LOT 25

North Bank, 4 Otterburn Villas, Newcastle upon Tyne, Tyne and Wear, NE2 3AR

A LONG LEASEHOLD RESIDENTIAL INVESTMENT PROPERTY, COMPRISING A SECOND AND THIRD FLOOR, SIX BEDROOM, THREE BATHROOM FLAT CURRENTLY PRODUCING £29,640.24 P.A.

Result: Sold for £291,000 Guide price: £275,000 PLUS*

Auction Date

Tuesday, 14th July 2020 12:00pm

The property is situated in the popular and affluent Newcastle suburb of Jesmond, approximately one mile north of Newcastle Upon Tyne city centre, on a pleasant, tree lined street, within a predominantly residential area, with a mixture of house types and sizes. Local amenities include two small supermarkets (Tesco and Waitrose) and various other services and shopping as well as banks, restaurants, cafes and pubs. The property lies equidistant between Jesmond and West Jesmond metro stations. The property is arranged over the second and third floors of an original semi-detached house now converted into a block of four flats. In all extending to circa 141.60 sq m (1,525 sq ft)

Tenure

The property is held by way of a long leasehold of 120 years from 14th October 1982 (thus approximately 82 years unexpired)

Accommodation

Second Floor: one open plan kitchen and living area, four bedrooms and two bathrooms
Third Floor: two bedrooms and one bathroom
External Small communal front garden with an allocated car parking space

Tenancy Details

The property is let by way of a 12 month AST from 01/07/2020 to six private individuals (understood to be students) at a rent of £2,470.02 PCM

Status

Sold for £291,000

Joint Auctioneer

Gemma Taylor

Gemma Taylor of Taylor Estates: 07903 808728

* The Notice to Bidders, which can also be seen on the inside front cover of the hard copy catalogue, includes a definition of Guide Price [section #17] Note that in addition to the purchase price there is a buyer’s administration fee [section #13] and there may be additional non-optional fixed or variable fees and costs [section #8]. To establish the full cost of purchasing a property, please inspect the legal documentation/special conditions. Please also check strettons.co.uk for updates.