Lot 01 - 9B Saratoga Road, Lower Clapton, London, E5 0SJ
- Unconditional Online Auction Sale
- Guide Price* : £75,000+
Newly renovated investment opportunity producing £9,600 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. Long lease (994 years remaining) and producing a gross yield of 19.2% at the guide price.
Description
Situation & Description
This long leasehold property 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 space extends to 75sqft and is let on an Assured Shorthold Tenancy with the tenant paying £800 per calendar month which is the equivalent of £9,600 per annum. 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 and separate wet room.
The lease is 999 years from 1st September 2014 thus having 992 years remaining with a ground rent of £1 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 property, 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 23rd February at 4:00pm (bidding opens on Tuesday 22nd February 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.
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