Portland Street, Sutton in Ashfield

SOLD BY ON LINE AUCTION THURSDAY 17TH APRIL 2025 FOR £76,000

To be sold by Public Online Auction (unless sold previously by Private Treaty) Thursday 17th April 2025.
A traditional three storey end town house to be sold subject to the existing Tenancy. Ready made investment producing an immediate income stream.

Description And Situation - Here is an excellent opportunity for the investor to purchase a traditional, end town house that is being sold subject to the existing tenancy.

The property is let to tenants who have been in occupation under an Assured Shorthold Tenancy that commenced on the 19th February 2010. The current passing rental which was last reviewed in January 2024 amounts to £500 per calendar month and there is considerable potential for rental growth.

The property enjoys a highly convenient, central location gaining excellent access into Sutton in Ashfield town centre with all of its facilities.

The property will be of immediate interest to those wishing to establish or expand an investment portfolio.

The property is in an area where Compulsory Selective Licensing by Landlords has been introduced by Ashfield District Council. A licence has been granted to the present Landlord. It is envisaged that the introduction of Compulsory Selective Licensing will enhance the area with potential for capital growth.

Accommodation - The accommodation comprises:

Ground Floor: -

Porch -

Entrance Hall - With central heating radiator and staircase giving access to the first floor accommodation.

Lounge - 3.12 x 3.61 plus bay (10'2" x 11'10" plus bay) - Double glazed bay window, central heating radiator. Gas fire which has been disconnected.

Dining Room - 4.21 x 3.56 (13'9" x 11'8") - Double glazed window and central heating radiator. Door to the cellar.

Kitchen - 3.04 x 1.88 (9'11" x 6'2") - Equipped with base and wall mounted storage cupboards including a stainless steel single drainer sink unit, plumbing for washer, space for cooker, central heating radiator and door to rear gardens.

First Floor: -

Landing - Staircase giving access to the attic room.

Bedroom - 4.23 x 2.55 (13'10" x 8'4") - Double glazed window and central heating radiator.

Bedroom - 3.33 x 3.40 (10'11" x 11'1") - Double glazed window and central heating radiator.

Bathroom/W.C - 1.94 x 2.97 (6'4" x 9'8") - Equipped with a bath with plumbed in shower above, wash hand basin and W.C. Double glazed window and central heating radiator.

Attic Room - 4.22 x 5.34 (13'10" x 17'6") - Roof light to the rear roof slope and central heating radiator.

Outside - To the front of the property there is a shallow forecourt. The rear gardens are enclosed by stone walls and fencing.

Tenure - Freehold subject to the existing Tenancy.

Viewing - Strictly arranged by the Sole Auctioneers.

Services - All main services are available and connected. Drainage is to the main sewer.

Council Tax - A -

Method Of Sale - The property will be sold by Online Auction (unless sold previously by Private Treaty). Full information regarding the Online Auction process is available on our website order to bid on this Lot interested parties must follow the registration procedures.

Interested parties should note that our On Line Auctions are Traditional Auctions (not to be confused with "Modern Method of Auctioneering"). The fall of the hammer creates a binding contract. There is no reservation fee payable on the part of the buyer.

Guide Price - An indication of the sellers current minimum acceptable price at auction. The guide price or a range of guide prices is given to assist consumers in deciding whether or not to pursue a purchase. It is usual but not always the case that a provisional reserve range is agreed between the seller and auctioneer at the start of marketing. As the reserve is not fixed at this stage and can be adjusted by the seller at any time upto the day of auction in the light of interest shown during the marketing period, a guide price is issued. The guide price can be shown in the form of a minimum and maximum price range within which an acceptable sale price (reserve) would fall or as a single figure. The reserve price would not normally be higher than the guide price. A guide price is different to a reserve (see below). Both the guide price and reserve price can be subject to change upto and including the day of the auction.

Reserve Price - This is the sellers minimum acceptable price at auction and the figure below which the auctioneer cannot sell. The reserve price is not disclosed and remains confidential between the seller and the auctioneer. This is the sellers minimum acceptable price at auction and the figure below which the auctioneer cannot sell. The reserve price is not disclosed and remains confidential between the seller and the auctioneer.