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Lot 9 - 4 Lea Place, Gainsborough, Lincolnshire, DN21 1BA

Guide Price* £38,000 +

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Property Type
Terraced
Tenure
Leasehold
Type
Residential
Bedrooms
2
Bidder Security Deposit
£3,500*

Property Summary

  • On the instructions of the Joint Fixed Charge Receivers
  • Long leasehold three storey mid terraced house
  • Two bedrooms, reception / kitchen, bathroom/wc, shower room/wc, separate wc
  • Close to amenities and transport facilities.
  • Investment producing £7,500.00 per annum

Long leasehold three storey two-bedroom mid terraced house within a modern purpose built development - Investment producing £7,500.00 per annum.

Description

Long leasehold three storey mid terraced house within a modern purpose-built development.

Location

Lea Place forms part of Lea Road with the property being situated south of Gainsborough town centre on the A156, close to the junction with Shakespeare Street. Public transport facilities include Gainsborough Lea Road railway station (E M R & Northern rail networks) stations. Shopping amenities can be found along Trinity Street and Marshall’s Yard Shopping Centre. Recreational pursuits are locally.

Accommodation

Second floor: Bedroom with en-suite shower room/wc
First floor: Bedroom with en-suite dressing room, bathroom/wc
Ground floor: Entrance Hall, reception / kitchen, separate wc

Tenancy

Let on an assured shorthold tenancy for 6 months from 24/3/2025 (holding over) at a rent of £625.00 per month.

Total current rent received £7,500.00 per annum

Lease Details

Held on a lease for a term of 999 years from 1/1/2006 at a ground rent of £100 per annum (rising).

EPC Rating

C

Council Tax Band

A

VAT

VAT is not applicable to this lot

Disclaimer*

* Guide Prices are provided as an indication of each seller's minimum expectation (also known as the 'Reserve Price'). They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve Price (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide Price.

The Guide Price for the Lot does not include the Buyers Administration Fee of £1,500 (inclusive of VAT). In addition, the Guide Price does not include VAT on the sale price, or any additional costs, charges or encumbrances that might apply to some Lots and/or some buyers. The Special Conditions of Sale of the seller, and any applicable Addendum, will state if there are other costs, charges or encumbrances and whether the seller has elected to charge VAT on the sale price.

To participate in the sale, SW Property Auctions must hold a minimum amount from all bidders. This participation amount and administration fee is fully refundable in the event that you are not the successful purchaser. For example, a participation fee of £5,000 comprises £3,500 relating to your bidder security (partial deposit payment) and the buyers administration fee of £1,500 (inc. VAT).

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