London Road, Newcastle-under-lyme, ST5

FOR SALE VIA AUCTION

One London Road is a modern development of purpose built investment apartments, with an range of on site facilities including communal roof terrace, communal lounge, gym, court yard and garden, disabled access, bike storage and more.?

This ground floor apartment includes and an open plan living area with kitchen facilities and an ensuite shower room.?

Located off the A34; a great location within Newcastle-under-Lyme for students and medical workers with the town centre (with bus terminal)? within walking distance and links to major roads such the A500, A50 and M6 motorway.?

?Average current yield 9%?

Leasehold 125 years from 5 March 2021.
Ground rent ?350 per annum.
Management fee 5.5% plus VAT.
Service charge approx. ?1200 per annum. Note the service charge is paid out of the assured rent period. Service charges are based on actual costs incurred in each quarter and pooled with other investors.
Rental income for academic year 2024/25 approx. Gross ?8,600 - ?169 per week on a 51 week term (before service charge, ground rent and management fee).??
Council tax band A - students exempt.?

For pre-auction offers contact SDL auctions on?Call?0800 046 5454

Auction Details

The sale of this property will take place on the stated date by way of Auction Event and is being sold under and Unconditional sale type.

Binding contracts of sale will be exchanged at the point of sale.

All sales are subject to SDL Property Auctions Buyers Terms. Properties located in Scotland will be subject to applicable Scottish law.


Auction Deposit and Fees

The following deposits and non- refundable auctioneers fee apply:

• 10% deposit (subject to a minimum of ?5,000)

• Buyers Fee of 1.2% of the purchase price (subject to a minimum of ?1,500 inc. VAT)

The Buyers Fee does not contribute to the purchase price, however it will be taken into account when calculating the Stamp Duty Land Tax for the property (known as Land and Buildings Transaction Tax for properties located in Scotland), because it forms part of the chargeable consideration for the property.

There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.


Additional Information

For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions home page.

This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack (and any applicable Home Report for residential Scottish properties).


Guide Price & Reserve Price

Each property sold is subject to a Reserve Price. The Reserve Price will be within + or - 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.

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Nicholas Humphreys Estate Agents will sometimes refer sellers (and will offer to refer buyers) to Altium Law & Simply Conveyancing for conveyancing services. It is your decision as to whether or not you choose to deal with these conveyancers. Should you decide to use the conveyancers named above, you should know that Nicholas Humphreys Estate Agents would receive a referral fee of up to ?240 including VAT from them, for recommending you to them.

Council tax band: X, Tenure: Leasehold, Rooms Entrance - Wooden front door, inset ceiling light point, wall telephone intercom, door to shower room, open to living space. Shower Room - Modern white suite comprising W/C, pedestal wash hand basin with mixer tap and tiled splash back, shower enclosure with sliding glazed door and wall mounted mains shower with tiling, electric wall mounted towel radiator, inset ceiling light points and extractor. Living Space - Living Area - UPVC double glazed windows, electric wall mounted heater, inset ceiling light points, bed base, wardrobe, desk and wall shelving. Kitchen Area - Gloss finish fitted wall and base units with work surface incorporating a stainless steel sink and drainer with mixer tap, two ring electric hob with extractor and light point above, integral microwave, integral fridge with ice box. Agent Notes - Leasehold 125 years from 5 March 2021. Ground rent �350 per annum. Management fee 5.5% plus VAT. Service charge approx. �1200 per annum. Note the service charge is paid out of the assured rent period. Service charges are based on actual costs incurred in each quarter and pooled with other investors. Rental income for academic year 2024/25 approx. Gross �8,600 - �169 per week on a 51 week term (before service charge, ground rent and management fee). Council tax band A - students exempt.