Selwood Road, Frome, BA11

For sale by online auction. Thursday 18th July 2024. Bidding to start at 9am and close at 4.30pm. Auction guide price £100,000 to £125,000* A second floor apartment in a period building within the heart of the town's conservation area. Currently let on an AST making it an ideal investment opportunity.

A fantastic opportunity to purchase a charming top floor flat in a period building that has been converted to provide three flats. 23c is currently let on an Assured Shorthold Tenancy and would, therefore, make an ideal investment purchase.

The accommodation comprises a communal entrance hall with stairs rising to the first and second floors. 23c benefits from a landing area which provides a useful spot for coats and shoes. The front door opens into the entrance hall and then doors lead to the sitting room, double bedroom, kitchen and bathroom.

There is also access to a shared rear courtyard garden.

Tenancy

We are selling subject to the existing tenancy agreement which was agreed on the 16th June 2023 up to and including the 15th June 2024 and will now continue on a monthly contractual periodic. The rent paid is £650 pcm.

Tenure

The property is leasehold the terms of which are 125 years granted in November 1988 with an annual ground rent of £10. The remaining term is 89 years. Full details of the lease will be contained within the auction pack.

Completion

Completion has been set for Thursday 15th August 2024 or earlier by arrangement.

Local Council

Somerset

Council Tax Band

A

Services

Mains water, gas, electricity, and drainage is connected to the property. Potential buyers must rely on their own enquiries.

Registering to bid and Administration fee

Cooper and Tanner require all bidders who wish to bid at our Auction to register beforehand, via the Cooper and Tanner website. As part of the registration process, you will be asked to provide card details in order that the Buyer’s Administration Fee of £1350 inc VAT can be paid if you are successful. A week before the auction a hold will be placed on your account for this sum, which will then be released if you are unsuccessful. This fee will only be taken if you are the successful buyer. The fee is retained by Cooper and Tanner and does not form part of your deposit or completion settlement. Please also be aware that the Buyer’s Administration fee is payable per lot purchased. If you are successful in purchasing more than one lot, we will contact you following the auction to take subsequent payments for additional lots bought. All checks required by current anti-money laundering legislation must be satisfactorily completed, as part of the registration process before prior approval to bid will be granted; this will include providing proof of funds.

Deposit

Successful bidders will be required to pay to the Cooper and Tanner Client Account the deposit of 10% of the purchase price within 24 hours of the auction. The account details will be provided to the successful bidder on conclusion of the auction. Once funds are cleared, they will be transferred on to the account of the solicitor acting for the seller. Please ensure that funds are in an account suitable to be able to make an Electronic Transfer from.

VAT

The purchase price is not subject to VAT

Viewing

By appointment through Cooper and Tanner on 01373 455060

Solicitors

FSM Solicitors, Trowbridge

Helen Harris acting. Tel 01225 755621