Situation & Description
This long leasehold 2 bedroom flat is situated within close Rotherham town centre and local amenities to include Lidl, Rotherham Market and Argos plus a wide range of restaurant and leisure facilities. The Forge Island regeneration is due to begin later this year and will bring a large number of job opportunities as well as many more High Street retailers to the town.
The upper ground floor flat extends to 533sqft and is let on an Assured Shorthold Tenancy with the tenant paying £525 per calendar month which is the equivalent of £6,300 per annum or a gross yield of 11.5% if purchased at the guide price of £55,000.
Rotherham is a popular South Yorkshire minster town with a wide range of leisure and recreational amenities including Clifton Park which is a short distance from the flat. Rotherham College is also within walking distance as is the train station giving easy access to Sheffield (c.16 minutes) and the M1 motorway is c.2 miles south of the town centre. Just south of the M1 motorway, there is also the Meadowhall shopping centre, IKEA Sheffield and the Northern General Hospital so the demand for high specification centrally located rental properties is consistently high.
The flat consists of: Entrance Hall, Open plan Living/Dining Room with Kitchen off, 2 Bedrooms and Bathroom. There is an allocated parking space to the rear.
The lease is 150 years from 1st January 2019 thus having just under 149 years remaining with a ground rent of £200 per annum.
Copies of the Assured Shorthold Tenancy Agreement are available from the Auctioneers and contained with the Legal Pack.
The lot is to be sold by online auction on Wednesday 22nd July at 8pm (bidding opens on Tuesday 21st July at 12pm)
Please note there is a Buyer's Premium payable by the successful bidder of 1%+VAT (subject to minimum of £2,400 inc VAT).
All interested parties who wish to bid, please contact My Auction on 0207 101 4868
Please note that a Buyer’s Premium of 1.2% inc.VAT of the purchase price is to be paid by the successful Buyer (subject to a minimum fee of £2,400 inc.VAT).
NB: Internal photos are from the show flat, not Flat 5.
* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
This auction is now closed.
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