Situation & Description
This large freehold HMO investment consists of 6 bedrooms spread over 3 floors and is located just off Parsonage Lane in Bishop's Stortford and is within 150 yards from an excellent selection of local amenities to include convenience store, pharmacy, bakers, butchers and takeaway restaurant.
Bishop's Stortford town centre is less than 1 mile away and offers a wide range of amenities with High Street shops to include: Marks & Spencer's, Waitrose and Next with an excellent selection of local restaurants, bars and cafes making it an extremely popular market town in East Hertfordshire.
The town is well placed for easy access to Cambridge (20 miles north) and London (30 miles south) via the M11 with the M25 only 10 miles south. There is a mainline train station giving access to London Liverpool Street (34 minutes), Tottenham Hale (17 minutes/Victoria Line) and Cambridge (30 minutes). Stansted airport is around 3 miles away which provides a high volume of employment opportunities in the area.
The house consists of:
Ground Floor: Entrance Hall, Double Bedroom, Shower Room, Communal Kitchen/Dining Room with access to courtyard rear garden
First Floor: 2 x Double Bedrooms (1 is the former lounge so a very good size) and bathroom with shower
Second Floor: 3 x Bedrooms (1 x double, 1 x single and 1 x large double with en-suite shower room)
The property is fully let and is currently producing an income of £34,680 per annum which represents a 9.5% gross yield at the guide price.
Copies of the tenancy agreements and all other documentation will be contained with the Legal Pack.
The lot is to be sold by online auction on Wednesday 18th August at 4:15pm (bidding opens on Tuesday 17th August 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, 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.
By setting a proxy bid, the system will automatically bid on your behalf to maintain your position as the highest bidder, up to your proxy bid amount. If you are outbid, you will be notified via email so you can opt to increase your bid if you so choose.
If two of more users place identical bids, the bid that was placed first takes precedence, and this includes proxy bids.
Another bidder placed an automatic proxy bid greater or equal to the bid you have just placed. You will need to bid again to stand a chance of winning.