This property is quite simply a superb opportunity for any savvy investor looking to take over an established source of rental income offering a fantastic yield of over 9%.
Previously the Wagon & Horses pub, 'The Coach House' is now a full refurbished 11 bedroom HMO with modern appliances and fittings throughout, sitting tenants already in place, off road parking, and excellent facilities.
The newly developed and refurbished Coach House contains 10 double bedrooms and 1 single bedroom, some suitable for a couple and each with new ensuite shower and toilet facilities. Each bedroom has a new suite of furniture including a bed with under-mattress stroage, a wardrobe, chest of drawers, bedside cabinet, under-counter fridge with ice-box, storage cupboard for food and a work surface / desking area.
In addition, there is a large kitchen which is designed to accommodate up to 12 residents with 3 ovens and hobs plus plenty of work surfaces and storage. Residents will also have large dining and lounge to relax and socialise. Both rooms have large wall-mounted TVs installed. The landlord has also provided 2 microwaves, 2 kettles, toaster, a range of crockery, cutlery, pots and pans and cooking utensils for residents' use.
*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 powered by IAM Sold.
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 buyer to exchange contracts immediately; however, from the date the draft contract for sale is received by the Buyer's solicitor, the buyer has 56 DAYS in which to complete the transaction; whilst using every endeavour to exchange contracts within the first 28 days. Allowing the additional time to exchange contracts 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 make payment of:
Energy Performance Certificates (EPCs) give information on how to make your home more energy efficient and reduce your energy costs. All homes bought, sold or rented require an EPC. EPCs carry ratings that compare the current energy efficiency and estimated costs of energy use with potential figures that your home could achieve. Potential figures are calculated by estimating what the energy efficiency and energy costs could be if energy saving measures were put in place. The rating measures the energy efficiency of your home using a grade from ‘A’ to ‘G’. An ‘A’ rating is the most efficient, while ‘G’ is the least efficient. The average efficiency grade to date is ‘D’. All homes are measured using the same calculations, so you can compare the energy efficiency of different properties.
Laundry For those residents who prefer not to take up the fully serviced rooms there is a laundry room which houses both washing machines and tumble dryers. External Space There are 6 parking bays to the rear of a car park which are available on a first-come-first-served basis to residents. For those residents who prefer to cycle there is a purpose built cycle storage rack which is, once again, behind the car park gates. All communal areas within and external to the property are monitored on a 24/7 basis via CCTV. Transport The Coach House is conveniently located on a good commuter and public transport route to the city and further afield. The Stoke-on-Trent train station is on the number 11 bus route. Other bus routes also service this thoroughfare and travel to the station and First Buses operate in the area and their depot is located less than 3 minutes’ walk from the Coach House. Routes include: 12 - Hanley - Bentilee - Meir Hay – Longton; 11 Hanley - Bentilee - Longton – Newcastle; 37 Longton - Meir - Bentilee - Hanley – Lymedale; 12A - Hanley - Bentilee - Saxonfields – Longton Other useful and local conveniences and essential services within 5-10 minutes’ walk include: Lidl supermarket; Alderley Green GP Surgery; MyDentist dental surgery; Base Body Fitness Gym
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This property is sold subject to payment of a non-refundable reservation fee of 4.2% to a minimum of £6,000.00 including VAT.
Any successful purchaser will pay this to secure the sale. The reservation fee is in addition to the purchase price. Please take this into account when bidding.
A reservation fee is payable by the buyer only when the seller pays no fees to sell. As sellers pay no fees to sell, this is usually taken into account with a lower reserve price.
This property is being sold under the Modern Method of Auction, which requires the completion of the purchase to be within 56 days, although all reasonable endeavours must be made to exchange contracts within 28 days following the Draft Contract being received by the Buyer's Solicitor.
A non-refundable Reservation fee must be paid by the buyer within 2 hours following the conclusion of the auction or acceptance of an offer. This must be paid by cleared funds to the auctioneer who will issue an acknowledgement of reservation and purchase agreement In the 28 day period following the auction or the date of acceptance of the offer.
If the Buyer Information Pack Pack has been produced and provided by IAM Sold any successful purchaser will be required to pay £220.00 (including VAT) towards the cost of the preparation of the pack. These can then be used by your solicitor to progress the sale.
There are no other fees or charges payable to the Auctioneer however, there are other costs to consider such as:
For further information or to speak to one of our team, please call 0121 366 0539.
These particulars, whilst believed to be accurate are set out as a general outline only for guidance and do not constitute any part of an offer or contract. Intending purchasers should not rely on them as statements of representation of fact, but must satisfy themselves by inspection or otherwise as to their accuracy. No person in this firms employment has the authority to make or give any representation or warranty in respect of the property.