Being Sold via Secure Sale online bidding. Terms & Conditions apply. Starting Bid £120,000
A generously proportioned and thoughtfully designed first-floor studio apartment enjoying a sunny outlook, set within this prestigious purpose-built student development comprising a small block of exclusive apartments for full-time students. The property represents an excellent investment opportunity, offering secure and dependable rental income.
Primrose Lodge is a well-established and highly regarded student complex made up of spacious, individually owned apartments. The building benefits from excellent security features including CCTV surveillance and a secure entry-phone system. Residents also enjoy secure indoor bicycle storage, a communal bin store, landscaped gardens, a comfortable residents’ lounge, and a dedicated shared study area.
Occupying a convenient position at the end of Primrose Street, the development is within easy reach of the city centre and nearby colleges, making it particularly attractive to students.
The accommodation comprises a bright and spacious bed-sitting room with a large window allowing for plenty of natural light, along with a built-in double wardrobe featuring mirrored sliding doors. The modern kitchen area is well appointed with ample storage units, an integrated fridge/freezer, washer/dryer, microwave combination oven, and electric hob. The particularly generous shower room is fitted with a contemporary three-piece suite including a shower cubicle, WC, and wash hand basin.
The apartment is currently let until September at £1,200 per calendar month, providing immediate and reliable rental income. EPC rating: B. Council tax band: A, Tenure: Leasehold, Annual ground rent: £400, Annual ground rent review period (years): 1, Annual service charge: £1385.99, Annual service charge review period (years): 1, Known building safety issues or planned/required works: None at the time of listing. Planning permissions: None at the time of listing.
Kitchen area comprises integrated Microwave oven, fridge freezer, washer dryer, 2 ring induction hob and storage units.
Bedroom area comprises double bed, mattress and mattress cover, fitted wardrobes providing ample storage with mirror and TV point.
The Shower room comprises a walk in shower unit, wash hand basin and low level WC, Heated towel rail. Alongside a wall mounted unit with mirror and shaver point.
Communal lounge room is shared with all apartments and hosts sofa, table and chairs creating an ideal social area.
Area to the rear of the property provides an enclosed area to study or socialise.
240 years remaining on the lease.
Annual Service Charge is £1,385.99 and is reviewed on an annual basis.
Ground rent is £400 per annum.
Pattinson Auction are working in Partnership with the marketing agent on this online auction sale and are referred to below as 'The Auctioneer'.
This auction lot is being sold either under conditional (Modern) or unconditional (Traditional) auction terms and overseen by the auctioneer in partnership with the marketing agent.
The property is available to be viewed strictly by appointment only via the Marketing Agent or The Auctioneer. Bids can be made via the Marketing Agents or via The Auctioneers website.
Please be aware that any enquiry, bid or viewing of the subject property will require your details being shared between both any marketing agent and The Auctioneer in order that all matters can be dealt with effectively.
The property is being sold via a transparent online auction.
In order to submit a bid upon any property being marketed by The Auctioneer, all bidders/buyers will be required to adhere to a verification of identity process in accordance with Anti Money Laundering procedures. Bids can be submitted at any time and from anywhere.
Our verification process is in place to ensure that AML procedure are carried out in accordance with the law.
The advertised price is commonly referred to as a ‘Starting Bid’ or ‘Guide Price’ and is accompanied by a ‘Reserve Price’. The ‘Reserve Price’ is confidential to the seller and the auctioneer and will typically be within a range above or below 10% of the ‘Guide Price’ / ‘Starting Bid’.
These prices are subject to change.
An auction can be closed at any time with the auctioneer permitting for the property (the lot) to be sold prior to the end of the auction.
A Legal Pack associated with this particular property is available to view upon request and contains details relevant to the legal documentation enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers’ obligations and sellers’ commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.
In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit equivalent to 5% of the purchase price of the property. The deposit will be a contribution to the purchase price. A non-refundable reservation fee of up to 6% inc VAT (subject to a minimum of 6,000 inc VAT) is also required to be paid upon agreement of sale. The Reservation Fee is in addition to the agreed purchase price and consideration should be made by the purchaser in relation to any Stamp Duty Land Tax liability associated with overall purchase costs.
Both the Marketing Agent and The Auctioneer may believe necessary or beneficial to the customer to pass their details to third party service suppliers, from which a referral fee may be obtained. There is no requirement or indeed obligation to use these recommended suppliers or services
These particulars are issued in good faith but do not constitute representations of fact or form part of any offer or contract. The matters referred to in these particulars should be independently verified by prospective purchasers. Belvoir Cambridge, its employees and its agents are not authorised to make or give any representation or warranty whatsoever in relation to this property. All information included, descriptions, images used and sales floor plans are for illustration purposes only.
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