Wasley Road, Cheltenham, GL51 7TW
£40,000
Guide Price
Property Features
- Spacious 1-bedroom tenanted flat (475 sq ft)
- Competitively priced for 28-day auction and chain free
- To be sold with tenant in situ
- Current rental income £550 pcm (paid on time)
- Gross yield = 15-16% (based on guide price)
- In need of full refurbishment
- Service charge - £1,200 pa
- Ground rent = £10 pa
- Living room (174.84 sq ft)
- Fitted kitchen (81.00 sq ft)
- Bedroom 1 (129.32 sq ft)
- Sizable bathroom (28.60 sq ft)
- Private balcony
- Close to all essential amenities in Cheltenham
Property Summary
This property is to be offered for sale by PROPERTY SOLVERS ONLINE UNCONDITIONAL AUCTION (28-DAY IMMEDIATE EXCHANGE).Property Solvers Online Auctions is delighted to present this spacious 1-bedroom tenanted flat (475 sq ft) located in Wasley Road, Cheltenham. This property is a great starting point for a savvy investor looking to enter the market.
This well-positioned one-bedroom flat on Wasley Road, Cheltenham, presents an attractive opportunity for investors seeking a tenanted property with an existing rental income. The property is situated in a convenient residential location, offering easy access to Cheltenham town centre and a range of local amenities, shops and transport links.
The flat provides a practical layout with a well-proportioned living room (174.84 sq ft), fitted kitchen (81.00 sq ft), one bedroom (129.32 sq ft) and a sizable bathroom (28.60 sq ft). The property also features a private balcony. The property offers a straightforward investment opportunity and benefits from an existing tenant, providing continuity of rental income for the incoming owner.
Located within the popular town of Cheltenham, the property is well placed for access to the town centre, local employment opportunities, retail facilities and leisure amenities. This could therefore appeal to both experienced landlords and investors looking to add a relatively low-maintenance residential property to their portfolio.
More Information
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28-day unconditional auction terms + conditions, AML requirements and fees are available on our website (Google "Property Solvers Auctions" and select "Auction Property for Sale" in the navigation).
The preliminary legal pack can be viewed directly via the auction listing itself. Property Solvers Auctions will update the legal pack and inform all parties that express interest in bidding. For conveyancing searches that are not received in time for the auction, a Professional Indemnity Insurance policy can be taken out.
Notice to Bidders
Please be aware that if your bid is successful on auction day, the exchange of contracts will happen immediately after the Auction. A 10% deposit will be required.
As part of the Property Solvers Online Auction process, bidders will be required to register online and provide proof of ID documents (passport and photo driving license). For a full list of requirements, please see the legal pack documents.
Buyer Reservation Fee
A 2% + VAT (non-refundable) fee (subject to a minimum of £2,000 + VAT) plus a £125 + VAT processing fee will be due from the winning bidder.
Generally speaking, guide prices are provided as an indication of each seller's minimum expectation, i.e. 'the reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction.
Virtually every property will be offered subject to a reserve (a figure below which the auctioneer cannot sell the property during the auction) which we expect will be set within the guide range or no more than 10% above a single figure guide.
