Land for auction in Newcastle

Description

A freehold site extending to 0.23 acres (or thereabouts) cleared and with Permission in Principle for the construction of 9 high quality two bedroomed residential apartments.

More information can be found on the Newcastle Under Lyme Borough Council Planning Portal Ref: 26/00176/PIP

We feel there may be scope for an alternative scheme of higher density or a commercial use (subject to planning).

We are advised by the seller that two bedroomed apartments are achieving £850-£950 per calendar month. On an average income of £900 per calendar month, the nine apartments would generate income circa of £97,000 annually. Interested parties are advised to make all necessary independent enquiries in this regard prior to bidding, as any bid made will be binding.

Services

Services are believed to be available within the vicinity of the site. However, interested parties should independently satisfy themselves as to the availability and suitability of any services for their specific requirement.

Rights of Way, Wayleaves, Easements, Restrictive Covenants, etc

The site is sold subject to or with the benefit of any Rights of Way, Wayleaves, Easements, Restrictive Covenants, which may exist whether mentioned in these particulars or not. For further information in relation to these matters please refer to the legal pack.

Viewings

The site is open for viewings.

Tenure

Freehold

Occupancy

Vacant posession upon completion

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:

• 10% deposit (subject to a minimum of £5,000)

• Buyer’s Fee of £1,500 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