Detached house for sale in Glentworth Crescent, Skegness PE25

Summary
guide price £400,000 -

¦ A 20 room HMO residence, with live in managers accommodation
¦ Parking area to the rear of the property
¦ Flexible tenancy agreements & an AST for the managers accommodation
¦ Rental income of just over £94,000 for year ending 5th April 2024

description
Guide Price: £400,000

auction date: Tuesday 25th June 2024

bidder registration: Please ensure you are registered to bid on the Barnard Marcus Auctions website by 2pm on Monday 24th June 2024

Download legal documents from barnard marcus auctions website

Description
A 20 room HMO residence with additional live in managers’ accommodation comprising two/three bedrooms, kitchen and a bathroom. The property has regularly operated at full/near to full occupancy and the current owner runs the property as a fully licenced House of Multiple Occupancy (HMO). The tenancies offer flexibility to both the landlord and tenant and the accounts for year ending 5th April 2024 show rental income of just over £94,000. At full occupancy, the property has scope to achieve an annual rental income of around £120,000. The tenants make a nominal payment of £5 per person, included in their rent, towards the cost of utilities. (copies of the tenancy agreements are available in the legal pack). The managers’ accommodation is occupied under an AST and a new agreement was signed in March 2023
with a rental amount of £700pcm. The Council has decided that the house is reasonably suitable for occupation by not more than the maximum of 27 persons in 20 households.

Agent note:
Included within the legal pack is a letter from the Senior Housing Standards Officer for East Lindsey District Council confirming that as long as the requirements detailed in the correspondence are met, they see no reason why a new HMO licence wouldn’t be issued. Buyers are advised to conduct their own enquiries and due diligence to satisfy themselves in relation to obtaining relevant licences and permissions.

Accommodation
Ground floor: Porch, entrance hallway, 6 bedrooms, 2 lounge areas, 3 kitchen areas, boiler and utility room.
First floor: 11 bedrooms, a kitchen, 2 bathrooms and a WC.
Second floor: 3 bedrooms, kitchen and a shower room.

EPC: E

Council Tax Band: G

Tenure:
Freehold

Viewings:
No internal viewings available. By arrangement with the auctioneers - please see important advice for viewers on page 19 of this catalogue

for sale via the midlands auction centre in association with barnard marcus auctions on Tuesday 25th June 2024 at 9.00AM at the de vere grand connaught rooms, 61-65 great queen street, covent gardens, london WC2B 5DA. You can also register for online bidding.

Conditions of sale

The Conditions of Sale are available online and will be deposited at the offices of the auctioneers and vendor’s solicitors seven days prior to sale and the purchaser shall be deemed to have knowledge of the same whether inspected or not. Any questions relating to them must be raised prior to the auction. Prospective purchasers are advised to check with the auctioneers before the sale that the property is neither sold nor withdrawn. The purchaser will also be deemed to have read and understood the auction conduct notes printed within the sale catalogue.
Health & Safety Advice for Property Viewers.
Whilst the auctioneers make every effort to ensure the safety and security of viewers at lots, we have not carried out a detailed Health & Safety inspection of the lots in our auction and cannot therefore guarantee the safety and security of viewers. All persons attend properties entirely at their own risk. Particular care should be taken when accessing cellars, attics, exterior grounds, outbuildings and boundaries. All unaccompanied inspections of vacant sites should be made in daylight hours only and entry into such sites is entirely at the viewers’ risk.
*Guide and Reserve Prices
Guide Price: An indication of the seller's current minimum acceptable price at auction. The guide price or range of guide prices is given to assist consumers in deciding whether or not to pursue a purchase. It is usual, but not always the case that a provisional reserve range is agreed between the seller and the auctioneer at the start of marketing. As the reserve is not fixed at this stage and can be adjusted by the seller at any time up to the day of the auction in the light of interest shown during the marketing period, a guide price is issued. This guide price can be shown in the form of a minimum and maximum price range within which an acceptable sale price (reserve) would fall, or as a single price figure within 10% of which the minimum acceptable price (reserve) would fall. A guide price is different to a reserve price (see separate definition). Both the guide price and the reserve price can be subject to change up to and including the day of the auction.

Note

The auctioneers offer four ways to bid including internet, telephone, proxy, and live room bidding. Prospective purchasers will need to register to bid and pay a holding deposit before the sale commences by registering at Barnard Marcus Auctions website. We do not take credit card or cash deposits. The sale of each lot is subject to a documentation charge of £1,500 (including vat) payable on the fall of the hammer.
Guidance notes are set out in the catalogue in relation to auction lots, particularly from a purchasing perspective.

1. Money laundering regulations: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
2. General: While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.
3. Photographs and Measurements: Some images may have been taken by a wide angled lens camera. These approximate room sizes are only intended as general guidance. You must verify the dimensions carefully before ordering carpets or any built-in furniture.
4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.
5. 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 buyers or tenants. Neither sequence (UK) limited nor any of its employees or agents has any authority to make or give any representation or warranty whatever in relation to this property.