The house is divided into two self contained flats, the top floor flat is tenanted under assured shorthold tenancy at a monthly rent of £450. Based on current open market rent, when fully let, will deliver anticipated annual combined rental income of £10,500 per annum. Both flats are well presented and offer the investor a 'turn-key' buy-to-let investment with potential to deliver gross yield of 8 - 10%.
Bedroom - 3.5m x 3.3m
Sitting Room - 3.5m x 3.5m
Kitchen - 2m x 2m
Shower Room / WC
Bed/Sitting Room - 3.5m x 3.3m
Living Room / Kitchen - 3.4m x 3.4m
Shower Room / WC
The property lies in a convenient location approximately one mile north of the city centre and close to amenities.
Head away from Norwich along Magdalen Street. At the traffic lights proceed straight over onto Magdalen Road. At the traffic lights continue straight onto Sprowston Road and the property will be found on the right, just before the junction with Silver Road.
Ground Floor Flat: EPC D
First Floor Flat: EPC C
Buyer Fees - Please note that the successful purchaser will be required to pay a Buyers Premium of £4800 inclusive of VAT, this fee is due and payable from the winning bidder immediately after the timed auction ends. The successful bidder buyer will additionally pay over to the auctioneer a deposit of 10% of the purchase price immediately after the timed auction ends. All Buyer payments to be made by electronic bank transfer to the Brown&Co Client Account the account, the details of which will be provided by the auctioneer to the successful bidder buyer immediately after the auction ends. Other fees may be payable on completion and will be detailed within the Special Conditions of Sale to be found within the published Auction Pack.
Council Tax: Rated 'A' for both flats
Services: Water, electricity, mains drainage.
Local Authority: Norwich City Council
Ability to Buy: This property is being sold under Unconditional Auction Rules creating a legally binding contract at the conclusion of the timed auction. DO NOT bid unless you can complete the sale within 28 days.
Help and Assistance: If you have any questions or require any clarification as to the online auction process please contact the auctioneer.
Bidding Process: Prior to bidding the bidder will complete a Passport-to-Bid process, this requires registration, verification and agreement to Buyers Terms.
Following the Auction: Use 'Watch' button to follow the auction. If you register to Watch an auction you will receive email notifications of any bidding activity on the specific lot.
How It Works: Unconditional Timed Auction Online: This is a binding method of sale similar to a traditional multi-lot public property auction. The only difference is the bidding takes place on line. The successful purchaser will be required to pay a 10% deposit on the fall of the virtual gavel and contracts will be exchanged. Bidding for properties online works in a similar fashion to eBay. You can place bids using your PC, tablet or mobile phone and the minimum amount you can bid is defined by the 'bid increment' level. When you place a bid, the property listing page will show you if your bid was successful and whether or not you are the highest bidder. When you are the highest bidder on a property, if another· bidder outbids you the system will notify you by email so that you can place another bid if you wish. The major difference from eBay is that our system eradicates sudden death 'bid sniping' through the use of auction 'extension times'. If you have any questions or require any clarification please contact the auctioneer.
Agents Notes: (1) All measurements are approximate and quoted for general guidance only and whilst every attempt has been made to ensure accuracy, they must not be relied on. (2) Any fixtures, fittings and appliances referred within these published details have not been tested and therefore no guarantee can be given that they are in working order. (3) Internal photographs are reproduced for general information and it is not inferred that any item shown within any picture is included with the property. (4) Photographs shown within these details have been taken with a camera using a wide-angle lens. (5) These particulars do not form part of any offer or contract and must not be relied upon as statements or representations of fact. (6) In accordance with UK Anti Money Laundering Regulations Intending buyers will be asked to produce original Identity Documentation, Proof of Address and be subjected to an electronic ID verification check before a purchase conveyance is instructed. (7) Brown&Co comply with the General Data Protection Regulation (EU) 2016/679 (“GDPR”) please visit our website www.brown-co.com for our Privacy Statement, Subject Access Requests can be submitted to email@example.com . (8) Brown&Co are regulated under the RICS code of conduct. (9) Brown&Co are a member of The Property Redress Scheme, Membership Number: PRS012758 https://www.theprs.co.uk/ (10) Brown&Co is a member of RICS Client Money Protection Scheme, RICS Firm Reference: 016189 (11) Brown&Co-Property And Business Consultants LLP trading as Brown&Co Registered Company Number OC302092. (11) Registered Office Address – Granta Hall, 6, Finkin Street, Grantham, Lincolnshire, NG31 6QZ.
* 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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Open House Viewing Sessions: TBA