1 Bed Flat For Sale Turner Road, Colchester, CO4
£110,000- Flat
Auction Property
Short Lease
1 of 9
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We appreciate the listed price showing isn’t necessarily the price you would buy this property for, as it is in auction. However, we hope some confidence can be gained from our system successfully being able to identify this as potentially below market value.
Last Updated: 16th May 2024
Description
FOR SALE BY PUBLIC AUCTION ON WEDNESDAY 5TH JUNE 2024 AT 12.00PM. LIVE STREAMED VIA DEDMAN GRAY WEBSITE. BIDDING AVAILABLE BY TELEPHONE, PROXY AND ONLINE\r
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BUY TO LET INVESTMENT: A WELL PRESENTED MODERN APARTMENT WITH BALCONY CLOSE TO COLCHESTER NORTH STATION OFFERED WITH VACANT POSSESSION \r
A one bedroom apartment located within a stones throw from Colchester's mainline train station, General Hospital and Turner Rise Retail Park. It is considered that his second floor apartment is ideal for letting and could achieve a rental income of £900 per month (10,800 per annum). The building has an intercom system, an elevator, bike and bin stores. There is an allocated parking and the apartment itself benefits from an open plan living/kitchen with balcony. \r
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Entrance Hall\r
Open Plan Living Room -16'1\" x 11'11\" \r
Balcony\r
Kitchen - 8'9\" x 7'3\"\r
Bedroom - 11'6\" x 10'9\")-\r
Bathroom - 7'0\" x 5'7\" -\r
An EW1S review was carried in December 2020 and subsequent EW1S form concluded that remedial works are required. \r
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The lease term is 125 years from June 2014. We are advised that the the lease includes a rising ground rent. \r
We are advised by the seller that the below leasehold charges apply\r
Ground Rent- £364 per annum \r
Service Charges-£1784.76 per annum \r
The rising ground rent within the lease and the result of the EW1S review may limit the potential to raise a mortgage/finance on this property. \r
B
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BUY TO LET INVESTMENT: A WELL PRESENTED MODERN APARTMENT WITH BALCONY CLOSE TO COLCHESTER NORTH STATION OFFERED WITH VACANT POSSESSION \r
A one bedroom apartment located within a stones throw from Colchester's mainline train station, General Hospital and Turner Rise Retail Park. It is considered that his second floor apartment is ideal for letting and could achieve a rental income of £900 per month (10,800 per annum). The building has an intercom system, an elevator, bike and bin stores. There is an allocated parking and the apartment itself benefits from an open plan living/kitchen with balcony. \r
\r
\r
Entrance Hall\r
Open Plan Living Room -16'1\" x 11'11\" \r
Balcony\r
Kitchen - 8'9\" x 7'3\"\r
Bedroom - 11'6\" x 10'9\")-\r
Bathroom - 7'0\" x 5'7\" -\r
An EW1S review was carried in December 2020 and subsequent EW1S form concluded that remedial works are required. \r
\r
\r
The lease term is 125 years from June 2014. We are advised that the the lease includes a rising ground rent. \r
We are advised by the seller that the below leasehold charges apply\r
Ground Rent- £364 per annum \r
Service Charges-£1784.76 per annum \r
The rising ground rent within the lease and the result of the EW1S review may limit the potential to raise a mortgage/finance on this property. \r
B
Agent Details
Dedman
103, The Broadway, Southend-on-sea, SS1 3HQ
Show Contact Number
01702 311 111
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Legal - YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY DEBT SECURED ON IT.
Property Forecaster are working in partnership with Midland Mortgage Bureau Limited. Midland Mortgage Bureau Limited is an appointed representative of The Right Mortgage Ltd, St Johns Court,70 St Johns Close, Knowle, B93 0NH, which is authorised and regulated by the Financial Conduct Authority. Midland Mortgage Bureau Limited financial Services Register number is 756490. The Right Mortgage Ltd Financial Services Register number is 649443.
Property Forecaster are working in partnership with Midland Mortgage Bureau Limited. Midland Mortgage Bureau Limited is an appointed representative of The Right Mortgage Ltd, St Johns Court,70 St Johns Close, Knowle, B93 0NH, which is authorised and regulated by the Financial Conduct Authority. Midland Mortgage Bureau Limited financial Services Register number is 756490. The Right Mortgage Ltd Financial Services Register number is 649443.