5 bedroom Block of Apartments in Southampton

79-80 Canal Walk, Southampton SO14 3BH
  • Lot No: 120
  • Property Type: Block of Apartments
  • Contract Type: Unconditional with Variable Fee

Guide Price* £495,000+ plus fees

Result Sold at Auction £530,000

Property Description

A recently refurbished investment block of 5 apartments currently generating a handsome income of £58,500 per year, and boasting close to 1,200 sq. ft. of accommodation. What a stunning investment Canal Walk is. If you are looking to add a quality investment to your portfolio then they dont come much better than this. Recently refurbished to an extremely high standard and fully let with a superb income of £58,500 per year which equates to almost 12% yield based on the guide price. Registering to bid is highly recommended on this investment.

Apartment One:

Currently generating an income of £900 pcm (£10,800 pa). 215 Sq. Ft. of accommodation. Includes a double bed, a kitchenette which is equipped with 2 electric hobs, microwave and fridge, and bathroom with shower.


Apartment Two:

Currently generating an income of £950 pcm (£11,400 pa) 237 Sq Ft of accommodation. Includes a double bed, a kitchenette which is equipped with 2 electric hobs, microwave and fridge, and bathroom with shower.


Apartment Three:

Currently generating an income of £950 pcm (£11,400 pa) 215 Sq Ft of accommodation. Includes a double bed, kitchenette which is equipped with 2 electric hobs, microwave and fridge, and bathroom with shower.


Apartment Four:

Currently Generating an income of £975 pcm (£11,700 pa) 226 Sq Ft of accommodation. Includes a double bed, kitchenette which is equipped with 2 electric hobs, microwave and fridge, and bathroom with shower.


Apartment Five:

Currently Generating an income of £1,100 pcm (£13,300 pa) 280 Sq Ft of accommodation. Includes a double bed, kitchenette which is equipped with 2 electric hobs, microwave and fridge, and bathroom with shower.


Note

Prospective buyers are advised to make all necessary independent enquiries prior to placing their bid as this will be binding.


Draft Sales Details

These sales details are awaiting vendor approval.


Tenure

Freehold

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 25th May 2023

Venue National Property Auction
The National Property Auction will be broadcast live on our website and open to remote bidding online, on the phone and by proxy. Registration for bidding will close at 5pm the day before the auction.

Lot Information

Contact Us

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

Map

79-80 Canal Walk, Southampton SO14 3BH