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185

Flats 1, 2 and 3, Cherrys Yard, Backway Road, Bicester OX26 6PD

Description

A superb investment opportunity to purchase 3 apartments offering an impressive return of 15% against the guide price with a potential income of approx £45k per year.

(2 apartments are currently let and the 3rd is in the process of being let out)

Three apartments each comprising of 2 bedrooms and 2 en-suites, all located on the first floor. Benefitting from being located in the centre of the picturesque market town of Bicester, and less than 8 minutes walk from Bicester Village and Bicester Village/North train stations. Bicester enjoys excellent transport links with direct trains to London and Birmingham and is 3 miles from junction 9, M40.

To be sold together, these recently refitted 2 bedroom apartments are located in the town centre close to amenities with each apartment being finished to a good standard.

Rental Income: £3,735 pcm £44,820 pa

Apt 1:
Rent £1,175 pcm (£14,100 pa)

Apt 2:
£1,260 pcm (£15,120 pa)

Apt 3:
Due to be re-let at £1,300 pcm (£15,600)

Accommodation

Apt 1 -
Apartment consists of entrance hall, living/kitchen area, bedroom one with en-suite bathroom and bedroom two with ensuite shower room.

Apt 2 -
Apartment consists of entrance hall, living/kitchen area, bedroom one with en-suite shower room and bedroom two with en-suite shower room.

Apt 3 -
Apartment consists of entrance hall, living/kitchen area, bedroom one with en-suite bathroom. From the hall, the stairs lead up to bedroom two with en-suite shower room.

Leasehold Information
Any ground rent and service charge review periods will be confirmed in the lease documents within the legal pack.

Please Note
PLEASE NOTE: Under the Estate Agents Act 1979 we are required to declare any conflict of interest. The seller of this property is also our partner agent in the sale, and will receive part of any Reservation Fee as commission. If you have any queries regarding this, please contact us for further information.

Draft Sales Details
These sales details are awaiting vendor approval.

Note to Buyers
The lot is known at the land registry and on the contract as as &apos

22 Sheep Street, Bicester (OX26 6TB)&apos

.

Occupancy

Part Let Part Vacant

Costs

Auction Details:

The sale of this property will take place on the stated date by way of Auction Event and is being sold under an Unconditional sale type.

Binding contracts of sale will be exchanged at the point of sale.

All sales are subject to SDL Property Auctions Buyers Terms. Properties located in Scotland will be subject to applicable Scottish law.

Auction Deposit and Fees:

The following deposits and non- refundable auctioneers fees apply:

• 5% deposit (subject to a minimum of £5,000)

• Buyers Fee of 4.8% of the purchase price (subject to a minimum of £6,000 inc. VAT). 

The Buyers Fee does not contribute to the purchase price, however it will be taken into account when calculating the Stamp Duty Land Tax for the property (known as Land and Buildings Transaction Tax for properties located in Scotland), because it forms part of the chargeable consideration for the property.

There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.

Additional Information:

For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions home page.

This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack (and any applicable Home Report for residential Scottish properties).

Guide Price & Reserve Price:

Each property sold is subject to a Reserve Price. The Reserve Price will be within + or - 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.

Addendum

The lot is known at the land registry and on the contract as as '22 Sheep Street, Bicester (OX26 6TB)'.

Address

Flats 1, 2 and 3, Cherrys Yard, Backway Road, Bicester OX26 6PD

Available

Key Features

  • Council Tax Band: B
  • Investment Opportunity
  • 3 Apartments in the centre of Bicester
  • Income approx. £45k per year
  • 3 Apartments each with 2 bedrooms and 2 bathrooms
  • 2 Apartments let long term and the 3rd due to be re-let (Please check legal pack)
  • 15% yield vs the guide price
  • Excellent central town centre location & close to Bicester shopping village
  • EPC Rating: D C C
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