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12 bedroom(s)
Freehold

Summary

RARE FREEHOLD OPPORTUNITY * 12 SELF CONTAINED APARTMENTS * DETACHED CHARACTER RESIDENCE * RENT OF CIRCA £103,000 PER YEAR * EXTENSION POTENTIAL

Features

Property Description

A RARE FREEHOLD OPPORTUNITY

* FOR SALE BY CLEARWATERS CONDITIONAL ONLINE AUCTION
* SELLER MAY CONSIDER PRE-AUCTION SALE
* 12 SELF CONTAINED APARTMENTS
* DETACHED CHARACTER RESIDENCE
* PASSING RENT OF CIRCA £103000 PER YEAR
* CLOSE TO BOURNEMOUTH TOWN CENTRE AND CHARMINSTER
* HIGH YIELDING
* POTENTIAL TO EXTEND TO CREATE FURTHER UNITS

ONLINE AUCTION PROCESS

This property is being sold by online auction, or before if an out of auction sale is agreed.

The ONLINE AUCTION PROCESS IS NOT THE SAME as traditional auctions. You simply bid for the property online and if your offer is the winning bid, you pay a fee and then have a certain number of weeks to exchange contracts. This is very different to traditional auctions where you need to be in a position to exchange contracts when your offer is accepted. Clearwaters online conditional auction gives a greater chance for buyers using mortgages to purchase a chance at winning an auction property.

Auction Date - 12:00 (midday) 3rd May 2024

The auction will be exclusively available online including the legal pack information.

The registration process is extremely simple and free.

Stage 1) Register your email address, create a password and confirm your account.
Stage 2) View the legal pack and arrange any viewings
Stage 3) If you would like to bid, use the 'dashboard' button and complete your ID check and enter your payment and solicitors details
Stage 4) You are ready to bid - Good Luck!

No exchange deposit monies are required before you bid.

Guide price(s) are an indication of the seller's expectation. Reserve price(s) are a figure below which the auctioneer cannot sell the lot at auction. The reserve price is not disclosed and remains confidential between the seller and the auctioneer and is set within the guide range.

A legal pack and special conditions are available to download to anyone who has registered. It is the purchaser's responsibility to make all necessary legal and financial enquiries prior to placing any bids.

Some Vendors may consider offers prior to the auction. These offers can only be submitted via ClearWater Estate agents and under auction conditions. The complete legal pack would need to be inspected before an offer would be considered.

Please get in touch if you have any questions regarding Online auctions or would like to arrange a viewing.

PROPERTY DESCRIPTION

This detached, character building is situated on one of most premier roads in BH8 Bournemouth. Located on Lowther Road is this large investment property split over three floors.

Within easy access to Bournemouth town centre, beaches, train/bus station and Bournemouth Grammar & University. Situated within easy reach of Charminster High Street providing an array of restaurants, bars & shops. Short distance to Meyrick Park Golf Course & Gym with good dog walking spots close by.

UNIT TYPES

Flat 1 - STUDIO
Flat 2 - STUDIO
Flat 3 - STUDIO
Flat 4 - STUDIO
Flat 5 - STUDIO
Flat 6 - STUDIO
Flat 7 - STUDIO
Flat 8 - ONE BEDROOM
Flat 9 - STUDIO
Flat 10 - STUDIO
Flat 11 - STUDIO
Flat 12 - STUDIO

RENTAL INCOME

Flat 1 - £695 PCM (£8,340 PA)
Flat 2 - £600 PCM (£7,200 PA)
Flat 3 - £658 PCM (£7,896 PA)
Flat 4 - £750 PCM (£9,000 PA)
Flat 5 - £800 PCM (£9,600 PA)
Flat 6 - £610 PCM (£7,320 PA)
Flat 7 - £800 PCM (£9,600 PA)
Flat 8 - £800 PCM (£9,600 PA)
Flat 9 - £630 PCM (£7,560 PA)
Flat 10 - £800 PCM (£9,600 PA)
Flat 11 - £607 PCM (£7,280 PA)
Flat 12 - £720 PCM (£8,640 PA)

Total Rental Income
£8,470 PCM
£101,636 PA

Other Income
Washing/Dryers - £125 PCM (£1,500 PA)

TOTAL INCOME
£8,595 PCM - (£103,136 PA)



Typical Expenses
Electricity - £476 PCM (£5,715 PA)
Gas - £351 PCM (£4,212 PA)
Sewerage - £148 PCM (£1,776 PA)
Water - £200 PCM (£2,400 PA)
Broadband - £74 PCM (£893 PA)
TOTAL EXPENSES - £1,250 PCM (£14,997 PA)

TOTAL NET INCOME
£7,345 PCM (£88,140 PA)
(Based on the typical income and expenditure)

SERVICES
Gas, electricity and water services are not metered to the individual units.

TENURE
Freehold. No leasehold elements have been broken up from the freehold title.

PLANNING PERMISSION
Planning permission has been granted to reconfigure the building into 9 self contained apartments (x8 one bedroom flats and x1 one studio flat). Application number 7-2021-5180-G.

These property details are set out as a general outline only and do not constitute any part of an Offer or Contract. Any services, equipment, fittings or central heating systems have not been tested and no warranty is given or implied that these are in working order. Buyers are advised to obtain verification from their solicitor or surveyor. Fixtures, fittings and other items are not included unless specifically described. All measurements, distances and areas are approximate and for guidance only. Room measurements are taken to be the nearest 10cm and prospective buyers are advised to check these for any particular purpose, e.g. Fitted carpets and furniture.

Imagery

Floor Plan

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All offers to be emailed in writing to Clearwater Real Estates sales office:

Tel: +44(0)1202 738338  |  Email: info@clearwater.co  |  Web: www.clearwater.co

These property details are set out as a general outline only and do not constitute any part of an Offer or Contract. Any services, equipment, fittings or central heating systems have not been tested and no warranty is given or implied that these are in working order. Buyers are advised to obtain verification from their solicitor or surveyor. Fixtures, fittings and other items are not included unless specifically described. All measurements, distances and areas are approximate and for guidance only. Room measurements are taken to be the nearest 10cm and prospective buyers are advised to check these for any particular purpose, e.g. Fitted carpets and furniture.