**Cash buyers only - ideal investment purchase** **Modern Method of Auction** An opportunity to acquire a three bedroom top floor apartment occupying a popular and very convenient, location within easy walking distance of Coventry City centre, Coventry University and main line train station. Currently tenanted and generating an excellent income, the double glazed accommodation includes all appliances and furniture in the sale and briefly comprises; open plan lounge/kitchen, three bedrooms, shower room, well kept communal gardens and a single garage situated in a nearby block, currently also generating a small separate income. The property is leasehold held on term until expiration on 29/09/2063 with a current service charge of £450.00 every six months.
Front entrance door leading to:
OPEN PLAN LOUNGE/ KITCHEN
17' x 11' 3" (5.18m x 3.43m)
Having a living room area and kitchen with roll top work surface with inset single drainer stainless steel sink unit with swan mixer tap over, a range of base units, drawers and wall mounted cupboards, space for electric cooker having stainless steel splash back with canopy over, automatic washing machine, washer dryer and fridge, laminate floor, wall mounted panel heater, power, coved ceiling cornice, ceiling light point and doors leading to bedroom one and an inner lobby.
10' 4" x 9' 6" (3.15m x 2.90m)
Having a front double glazed bay window, built in storage cupboard, laminate floor, power and ceiling light point.
Having a built in airing cupboard.
11' 4" x 11' 1" (3.45m x 3.38m)
Having a rear uPVC sealed unit double glazed window and opaque double glazed door leading out to a railed balcony, laminate floor, power and light.
11' 1" max x 9' 7" max (3.38m max x 2.92m max)
Having a rear uPVC sealed unit double glazed window, power and ceiling light point.
Having a modern white suite comprising low level w.c, wash hand basin with mixer tap over, double shower cubicle with fitted electric 'Triton' shower, tiled floor, extractor fan and inset ceiling spotlights.
There are communal gardens.
There is a single garage situated in a nearby block.
TENURE , RENTAL INCOME AND SPECIAL NOTE - MODERN METHOD OF AUCTION
We understand the property is leasehold held on a short lease of approximately 45 years (expires 29/09/2063). There is a current service charge of £450 every six months. The property is currently let on a Shorthold Tenancy Agreement until 10th May 2018 at £1,020 per calendar month and the garage is let at £400 per year.
This property is for sale by the Modern Method of Auction which is not to be confused with traditional auction. The modern Method of Auction is a flexible buyer friendly method of purchase. We do not require the purchaser to exchange contracts immediately, but grant 28 days to achieve exchange of contracts from the date the buyers solicitor is in receipt of the draft contracts and a further 28 days to complete. Allowing the additional time to exchange on the property means interested parties can proceed with traditional residential finance. Upon close of a successful auction or if the vendor accepts an offer during the auction, the buyer will be required to put down a non-refundable Reservation Fee of 4.2% to a minimum of £6,000.00 including VAT which secures the transaction and takes the property off the market. Fees paid to the Auctioneer may be considered as part of the chargeable consideration for the property and be included in the calculation for stamp duty liability. Further clarification on this must be sought from your legal representative, The buyer will be required to sign an Acknowledgement of Reservation form to confirm acceptance of terms prior to solicitors being instructed. Copies of the reservation form and all terms and conditions can be found on our website or requested from our Auction Department. Please note this property is subject to an undisclosed reserve price which is generally no more than 10% in excess of the Starting Bid, both the Starting Bid and reserve price can be subject to change. Terms and conditions apply to the Modern Method of Auction, which is operated by West Midlands Property Auction by IAM Sols. Reservation Fee is in addition to the final negotiated selling price.