1 bed flat for sale in Yelverton Road, Bournemouth, BH1 (ref: 648176)

Offered to cash purchasers only, this second floor town centre one bedroom apartment offers superb rental returns of 10%+ based on the current rental of £690pcm.

The accommodation comprises of lounge, kitchen, bedroom and bathroom. It is heated with gas, and has single glazed windows.

With relatively minor improvements the property could achieve upto £750pcm.

The property is to be sold with the tenant in situ, having been renting the property for six years. The tenancy is on a rolling periodic.

The lease requires renewal as 71 years are remaining.

Further information -

Lease years remaining - 71

Ground Rent - £311

Service Charges - £3180

Council Tax - A

EPC - D

IMPORTANT INFORMATION - PLEASE READ -

This property is being sold by conditional online auction. Unlike a private treaty sale (i.e. private negotiated sale), the property will be sold via an online auction and at the end of the auction, the highest bidder and seller contractually commit to progress the sale (which remains subject to contract) within a specified period, giving both parties commitment and more certainty that the transaction will proceed.

To see the current highest bid price, auction end date or length of exclusivity period, or, to log in or register to bid, please visit the property page on the agent's own website.

The auction bidding window will end at the time and date stated on this property's page on the agent's website. At that point, a reservation fee will be paid by the highest bidder, giving them an exclusive period of time (“Reservation Period”) in which to exchange contracts and complete the transaction, during which the seller agrees not to take steps to sell the property to anyone else. The reservation fee is non-refundable and for this property is £4,500.00 Inclusive of VAT. Reservation Fees do not contribute towards purchase prices (or deposit payments), although they will be considered as part of the chargeable consideration for the property in the calculation of stamp duty liability.

Occasionally, the seller of the property may charge additional fees, listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. We strongly recommend that you read the Legal Pack carefully before bidding and obtain independent legal advice, where necessary.

Contracts do not exchange immediately at the end of the auction period and can take place at any point during the Reservation Period. This can allow you time to raise a mortgage if you require one (and the property is mortgageable). The Reservation Period granted to the highest bidder is, however, time limited (note the length of this period will vary from property to property) and should you not exchange contracts and complete the transaction within this period, the seller shall be entitled to take steps to sell the property to a third party. The Reservation Period for this property is 56 days from the end of the auction. If you feel that you would require more time than this, please enquire with the agent before you place a bid, as the seller may be able to offer some flexibility.

Each property sold is subject to a reserve price - only offers in excess of the reserve price shall be accepted. The reserve price will be within 10% of the guide price. The guide price is provided as an indication so that a bidder can consider whether or not to pursue their interest.

All of our conditional online auctions are subject to our Bidder Terms, available at https://www.landmark.co.uk/wp-content/uploads/2023/03/Optimus-Bid-Bidder-Terms.pdf

NB – if you are interested in placing a bid for this property, you will need to register on the Auction Website via the link in the Bidding Window. There are several steps to complete for the registration including an ID check. It is recommended that you register asap to avoid disappointment but please note that bidder registration closes 24 hours before the end of the auction.

Once you have registered, you will have the opportunity to download and view the legal pack for the property. We recommend that you instruct your own legal advisers review this as they will be best placed to advise you and answer any questions.