AUCTION SALE – CASH OR AUCTION FINANCE WELCOME – COMPLETE IN 28 DAYS

Description

INFORMATION FROM THE AGENT

Auction sale cash or auction finance welcome complete in 28 days

13 & 13A Grove Road, Fenton, Stoke-on-Trent, Staffordshire ST4 3AY

Guide Price: £90,000

Freehold Investment Comprising Two Self-Contained Apartments Currently Let | Approximate Gross Rental Yield of 15%

A High-Yielding Residential Investment

An excellent opportunity to acquire a freehold property comprising two self-contained two-bedroom apartments, both currently occupied by tenants, producing an attractive income with an expected gross rental yield of approximately 14% based on the guide price.

Offered for sale by The Auction Company, this substantial investment property is held under a single freehold title and is ideally suited to landlords, portfolio investors and those seeking a ready-made income-producing asset.

Situated in the popular residential area of Fenton, the property enjoys convenient access to Stoke-on-Trent city centre, Staffordshire University, Royal Stoke University Hospital and the A50, A500 and M6 motorway network.

Apartment 13 – Ground Floor

Approximate Floor Area: 74.6 sq.m. (803 sq.ft.)

Well-proportioned accommodation comprising:

· Entrance Hall

· Spacious Lounge

· Two Double Bedrooms

· Fitted Kitchen

· Bathroom

· Utility Room

The generous accommodation offers excellent family-sized living space and remains attractive to the local rental market.

Apartment 13A – First Floor

Approximate Floor Area: 54.5 sq.m. (587 sq.ft.)

Accommodation comprises:

· Landing

· Lounge

· Two Bedrooms

· Kitchen

· Bathroom

A spacious first-floor apartment offering practical accommodation with strong rental appeal.

Investment Summary

· Freehold title

· Two self-contained apartments

· Both currently tenanted

· Combined floor area of approximately 129.1 sq.m. (1,390 sq.ft.)

· Established residential investment

· Immediate rental income from completion

· Estimated gross rental yield of approximately 14% based upon the guide price of £90,000

The property offers investors an opportunity to acquire an income-producing asset with potential for future rental growth, subject to market conditions and tenancy agreements.

Location

Grove Road is located within the established residential suburb of Fenton, one of Stoke-on-Trent's most popular rental locations.

The property benefits from close proximity to:

· Stoke-on-Trent City Centre

· Staffordshire University

· Royal Stoke University Hospital

· Fenton town centre amenities

· Local schools and supermarkets

· Excellent public transport links

· A50, A500 and Junction 15 of the M6 motorway

The location continues to experience consistent demand from tenants due to its affordability and excellent connectivity.

Tenure

Freehold

The property is offered as one freehold title incorporating both self-contained apartments.

Tenancy

Both apartments are currently let, providing immediate income from completion.

Prospective purchasers should refer to the Auction Legal Pack for full tenancy details, tenancy agreements and current rental income.

EPC

Available within the Auction Legal Pack.

Viewing

Strictly by appointment through The Auction Company.

Key Features

· Freehold residential investment

· Two self-contained two-bedroom apartments

· Single title deed

· Both apartments currently tenanted

· Immediate rental income

· Approximate gross rental yield of 14%

· Combined accommodation extending to approximately 1,390 sq.ft.

· Popular Stoke-on-Trent rental location

· Excellent investment opportunity

INFORMATION FROM THE AUCTION COMPANY
All marketing material, including property descriptions and imagery, has been provided by the introducing agent.
The Auction Company does not verify this information.
Buyers are advised to arrange an in-person viewing (by appointment only) and satisfy themselves as to the condition and legal position of the property before bidding or making an offer.

METHOD OF SALE
This property is offered for sale by Timed Online Auction (Unconditional).
Bidding takes place online via The Auction Company website.
The bidding end date and time are clearly displayed on the listing.

REGISTRATION TO BID OR MAKE AN OFFER
To bid or submit an offer, buyers must:
- Complete online registration
- Pass identity and AML checks (legal requirement)
- Register valid payment details
- A £1,000 hold/shadow payment will be placed on your card.
- By bidding or making an offer, you confirm acceptance of The Auction Company’s Auction Terms & Conditions, Buyer’s Terms, Legal Pack and Special Conditions of Sale.

AUCTION TYPE - TRADITIONAL METHOD OF AUCTION (UNCONDITIONAL)
All bids and offers are legally binding.
Exchange of contracts takes place immediately upon acceptance.
Completion is required within 28 days, unless stated otherwise in the legal pack.
If you are the successful buyer:
- The £1,000 hold payment will be deducted and credited toward the Buyer’s Premium.
- You must pay:
- The 10% deposit (non-refundable)
- Any remaining Buyer’s Premium balance
- All payments must be made within 2 hours of acceptance.
- All remaining balances must be paid by bank transfer only. No card payments are accepted.
- The Buyer’s Premium is 4% + VAT (minimum £5,000 + VAT) and is non-refundable.

PRE-AUCTION & POST-AUCTION OFFERS
The seller may consider offers made before or after the auction.
For clarity:
- All pre-auction and post-auction offers are treated as auction sales.
- The same auction terms, Buyer’s Premium, deposit requirements and completion timescales apply.

LEGAL PACK
Each property is sold subject to a legal pack, which may be updated at any time before the auction.
Buyers must:
- Download and review the legal pack before bidding or making an offer.
- Take independent legal advice if required.
- Check for updates immediately before bidding.
- By bidding or making an offer, you are deemed to have read and accepted the legal pack in full.

SPECIAL CONDITIONS OF SALE
Special Conditions of Sale are set by the seller and are legally binding.
They are contained within the legal pack and override all general auction terms where applicable.

Council Tax Band

A