Lot 02 - 9B Saratoga Road, Lower Clapton, London, E5 0SJ

  • Unconditional Online Auction Sale
  • Guide Price* : £95,000+

Investment opportunity producing £6,600 per annum within a period conversion close to Homerton University Hospital and within walking distance of Homerton, Hackney Downs and Clapton Overground stations. as well as Chatsworth Road.

Description

Situation & Description

This long leasehold studio flat is situated on the first floor of this period conversion and is within walking distance of Chatsworth Road and Lower Clapton Road offering a wide range of amenities including cafes, bars, restaurants and independent retailers. Hackney Marshes, South Millfields Recreation Ground and Millfields Park are all within close proximity as our the Overground stations of Hackney Downs, Hackney Central, Homerton and Clapton giving easy access into Central London and beyond.

This first floor flat extends to 75sqft and is let on an Assured Shorthold Tenancy with the tenant paying £550 per calendar month which is the equivalent of £6,600 per annum or a gross yield of 6.9% if purchased at the guide price of £95,000. It is believed that utility bills are included in the monthly rent but bidders are advised to review the Legal Pack prior to bidding.

The flat consists of: Studio room with kitchenette and separate wet room.

The lease is 995 years from 2020 thus having 995 years remaining with a ground rent of £400 per annum and a service charge of £500 per annum.

Copies of the Assured Shorthold Tenancy Agreement are available from the Auctioneers and contained with the Legal Pack.

Auctioneer's Note
Due to the square footage of the studio, it is our understanding that buyers will not be able to obtain a mortgage on the studio.

Auction Details
The lot is to be sold by online auction on Wednesday 2nd December at 8:05pm (bidding opens on Tuesday 1st December at 12pm)

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).

* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation. 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.

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Agreement Documents

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