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Lot 86
Guide Price: £200,000*

Auction Date: Thursday 26th May 2022

Auction Venue: Online Virtual Auction, remote bidding only

Auction Time: 12:00


23 Marlborough Street, Plymouth

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Property Description

A high yielding multi faceted freehold investment opportunity, comprising of four x one bedroom flats, a ground floor retail premises, garage and additional enclosed yard space with 2 vacant storage facilities offering the potential for further income/potential redevelopment subject to any requisite consents. The retail unit is currently let and generating £400 pcm/£4,800 pae. Three of the flats are currently let on rolling AST's at modest rents of £425pcm/£5,1000 per flat, with the potential for increased rents of circa £600 pcm, with the fourth flat currently vacant but ready to let and refurbished. The garage is also currently let at £100 pcm/£1,200 pae, with the current total combined income of £21,300 pae/£26,400 when fully let.


Situated

Marlborough Street is situated in the heart of Devonport offering a wide selection of shops, mini supermakets and food outlets. Set in the historic Naval Quarter of Plymouth the area is home to HMNB Devonport and is a regenerating neighbourhood with many of its historic buildings having been converted into luxury apartments.

Ground Floor

Self contained shop unit comprising of main retail area, inner hallway/storage with access to the rear courtyard and a rear office/storage area, totalling 73 square metres and with a VOA rating of £8,000. Separate access to the communal entrance hall to the flats and stairs rising to all floors.

First Floor

Communal landing with access to the fire escape. Flat 1: Open plan lounge/kitchen/diner, double bedroom and shower room. Flat 2: Entrance hall, open plan lounge/kitchen/diner, double bedroom and shower room.

Second Floor

Flat 3: Entrance hall, open plan lounge/kitchen/diner, double bedroom and shower room.

Third Floor

Flat 4: Living room, kitchen, double bedroom and bathroom.

Outside

Fully enclosed rear courtyard with two vacant storage facilities, WC, yard space and garage, with pedestrian gateway.

Viewings

Strictly by prior appointment with Fulfords Drake Circus 01752 223355. General enquiries Countrywide Property Auctions 01395 275691.

EPC RATINGS

Shop - E, Flat 1 - D, Flat 2 - D, Flat 3 - C, Flat 4 - TBC GET READY TO BID BY VISITING THE AUCTIONEERS WEBSITE

Tenure

Freehold


Listed By

Property Auctions South West
Head Office
2 Cotton Street
Liverpool
L3 7DY

t. 01395 275 691
auctions@suttonkersh.co.uk

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* Guide Price

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* Reserve Price

The seller's minimum acceptable price at auction and the figure below which the auctioneer cannot sell. The reserve price is not disclosed and remains confidential between the seller and the auctioneer. Both the guide price and the reserve price can be subject to change up to and including the day of the auction.

Buyers Fee

A successful purchaser will also be required to pay a Buyer’s Administration Charge of 1.2% of the purchase price subject to a minimum fee of £1,500 including VAT (unless stated otherwise within the property description in the catalogue) by debit card or bank transfer.

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