Wainfleet Road Skegness, PE25

Tenure: FreeholdFOR SALE BY AUCTION - 9TH MAY 2024. An opportunity to purchase a FREEHOLD RESIDENTIAL INVESTMENT of a FREEHOLD BLOCK OF 9 SELF CONTAINED APARTMENTS comprising 7 x 1 Bedroom Flats and 2 x 2 Bedroom Flats in a prime edge of town centre location. All Flats have their own electric and water meters. Five on Assured Shorthold Tenancies and four vacant with a potential gross income of £48,000. For sale due to retirement. EPC Ratings C, D & E EPC rating: C. Council tax band: X, Tenure: Freehold, LOCATIONSkegness is the principal Lincolnshire coastal resort with a population of around 18,000 persons increasing substantially in the summer months with the influx of holiday makers and day visitors. It is some 40 miles east and south of Lincoln and Grimsby respectively with main communication links via the A52 and A158 roads to the south and Midlands. Skegness is well served by bus and rail services and the local primary and Grammar Schools have excellent reputations. The property is located at the corner of Wainfleet Road and Robin Hood Road, adjacent to Morrisons supermarket and petrol filling station, to the west of the town centre close to shops, schools, parks and the beach. It is considered a good location for residential investment.TENUREFreehold and subject to the existing assured shorthold tenancies (copies held by the managing agents).RENTAL INCOMEProspective purchasers should satisfy themselves regards the current rental income and occupancy status at the time an offer to purchase is made.Not all parts of the property were inspected by the agent but we are advised that the standard is broadly good tenantable condition. Of traditional construction under a pitched slate roof. Majority pvc double glazing and fascias and 7 with gas central heating.SERVICESMains gas, electricity, water and sewerage services are understood to be connected. All with their own electric meters, water meter and have their own gas central heating systems and meters. The agents have not inspected or tested any of the services or service installations and purchasers should rely on their own survey.VIEWINGBy prior appointment with Newton Fallowell office in Skegness, at least 48 hours notice being requiredFLOOR PLANS & INTERNAL PHOTOSSchematic floor plans with room sizes and internal photos (March 2022) available on request.ACCOMMODATIONFLAT 1(Ground Floor) gas central heatingFLAT 2(Ground Floor) gas central heatingFLAT 3(Ground Floor) gas central heatingFLAT 4(Mid Floor) gas central heatingFLAT 5(Mid Floor) gas central heatingFLAT 6(Mid Floor) gas central heatingFLAT 7(Top 2 Floors) electric heatersFLAT 8(Top 2 Floors) gas central heatingFLAT 9(Mid Floor) electric heatersOUTSIDEGardens to the 2 road frontages. To the side is Robin Hood RoadAUCTION TERMSImportant notice - Pre-registration approval to bid, guide prices, reserves, additional charges and other mattersPRE-REGISTRATION APPROVAL TO BIDAllsop now require all bidders who wish to bid at our Auctions to register beforehand. All checks required by current anti-money laundering legislation must be satisfactorily completed as part of this process before prior approval to bid will be given. Please use the links on our website to pre-register. Following approval to bid, the buyer named in your registration cannot be changed without consent (for which a charge might be made).GUIDE PRICES1. A guide price (to include a range of prices), is not an indication of the anticipated eventual selling price or a valuation; it is an indication of the minimum price ( “the Reserve” ) at which (or range of prices within which) the seller might be prepared to sell. The eventual sale price can and frequently does, exceed the guide price. 2. Where a range is given, the Reserve will sit within that range and will not exceed the top end of the range. Where a single figure Guide Price is given, the Reserve will be within 10%, upwards or downwards, of that figure. 3. The guide price may be subject to change up to and including the day of the auction. The latest published guide price (or range of prices) is displayed on our website and you should check the website regularly for updates and on the day of the auction. 4. All guide prices are quoted "subject to contract".GUIDE PRICES Cont.....5. Please note the guide price for the Lot does not include: - any Buyers' Fee charged by the auctioneers; - VAT on the sale price; - SDLT or any other Government taxes; - additional costs and fees charged by the seller or third parties that might apply to some Lots and/or some buyers. 6. If a guide price is listed as "TBA", it means no guide price has been set at present. Please do not call our office about this - the guide price, or range of prices, will be published online immediately it becomes available and you should check the auction website regularly for updates and on the day of the auction.RESERVE PRICES7. The reserve price is the minimum price at which the Lot can be sold. 8. Whilst every effort is made to ensure that the advertised guide prices are up-to-date. it is possible that the reserve price set for any Lot may exceed the previously quoted guide price. This is because the seller may fix the final reserve price just before the Lot is offered for sale and you should check the website regularly for updates and on the day of the auction.BUYERS FEES, SELLERS FEES & ADDITIONAL CHARGES9. For each Lot, a Buyers' Fee is payable on the fall of the hammer to Allsop LLP as follows: Residential Auctions - Lots sold for £10,000 or more: Buyers' Fee of £1,500 inclusive of VAT - Lots sold for less than £10,000: Buyers' Fee of £300 inclusive of VAT Commercial Auctions - All Lots: Buyers Fee £1,000 excluding VAT 10. Additional charges and fees might be charged by the seller and/or other third parties . You are strongly advised to read the Special Conditions of Sale for the Lot prior to bidding to check for any additional charges and fees and to check the addendum which might also (but does not always) contain details of such amounts. 11. VAT may be chargeable in addition to the sale price for the Lot. The Lot Particulars and/or the Special Conditions of Sale will indicate whether VAT applies. OTHER MATTERS12. Please note that Lots may be sold or withdrawn at any time prior to auction. 13. Please note that the amount of Bidder Security (payable on application to bid at the auction) and the Buyer's Fee may each be varied from the standard amounts quoted. Please refer to the addendum, the Particulars and/or the conditions of sale. 14. Street Trader plans are reproduced with the consent of Edozo Ltd or Experian Goad Ltd. These include mapping data licensed from Ordnance Survey with the permission of the Controller of Her Majesty's Stationery Office. © Crown Copyright. All rights reserved. Licence number PU 100017316. Location plans are reproduced from the Ordnance Survey mapping with the permission of Ordnance Survey on behalf of the Controller of Her Majesty's Stationery Office, © Crown copyright and Database Rights 2018 OS 100060020 OTHER MATTERS Cont.....15. The plans and photographs shown in the catalogue are included in order to assist you in locating the Lot in question. They are not to be taken as drawn to scale and any arrows on plans or photographs are merely to assist you in finding the Lot, not for the purpose of indicating legal boundaries or which direction the lot is facing. The Auctioneers do not warrant or represent that any plans or photographs show the up to date position with regard to occupiers either for the Lot or for any other properties shown in such plans or photographs.AUCTIONEERSAllsop David Evans JOINT AGENTSNewton Fallowell Claire Willson SELLERS SOLICITORSHodgkinsons Cameron Hill