****For Sale by Modern Method of Auction, T&C’s apply****
This is an investment/developmemt opportunity to acquire five aparments in the centre of the seaside town of Saltburn by the Sea.
Ideal holiday lets or rental investment.
A unique opportunity to acquire this investment/development of five apartments in Saltburn by the Sea.
The property comprises five flats over first, second & third floors, arranged to provide 1 x 4 bedroom & 4 x 2 bedroom flats situated within an end of terrace mixed use building arranged over ground and three upper floors. The ground floor commercial element does not form part of the sale.
Tenure
Long Leasehold. The flats are each held on 999 year leases from 15th August 2007 .
The property is situated amongst the local shops and amenities of Milton Street. The open spaces of Saltburn Valley Gardens are within easy reach with the beach, pier and Huntcliff all within short walking distance. Transport links are provided by Saltburn rail station.
Property Floor Accommodation
Flat 1 First Two Bedroom Self-Contained Flat (GIA: 71.6 sq m)
Flat 2 First Two Bedroom Self-Contained Flat (GIA: 68.6 sq m)
Flat 3 Second Two Bedroom Self-Contained Flat (GIA: 71.6 sq m)
Flat 4 Second Two Bedroom Self-Contained Flat (GIA: 68.6 sq m)
Flat 5 Third Four Bedroom, Two Bathroom Self-Contained Flat (GIA: 119 sq m)
The 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. The additional time allows buyers to proceed with mortgage finances. The buyer is required a reservation agreement to make a payment of non refundable reservation fee. This is 4.5% of the purchase price including VAT subject to a minimum fee of £6,600 including VAT. The reservation fee is paid in addition to the purchase price and will be considered as part of the chargeable consideration for the property and the calculation for stamp duty liability. Buyers will be required to go through an identification process with IAMSOLD Ltd and provide proof of how this will be funded.
The property has a buyer information pack which provides 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 do your own due diligence before bidding. A sample copy of the reservation agreement and the terms/conditions are also contained within the pack. The buyer will also make a payment of £300 including VAT towards the preparation cost of the pack, where it is has been provided by IAMSOLD Ltd.
