Home > Auctions > 15 & 16 April 2024 16 April 2024 - 9:00am > Lot 209

15 & 16 April 2024: Tuesday 16 April 2024 - 9:00am
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    Key features

    • To be offered on Tuesday 16 April
    • Investment let at £165,000 p.a. (It is anticipated for rent to increase in the 2024/25 academic year between £173,000 p.a. to £182,00 p.a. please refer to tenancy schedule)
    • An attractive 13.2% GIY on guide (anticipated to improve for 2024/25 academic year)
    • Historically 100% occupancy rate
    • Potential for SDLT savings (incoming purchaser needs to do their own due diligence)
    • Comprises of 3 x flats and 4 x studios
    • Total of 27 Letting rooms
    • All rooms are double beds with en-suite bathrooms
    • An approx. 50 metres from Plymouth University
    • An approx. 0.3 miles from Plymouth Station

    Description

    Renovated in 2011 the property comprises of a 3 storey end of terrace Victorian building. Internally the building has been developed to provide 3 flats and 4 studio apartments.

    Developed to a high specification in 2011 all the studio rooms benefit from a double bed with storage, en-suite bathroom, micro kitchen, double wardrobe, chair and study desk, together with a generous supply of well-placed double power points, high speed fixed internet sockets and Wi-Fi together with TV points.

    The three cluster flat rooms benefit from a double bed with storage, en-suite bathroom, double wardrobe, chair and study desk, together with a generous supply of well-placed double power points. In addition to this there are communal lounge/kitchen areas.


    Additional information

    Tenure

    Freehold

    Accommodation

    There is a total of 27 letting rooms throughout the property.

    The accommodation is broken down as follows:

    • Flat 3 a 7 Bedroom cluster flat (rooms 13.6 sq m – 24 sq m)
    • Flat 6 a 8 Bedroom cluster flat (rooms 12 sq m – 24 sq m)
    • Flat 7 a 8 Bedroom cluster flat (rooms 11 sq m – 18 sq m)
    • Studio Flats 4 x Studio flats (size 17 sq m – 23 sq m)

    Tenancy

    Let on AST's agreements on a mixture of 43/50 weeks

    Rent

    £165,000 p.a.

    Notes

    Joint Auctioneer

    Stratton Creber Commercial

    Gavin Sagar

    Tel: 01752 670700

    Email: gavins@sccplymouth.co.uk



    Please note the areas provided are approximate. The photos and any drawings are for illustrative purposes only and may not reflect the exact boundary of the property. The property has not been internally inspected by Savills. Prospective purchasers must rely upon their own enquiries in this regard. Please refer to the legal pack.

    Please note that the anticipated rents for 2024/25 academic year have been provided in good faith and any incoming purchaser must do their own due diligence.

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        No set viewings will be available on this property prior to auction due to the tenants in situ. Please refer to the legal pack for further information.

        No set viewings will be available on this property prior to auction due to safety concerns within the property. Please refer to the legal pack for further information.

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        Local information

        Road access to the city is provided by the A38 dual carriageway, which lies approximately 3 miles to the north of the city centre and connects with the M5 motorway at Exeter approximately 45 miles distant.


        The property is situated in a prime student accommodation area to the north of the retail centre of Plymouth and 50 meters north of Plymouth University campus, ½ mile from the shopping district of Mutley Plain and ¼ mile from the main city centre.


        Plymouth’s railway station is an approx. 0.3 miles west of the of the property with the town’s main bus station ½ mile in south west of the building.

        Transport

        Plymouth Railway Station - National Rail services

        Legal documents

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        EPC rating

        If no EPC rating appears please refer to the legal pack.

        Guide prices and common auction conditions

        •Guide prices given are indications within 10% upwards or downwards of where the reserve price may be set at the time of going to print. Please note they are not an indication of the anticipated sale price or a valuation.

        •The reserve price is the minimum price at which the property can be sold.

        •Both the guide price and reserve price may be subject to change up to and including the day of the auction.

        •For unsold properties after an auction an Available price may be listed. This is the price that the seller(s) are looking for post auction, subject to contract and no higher offers, and has no relation to the guide prices listed prior to the auction sale.

        Please note that all prices listed, whether prior to or post auction, are subject to contract.

        The Auctioneers and sellers accept no responsibility for any loss, cost or damage that a buyer may incur as a result of relying on any guide price. It is the buyer's responsibility to decide how much they should bid for any lot. Please check with us for regular updates as guide prices are subject to change prior to the auction.

        The guide price does not include the buyer's fee charged by the auctioneer or VAT which may apply to the sale or other amounts the seller may charge. The seller's Special Conditions of Sale will state whether there are other seller's charges and whether the seller has elected to charge VAT on the sale price.

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