Lot 241

Regis House, 40 London Road, King's Lynn, Norfolk PE30 5QH

Guide Price: £235,000 - £245,000

Description:

An opportunity to acquire a three storey five bedroom property located the heart of the popular Norfolk market town of King's Lynn. The property benefits from a H.M.O licence, gas central heating to radiators, upvc double glazing to rear. The five bedrooms are all currently let on assured short hold tenancy agreements and currently produce £27,800 per annum (11% yield). The property is located on London Road which is a major thoroughfare into the town, so offers access to all the towns shops, banks, business and leisure facilities and A47 trunk road. This lot makes an ideal investment purchase.

Ground Floor: Entrance hall, communal sitting room, kitchen, down stairs shower room, bedroom one. First Floor: Landing, Bedrooms 2,3 & 4, cloakroom, lounge area, shower room. Second Floor: Bedroom 5, dressing room. Exterior: Front garden laid to gravel, enclosed rear courtyard.

Tenure

Freehold

EPC Rating

E.

Conditions of Sale

The Conditions of Sale will be deposited at the offices of the auctioneers, William H Brown’s East Anglian Auction Centre, and vendors solicitors seven days prior to sale and the purchaser shall be deemed to have knowledge of same whether inspected or not. Any questions relating to them must be raised prior to 11.30am. Prospective purchasers are advised to check with the auctioneers, East Anglian Auction Centre, before the sale that the property is neither sold or withdrawn. The purchaser will also be deemed to have read and understood the auction conduct notes and Important Notice printed within the sale catalogue.

Health & Safety Advice for Property Viewers

Whilst William H Brown make every effort to ensure the safety and security of viewers at properties, we have not carried out a detailed Health & Safety inspection of the properties in our auction and cannot therefore guarantee the safety and security of viewers. Prospective purchasers and bidders attend properties entirely at their own risk. Particular care should be taken when accessing cellars, attics, exterior grounds, outbuildings and boundaries. All non-conducted inspections of vacant sites should be made in daylight hours only and entry into such sites is entirely at the viewers risk.

Guides 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. Reserve Price: The seller’s minimum acceptable price at auction and the figure below which the auctioneer cannot sell. The reserve price is not disclosed and remains confidential between the seller and the auctioneer. Both the guide price and the reserve price can be subject to change up to and including the day of the auction.

Note

Prospective purchasers will need to register within the auction room before the sale commences. Two items of identity will be required together with an indication of how a contractual deposit will be paid. We do not take cash or credit card deposits. The sale of each lot is subject to a contract documentation charge of £1150 (including VAT) payable on the fall of the hammer. If you are unable to attend the auction for any reason you can still bid on the property either by telephone or proxy bid, please contact the auctioneers for further information. Guidance notes are set out in the catalogue in relation to auction property, particularly from a purchasing perspective. East Anglian Auction Centre are contactable at 5 Bank Plain, Norwich, Norfolk, NR2 4SF, Telephone: 01603 598975 Visit our Website at www.williamhbrownauctions-norwich.co.uk - Legal Packs available.