1 bedroom Studio flat in West Bromwich

Flat 15, Salisbury House, Lily Street, West Bromwich B71 1QD
  • Lot No: 42
  • Property Type: Studio flat
  • Contract Type: Unconditional with Variable Fee

Guide Price* £27,500+ plus fees

Result Sold at Auction £29,000

Property Description

A well maintained ground floor studio flat conveniently located for Sandwell Hospital, which would make an ideal addition to an investment portfolio with an estimated yield of 10% once let, if purchased at the current guide price. The property is situated on a residential estate and is just over 1 mile from West Bromwich town centre. The property will be sold with vacant possession, however has previously been let at £350 per calendar month. The property benefits from double glazing. Tenure: Leasehold. We have been informed there is a ground rent of £37.50 per annum and service charge of £1,200 per annum. The Auctioneers have not verified this information and interested parties should refer to the legal pack.

Tenure

Leasehold

Auction Details: The sale of this property will take place on the stated date by way of Auction Event and is being sold as Unconditional with Variable Fee (England and Wales). 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 auctioneer’s fees apply:
  • 5% deposit (subject to a minimum of £5,000)
  • Buyer’s Fee of 4.8% of the purchase price for properties sold for up to £250,000, or 3.6% of the purchase price for properties sold for over £250,000 (in all cases, subject to a minimum of £6,000 inc. VAT). For worked examples please refer to the Auction Conduct Guide.
The Buyer’s 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.

Auction Details

Date 17th December 2021

Venue National Property Auction
The National Property Auction will be conducted behind closed doors. The auction will be live-streamed online with remote bidding only. Registration for bidding will close at 12pm the day before the auction.

Lot Information

Contact Us

If you have any questions, call our team on 0800 046 5454

Map

Flat 15, Salisbury House, Lily Street, West Bromwich B71 1QD