16 Bed Flat For Sale Victoria Road, Port Talbot, SA12
£335,000- Flat
Auction Property
1 of 15
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Last Updated: 18th April 2024
Description
FOR SALE BY ONLINE AUCTION - Lot - Residential Investment \r
ONLINE AUCTION from 14th MAY-16th MAY\r
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An opportunity to acquire 16 flats situated in a block of 24 in the sought after seaside location of Aberavon. Included in the sale is the headlease of the whole building and carpark.\r
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The flats are sold with 14 flats let and two vacant with many of the tenants well established. The flats (with off-street parking) are situated just a short distance from the promenade which boasts one of the largest beaches in Wales with great views.\r
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The area has seen a good level of investment over the last few years and there are many new residential developments close by and this site may offer scope for improvement or re development in the future.\r
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VIRTUAL TOUR\r
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Please note only 2 of the flats ( ) have been inspected internally by auctioneers however we are informed that the configuration of the 16 flats are all the same and comprise;- entrance, lounge/kitchen/bedroom and bathroom.\r
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Accommodation
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Tenure:\r
Advised Leasehold (council as ultimate freeholder)- to be verified by solicitor\r
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Tenancies:\r
14 flats are let\r
Annual income £52,020\r
Annual income when fully let £55,420\r
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The LHA (local housing allowance) rates for each of the flats is £94.74 per week which would give a gross rent of (£94.74 X 52 X 16) £ 78,823.
ONLINE AUCTION from 14th MAY-16th MAY\r
\r
An opportunity to acquire 16 flats situated in a block of 24 in the sought after seaside location of Aberavon. Included in the sale is the headlease of the whole building and carpark.\r
\r
The flats are sold with 14 flats let and two vacant with many of the tenants well established. The flats (with off-street parking) are situated just a short distance from the promenade which boasts one of the largest beaches in Wales with great views.\r
\r
The area has seen a good level of investment over the last few years and there are many new residential developments close by and this site may offer scope for improvement or re development in the future.\r
\r
VIRTUAL TOUR\r
\r
\r
\r
\r
\r
Please note only 2 of the flats ( ) have been inspected internally by auctioneers however we are informed that the configuration of the 16 flats are all the same and comprise;- entrance, lounge/kitchen/bedroom and bathroom.\r
\r
Accommodation
| Floor | Description | Rent |
| Flat 1 | £300 pcm | |
| Flat 3 | £310 pcm | |
| Flat 4 | £325 pcm | |
| Flat 6 | £300 pcm | |
| Flat 7 | £300 pcm | |
| Flat 8 | £300 pcm | |
| Flat 10 | £300 pcm | |
| Flat 11 | £300 pcm | |
| Flat 12 | £325 pcm | |
| Flat 13 | £325 pcm | |
| Flat 14 (Vacant) | Vacant | |
| Flat 15 | £325 pcm | |
| Flat 18 | £300 pcm | |
| Flat 20 (Vacant) | Vacant | |
| Flat 22 | £300 pcm | |
| Flat 23 | £325 pcm | |
| Annual income £52,020 | ||
| Annual income when fully let £55,420 |
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\r
Tenure:\r
Advised Leasehold (council as ultimate freeholder)- to be verified by solicitor\r
\r
Tenancies:\r
14 flats are let\r
Annual income £52,020\r
Annual income when fully let £55,420\r
\r
The LHA (local housing allowance) rates for each of the flats is £94.74 per week which would give a gross rent of (£94.74 X 52 X 16) £ 78,823.
Agent Details
Paul Fosh Auctions
108, Lower Dock Street, Newport, NP20 2AG
Show Contact Number
01633 254 044
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Legal - YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY DEBT SECURED ON IT.
Property Forecaster are working in partnership with Midland Mortgage Bureau Limited. Midland Mortgage Bureau Limited is an appointed representative of The Right Mortgage Ltd, St Johns Court,70 St Johns Close, Knowle, B93 0NH, which is authorised and regulated by the Financial Conduct Authority. Midland Mortgage Bureau Limited financial Services Register number is 756490. The Right Mortgage Ltd Financial Services Register number is 649443.
Property Forecaster are working in partnership with Midland Mortgage Bureau Limited. Midland Mortgage Bureau Limited is an appointed representative of The Right Mortgage Ltd, St Johns Court,70 St Johns Close, Knowle, B93 0NH, which is authorised and regulated by the Financial Conduct Authority. Midland Mortgage Bureau Limited financial Services Register number is 756490. The Right Mortgage Ltd Financial Services Register number is 649443.