Lower Lickhill Road, Stourport-on-severn Dy13 8uq

£67,500

Guide price

  • Bedrooms: 2

FOR SALE BY MODERN METHOD OF AUCTION; STARTING BID PRICE £67,500 PLUS RESERVATION FEE

Absolutely superb value for money and of equal interest to both owner occupiers or investor Landlords looking for a profitable turn-key investment opportunity. Importantly, the property also has a long lease with 152 unexpired years and is offered for sale with the benefit of immediate vacant possession. Energy Rating: E



THIS PROPERTY IS FOR SALE BY WEST MIDLANDS PROPERTY AUCTION POWERED BY IAM-SOLD LTD

INTRODUCTION

This property is for sale by the Modern Method of Auction. Should you view, offer or bid on the property, your information will be shared with the Auctioneer, iamsold.

This method of auction requires both parties to complete the transaction within 56 days of the draft contract for sale being received by the buyers solicitor. This additional time allows buyers to proceed with mortgage finance (subject to lending criteria, affordability and survey).

The buyer is required to sign a reservation agreement and make payment of a non-refundable Reservation Fee. This being 4.2% of the purchase price including VAT, subject to a minimum of £6,000.00 including VAT. The Reservation Fee is paid in addition to purchase price and will be considered as part of the chargeable consideration for the property in the calculation for stamp duty liability.

Buyers will be required to go through an identification verification process with iamsold and provide proof of how the purchase would be funded.

This property has a Buyer Information Pack which is a collection of documents in relation to the property. The documents may not tell you everything you need to know about the property, so you are required to complete your own due diligence before bidding. A sample copy of the Reservation Agreement and terms and conditions are also contained within this pack.

The buyer will also make payment of £300.00 including VAT towards the preparation cost of the pack, where it has been provided by iamsold.

The property is subject to an undisclosed Reserve Price with both the Reserve Price and Starting Bid being subject to change.

Referral Arrangements

The Partner Agent and Auctioneer may recommend the services of third parties to you. Whilst these services are recommended as it is believed they will be of benefit; you are under no obligation to use any of these services and you should always consider your options before services are accepted.

Where services are accepted the Auctioneer or Partner Agent may receive payment for the recommendation and you will be informed of any referral arrangement and payment prior to any services being taken by you.

DESCRIPTION

AGENTS NOTE ONE – The property is fully self-contained and situated in a mainly residential location above a convenience shop. This ‘may’ be a barrier for prospective purchasers looking for mortgage finance via high street Lenders. In our experience, this is because the loan criteria of high street lenders will often preclude properties over commercial premises. Therefore, those seeking a mortgage, will most probably need to speak with a specialist broker to explore any further options but otherwise it should be said that the property is most suited to cash buyers.

Number 89 Lower Lickhill Road is a 2 bedroom first floor flat with self-contained access to the rear via shared steps. The property is situated in a popular location just along from the Memorial Park and only around 0.75 of a mile from the town centre itself.

The property has been with the ownership of our client since 1999, first as a home residence and then latterly as a successful letting property. The property is now purposely vacant given its impending sale but the most recent tenant was paying a monthly rent of £475 PCM. In the current market, we feel that there may be scope to increase that figure but clearly this is something that prospective purchasers must make their own enquires about and satisfy themselves.

Another valuable asset is that the current owner also extended the lease some 5 years ago at a not insignificant cost of £8000, thereby future proofing it for a new owner!

The accommodation comprises:-

Shared step approach rising to the first floor level

Access is gained via door to:

LIVING ROOM

16' 11'' x 9' 7'' (5.16m x 2.91m)

[max] with electric night storage heater and window.

KITCHEN

9' 4'' x 5' 11'' (2.85m x 1.81m)

with window, 'Hagar' distribution board protecting the electrical installation, range of both wall and base mounted kitchen units with complementary roll top surface over having inset stainless steel sink.

INNER HALL

with built in airing cupboard and doors to:

BEDROOM ONE

11' 1'' x 9' 7'' (3.37m x 2.92m)

[min excluding window recess] with UPVC double glazed window, electric night storage heater and fitted wardrobes.

BEDROOM TWO

13' 2'' x 6' 0'' (4.02m x 1.82m)

[max in to window recess] with UPVC double glazed window, electric night storage heater and access to loft space.

SHOWER ROOM

with electric towel radiator, low level flush wc, hand wash basin and enclosed cubicle with electric shower.

TENURE

Leasehold. The property is held on a 189 year lease from 19 November, 1984, thereby now leaving 152 unexpired years remaining.

The freeholding landlord is Martin Slowe Property Investments Limited. We understand that Martin Slowe Property Services (020 8236 1050) also manage the building and service charge themselves.

The freeholding landlord is Martin Slowe Property Investments Limited. We understand that Martin Slowe Property Services (020 8236 1050) also manage the building and service charge themselves.

Service Charge

The 2021 service charge (due for payment in March 2022) is set at £1614.20. We are informed by the seller that this is an abnormal 'spike' relative to the typical costs given planned major works for the whole building. The whole building under management comprises numbers 83-109 Lower Lickhill Road inclusive and we understand that the apportionment for number 89 is 5%.

For past reference then previous recent years' service charge payments have been as follows:-

1/1/2020 - 31/12/2020 = £402.72

1/1/2019 - 31/12/2019 = £615.25

1/1/2018 - 31/12/2018 = £425.48

1/1/2017 - 31/12/2017 = £415.00

1/1/2016 - 31/12/2016 = £615.00

SOLICITORS CONCERNED:

Jodie Wilding, Talbots Law, Morgan House, 25/27 Hagley Road, Stourbridge, DY8 1QH. Tel: 01384 247970. jodiewilding@talbotslaw.co.uk

AGENTS NOTE TWO

These particulars are prepared in good faith and in the spirit of trying to be helpful and informative. However prospective purchasers should, obviously, make their own detailed enquiries in respect of all planning / access / services / licences / leases / building regulations / valuation matters, etc. and we, as Agents, give no guarantee, or warranty, whatsoever. Details for the sellers Solicitor are above and Jodie Wilding will also be preparing an auction contract pack. Prospective purchasers are advised to read this before bidding.

AGENTS NOTE THREE

As is usual with auction sales, the buyer will be responsible for reimbursing the seller for the cost of the search fees.

Arrange viewing 01299 488543

Phipps and Pritchard - Stourport

1 High Street, Stourport-on-Severn, Worcestershire

See all properties from this agent

Send me homes like this by email