Timed Online Auction

02 December 2021, 10am-3pm

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  • TypeFlat
  • Ownership Freehold
  • Occupation Tenanted
  • Bedrooms 1
  • Council Tax Search SAA

Description

Full Address:  Portfolio of 3 Flats, Hanover Street, Stranraer, DG9 7RS

Portfolio of 3 Tenanted Flats located in the heart of the popular costal town of Stranraer. Ideal Investment opportunity*** Immediate Rental Income of £10,704 - Great return on investment***

Flat A comprises: First Floor flat, Entrance Vestibule, Lounge / Kitchen, Bedroom and Bathroom. Gas Central Heating and new double glazed windows.

Flat B comprises: First Floor Flat, Entrance Vestibule, Open plan Lounge / kitchen with breakfast bar area, Bedroom & Family bathroom. Double Glazing, Gas Central heating & newly carpeted throughout.

Flat C comprises: Attic Floor Flat, Landing area leading to Lounge / Kitchen, Bathroom and Bedroom with built in wardrobe. Newly carpeted and ample storage space throughout.

Stranraer lies on the shores of Loch Ryan, on the northern side of the isthmus joining the Rhins of Galloway to the mainland. Stranraer is Dumfries and Galloway’s second-largest town.

Portfolio of 3 Tenanted Flats located in the heart of the popular costal town of Stranraer. Ideal Investment opportunity*** Combined Rental Income £10,704*** Flat A comprises: First Floor flat, Entrance Vestibule, Lounge / Kitchen, Bedroom and Bathroom. Gas Central Heating and new double glazed windows. Currently tenanted at £282 PCM (£3,384 Per Annum). Low Rent ** Realistic Rental Potential £395PCM (£4,740 Per Annum). Approx. Room Sizes; Entrance Vestibule 1.10m x 1.00m. Lounge/Kitchen 4.50m x 3.90m. Bedroom 3.33m x 3.09m. Bathroom 2.76m x 2.43m. Flat B comprises: First Floor Flat, Entrance Vestibule, Open plan Lounge / kitchen with breakfast bar area, Bedroom & Family bathroom. Double Glazing, Gas Central heating & newly carpeted throughout. Currently tenanted at £285 PCM (£3,420 Per Annum). Low Rent ** Realistic Rental Potential £395PCM (£4,740 Per Annum). Approx. Room Sizes; Entrance Vestibule 1.11m x 1.02m. Lounge 3.81m x 3.38m. Kitchen 2.95m x 2.00m. Bedroom 5.38m x 1.60m. Bathroom 2.85m x 1.87m. Flat C comprises: Attic Floor Flat, Landing area leading to Lounge / Kitchen, Bathroom and Bedroom with built in wardrobe. Newly carpeted and ample storage space throughout. Currently tenanted at £325 PCM (£3,900 Per Annum). Low Rent ** Realistic Rental Potential £395PCM (£4,740 Per Annum). Approx. Room Sizes; Lounge 4.30m x 3.60m. Kitchen 3.50 x 1.75m. Bathroom 2.00m x 1.70m. Bedroom 4.35m x 2.45m. Local Sales Evidence; 11 Hanover Street, Stranraer, DG9 7SB previously SOLD for £66,000*** 4 Hanover Street, Stranraer, DG9 7RZ previously SOLD for £79,000*** 77 Hanover Street, Stranraer previously SOLD for £99,000*** Stranraer lies on the shores of Loch Ryan, on the northern side of the isthmus joining the Rhins of Galloway to the mainland. Stranraer is Dumfries and Galloway’s second-largest town.

Stranraer lies on the shores of Loch Ryan on the northern side of the isthmus joining the Rhins of Galloway to the mainland. Stranraer is Dumfries and Galloway's second largest town with a population including the surrounding area of nearly 13,000. Stranraer is an administrative centre for the West Galloway area of Dumfries and Galloway. The Town was the main ferry port connecting Scotland with Belfast and Larne in Northern Ireland. However, the main industries in the area are the ferry port, with associated industries, tourism and, more traditionally, farming. Stranraer railway station is the southern terminus for one of the branch lines of the Glasgow South Western Line. Trains link to Ayr, Glasgow Central, and Kilmarnock.

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Tenancy Details

Type of Agreement: Basic Lease
Length:
Rent: £10,704 per year / £892 per month
Yield: 11% (approx)
Tenant: Private Individual
Notes:

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Location

Pricing Information & Bidding

Opening Bid: £76,000

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Terms of Sale

  • 10% Deposit
  • Standard Completion
  • Buyers Fee = 2.5% of Sale Price (Minimum £2,500 + vat)

* STANDARD TERMS are 4 week completion with 1 week extension. Sellers can request a varied completion and buyers must satisfy themselves prior to bidding.

Auction Details

Date & Time: 02 December 2021, 10am-3pm
Type: Timed Online Auction

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