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Lot 13 - 19 Lea Road, Gainsborough, Lincolnshire, DN21 1LW

Guide Price* £160,000

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Property Type
End of Terrace
Tenure
Freehold
Type
Residential
Bedrooms
6
Bidder Security Deposit
£3,500*

Property Summary

  • Freehold residential investment
  • Let to an individual until 01/09/2032
  • HMO arranged as six bedrooms
  • 154.00 sq.m (1,658 sq.ft)
  • Producing £24,000 per annum

Freehold residential investment let to an individual until 2032 producing £24,000 per annum

Description

The property comprises a three storey end of terrace house arranged as six bedrooms. The ground floor comprises two bedrooms, dining room, kitchen, utility room and shower/WC. The first floor comprises two bedrooms, kitchen, 1 x bathroom/WC and 2 x separate WC’s and the second floor comprises two bedrooms. The property is generally in good decorative condition and has a small rear yard.

Location

The market town of Gainsborough lies on the east bank of the River Trent and is located 18 miles north-west of Lincoln, 16 miles south-west of Scunthorpe, 20 miles south-east of Doncaster and 39 miles east of Sheffield. Gainsborough Lea Road and Gainsborough Central mainline stations are both close by, the former providing regular train services on the Lincoln to Leeds route and between Peterborough and Doncaster.

The property is situated to the south of the town centre adjacent to the River Trent, on the east side of Lea Road at the junction with Trent Street in a mainly residential area.

Accommodation

Ground Floor
Two bedrooms, dining room, kitchen, utility, shower/WC

First Floor
Two bedrooms, kitchen, bathroom/WC, 2 x separate WC’s

Second Floor
Two bedrooms

Tenancy

The entire property is let to an individual for a term of 5 years expiring on 01/09/2032 at a current rent of £24,000 per annum.

We understand the property is sublet to Serco Ltd at a current rent of £33,600 per annum.

Planning

Local Planning Authority – West Lindsey District Council (01427 676676) www.west-lindsey.gov.uk

EPC Rating

D

VAT

Refer to the legal pack

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 £2,000 (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 £5,500 comprises £3,500 relating to your bidder security (partial deposit payment) and the buyers administration fee of £2,000 (inc. VAT).

Please note that Lots may be sold or withdrawn prior to auction.

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All bidders must satisfy themselves by carrying out their own independent due diligence, inspections or otherwise as to the correctness of any and all of the information, statements, descriptions, quantity or measurements contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of SW Property Auctions or the seller.

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Additional Information

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Oliver Childs
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