3 bed flat for sale

Farebrother Street, Grimsby DN32

Summary

We are delighted to offer to the market 1 x 2 bedroom ground floor flat and 1 x 1 bedroom first floor flat, located in this prime residential position in close proximity to Grimsby town centre.
This well planned accommodation briefly comprises of a communal hallway with a uPVC double glazed frosted front door, which leads access to both the ground floor and the first floor flat, with the ground floor comprising of a front and rear bedroom as well as a living room, kitchen, bathroom and a private rear garden. The first floor accommodates a landing providing access to the living room, bedroom, kitchen and bathroom.
Externally the property has a front garden, which is low maintenance being laid to concrete and surrounded by a dwarf brick wall and a rear garden accessed via the ground floor flat, which is secluded on all sides by a mixture of timber fencing and brick walling and is partially laid to concrete and partially laid to artificial lawn.
Both flats benefit from uPVC double glazing throughout and a gas central heating system each.
This is an excellent opportunity for any investor looking to add to their portfolio, with the properties currently let at 9,600 per annum, but with a potential market rent of 11,160, which would represent a 10.2% yield at the current asking price. Alternatively, the property could be converted into a HMO subject to the necessary planning consents. Interested parties are advised to make their own enquires.
Viewing is highly recommended for this excellent opportunity.

Council Tax Band: A
Tenure: Freehold

Auctioneers Additional Comments

Pattinson Auction are referred to below as The Auctioneer. This auction lot is being sold under either conditional (Modern) or unconditional (Traditional) auction terms and overseen by the auctioneer. The property is available to view strictly by appointment only via any Marketing Agent or The Auctioneer. Please be aware that any enquiry, bid or viewing of the subject property will require your details being shared between any marketing agent and The Auctioneer so that all matters can be dealt with effectively. The property is being sold via a transparent online auction. To submit a bid on any property marketed by The Auctioneer, all bidders buyers must adhere to a verification of identity process in line with Anti Money Laundering procedures. Bids can be submitted at any time and from anywhere. Our verification process is in place to ensure aml procedures are carried out in accordance with the law

Auctioneers Additional Comments

The advertised price is commonly referred to as a Starting Bid or Guide Price and is accompanied by a Reserve Price. The Reserve Price is confidential to the seller and the auctioneer and will typically be within a range above or below 10% of the Guide Price, Starting Bid. These prices are subject to change. An auction can be closed at any time with the auctioneer permitting for the property (the lot) to be sold prior to the end of the auction. A Legal Pack associated with this particular property is available to view upon request and contains details relevant to the legal documentation enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers obligations and sellers commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.

Auctioneers Additional Comments

In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit equivalent to 5% of the purchase price. The deposit will form part of the purchase price. A non-refundable reservation fee of up to 6% inc VAT (subject to a minimum of 6,000 inc VAT) is also payable upon agreement of sale. The Reservation Fee is in addition to the agreed purchase price, and consideration should be given by the purchaser to any Stamp Duty Land Tax liability associated with the overall purchase costs. Both the Marketing Agent and the Auctioneer may consider it necessary or beneficial to pass customer details to third-party service suppliers, from whom a referral fee may be received. There is no requirement or obligation to use any recommended suppliers or services.