About this property
Key Features
Ideal investment opportunity
Allocated parking
Central town location
1 bedroom first floor flat
Description
An excellent opportunity to purchase a one bedroom first floor flat which is in need of updating/refurbishment, in the centre of the Cambridgeshire town of Chatteris.
The purpose built building is of brick construction beneath a predominantly pitched roof, and features a number of similar flats. A communal entrance door leads from the High Street to the First Floor, where the private entrance door to 13 Pecks Court can be found.
The accommodation comprises: Hall with airing cupboard; Kitchen with fitted carpet, a range of MDF base and wall units with stainless steel sink and space for white goods; Living Room with double glazed window to front and electric night storage heater; Bedroom with sash window to front, electric night storage heater and currently subdivided with lightweight partition to provide an additional store room; Bathroom with lino flooring, beige WC, wash hand basin and bath. The property would benefit from updating of the fittings and decorations.
Outside: To the rear of the property is a communal gravel parking area, for which the property has 1 allocated parking space.
The property would be ideal for an owner occupier or an investor buyer. It is understood that the flat was recently let at a monthly rent of £400, thereby offering a strong return. It is considered that there is potential for rental growth following the internal refurbishment of the property.
Tenure
Long leasehold with vacant possession
Location
From the centre of Chatteris, follow the High Street in a westerly direction, crossing over the mini-roundabout, and Pecks Court can then be found on the right hand side.
Lot Type
Residential
Tenancies
The property is held on long leasehold basis with a 125 year lease dating from 1986 and therefore with approximately 92 years remaining.
The property has a ground rent of £40 per annum. There is a service charge of £436 paid twice yearly and the insurance for the property is £425 per annum.
Legal Packs
www.cheffins.co.uk/auctions/property-auctions or Nikki Ashworth, Copleys Solicitors, Red House, 10 Market Hill, St Ives, Cambridgeshire, PE27 5AW
Viewing
Cheffins Property Auction Dept 01223 213777
Important notes
*Guide prices are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each 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 up to or within the Guide Range or no more than 10% above a single figure Guide. The reserve price will remain confidential between the seller and the auctioneer.
Fees: The guide price excludes any additional fees that the purchaser may incur, to include, but not limited to, Buyers Contract fee, Stamp Duty Land Tax, VAT, legal and search fees etc. Please refer to relevant Auction Legal Packs for details.�