for auction in Melton Mowbray

Description

A development site in a highly regarded village location.

The site currently houses a pair of semi-detached houses which have been converted into four self contained one bedroom flats.

Three of the flats are let at £600 pcm and one is vacant. Estimated Rental Value of £30,000 per annum.

Full planning permission has been granted for the demolition of the flats and erection of two executive detached houses with gardens, parking and garages. Planning Ref 22/00637/FUL.

The site had previous planning permissions for alternative schemes. In 2016 planning was granted for five three bedroom town houses and one Detached Cottage. In 2017 planning was granted for two three bedroom detached houses and two three bedroom semi detached houses. Both of these permissions have now lapsed.

But there maybe scope for alternative schemes, subject to planning.

The site could be kept as is with potential rental income of circa £34,000 per annum.

Well placed for access to Nottingham, Loughborough, Leicester, Grantham, Newark and Rutland Water as well as major road links.

Tenure

Freehold

Occupancy

Part Let Part Vacant

Costs

Auction Details

The sale of this property will take place on the stated date by way of Live streamed auction and is being sold under the Unconditional sale type.

Binding contracts will be exchanged at the point of sale.

All sales are subject to our Common Auction Conditions and Bidder Terms. Properties located in Scotland and Northern Ireland will be subject to applicable local laws.

Auction Deposit and Fees

The following deposits and non- refundable auctioneers fees apply:

• 5% deposit (subject to a minimum of £5,000)

• Buyer’s Fee of 4.8% of the purchase price (subject to a minimum of £6,000 inc. VAT)

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 our auction processes, please refer to the Bidder Terms which can be viewed on our home page.

This explains the types of auction and sale methods we offer, the bidding 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.

General

Draft Sales Particulars
These sales details are awaiting vendor approval

Potential
May be scope for alternative schemes, subject to obtaining the necessary consents. Prospective buyers must make all necessary independent enquiries in this respect for their specific, intended use prior to placing their bid, as this will be binding.