Albert Road, Tamworth
£275,000 For Sale

Property Details

8 1 2
  • Fully Tenanted HMO
  • Annual Income £33,800
  • 7 Bedrooms with Sink's and Fitted Beds
  • 1 Self Contained Flat with Kitchen and Shower Room
  • 2 Communal Kitchens
  • 2 Communal Shower Rooms
  • Gas Central Heating
  • Central Town Centre Location
  • Close to Train Station
  • Brand New Roof

For Sale through the Modern Method of Auction ++ Licenced HMO ++ Fully Tenanted with 7 Bedrooms and 1 Self Contained Flat ++ £33,800 Gross Annual Income (11+% Gross Yield) ++ Town Centre Location ++ Close to Railway Station ++ Brand New Roof ++

We are pleased to offer For Sale by Auction this substantial dwelling close to Tamworth Town Centre. Being a licenced HMO, the property has a gross annual income of £33,800, giving a gross yield of 11+%.
The property is fully tenanted, and has recently had a new roof.

GROUND FLOOR The ground floor has a through hallway with Rooms 1 and 2 leading off. There is a fitted kitchen with store area off.
Stairs lead up to the first floor.

FIRST FLOOR The first floor landing gives access to rooms 4, 5 and 6, and front door to the self contained flat known as Flat 3. There is a communal shower room to the first floor and stairs to the second floor.
Flat 3 has its own shower room, kitchen, living room and bedroom.

SECOND FLOOR The second floor hosts rooms 7 and 8, with communal shower room and communal kitchen.

This property is for sale by the Modern Method of Auction which is not to be confused with traditional auction. The Modern Method of Auction is a flexible buyer friendly method of purchase. We do not require the purchaser to exchange contracts immediately, but grant 28 days to achieve exchange of contracts from the date the buyer's solicitor is in receipt of the draft contracts and a further 28 days thereafter to complete. Allowing the additional time to exchange on the property means interested parties can proceed with traditional residential finance. Upon close of a successful auction or if the vendor accepts an offer during the auction, the buyer will be required to put down a non-refundable Reservation Fee of 3.5% to a minimum of £5,000.00 + VAT (£1,000.00) = (£6,000.00) which secures the transaction and takes the property off the market. Fees paid to the Auctioneer may be considered as part of the chargeable consideration for the property and be included in the calculation for stamp duty liability. Further clarification on this must be sought from your legal representative. The buyer will be required to sign an Acknowledgement of Reservation form to confirm acceptance of terms prior to solicitors being instructed. Copies of the Reservation form and all terms and conditions can be found in the Buyer Information Pack which can be downloaded for free from the auction section of our website or requested from our Auction Department. Please note this property is subject to an undisclosed reserve price which is generally no more than 10% in excess of the Starting Bid; both the Starting Bid and reserve price can be subject to change. Terms and conditions apply to the Modern Method of Auction, which is operated by West Midlands Property Auction powered by iam-sold Ltd.