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Unconditional (Buyer's Premium)
UNCONDITIONAL LOT Buyers Premium Applies Upon the fall of the hammer, the Purchaser shall pay a 5% deposit and a 2.5%+VAT (subject to a minimum of £10,000+VAT) buyers premium and contracts are exchanged. The purchaser is legally bound to buy and the vendor is legally bound to sell the Property/Lot. The auction conditions require a full legal completion 28 days following the auction (unless otherwise stated).
133 Old Oak Common Lane, London, W3 7DN
FOR SALE BY ONLINE PUBLIC AUCTION 9 BEDROOM HMO IN PRIME LOCATION EXCELLENT INVESTMENT OPPORTUNITY - APPROX 20% BMV APPROX 7% NET YIELD
FOR SALE BY ONLINE PUBLIC AUCTION 9 BEDROOM HMO IN PRIME LOCATION EXCELLENT INVESTMENT OPPORTUNITY - APPROX 20% BMV APPROX 7% NET YIELD
Description
An opportunity not to be missed for all property investors seeking a premium HMO in the desirable location of Old Oak Common, London.
The property has an OMV of £1,700,000 and is offered for sale at a significant discount to attract investors seeking a high rental yield from a "hands off" fully managed turnkey property.
A valuation report is included within the legal pack. Prospective purchasers are referred to the legal pack for further information and additional photographs of the property.
Guide Price of £1,300,000
• RICS valuation at £1.7M
• Currently tenanted with annual rent of £99,840
• Gross Yield of 8%
• 9 Bedroom HMO
• Freehold
Tenancy
• Room 1 Rent: £1000
• Room 2 Rent: £1000
• Room 3 Rent: £1000
• Room 4 Rent: £1000
• Room 5 Rent: £865
• Room 6 Rent: £825
• Room 7 Rent: £800
• Room 8 Rent: £850
• Room 9 Rent: £980
• Total Annual Rent: £99,840
Bills
• Utilities: £200
• Council Tax: £266
• Broadband: £45
• Water: £200
• Total Annual Bills: £8,532
• Net Yield (%): 7%
Article 4
• Located Outside Article 4 Area
• HMO Licence in Place
Location
The Property is located in East Acton in west London, in the London Borough of Ealing and within the W3 postal code district. East Acton is a predominantly residential area situated to the west of Wormwood Scrubs. To the north is North Acton and Park Royal, to the south is White City and to the west is West Acton.
East Acton Station is served by the Central Line and is within a 5 minute walk of the Property. Acton Main Line is now served by the Elizabeth Line and is less than a mile to the west of the subject. Several buses pass along nearby Du Cane Road and the A40 Westway. The A40 provides excellent connections by car to central London and to the national motorway network.
Local amenities, such as an Iceland supermarket and a Post Office to the south on Old Oak Common Lane, close to the junctions with the A40 Westway. A short distance to the west of the subject is HMP Wormwood Scrubs, as well as Hammersmith Hospital.
Situation
The Property is situated within the Old Oak Estate which was developed between 1912 and 1928 in the Arts & Crafts style. Old Oak Common Lane runs in a northerly direction from the A40 Westway until it meets Old Oak Lane to the north, close to the Paddington Branch of the Grand Union Canal. Number 133 is situated to the north western corner of a garden square that is formed either side of Old Oak Common Lane. The square is formed of two storey houses. The immediate area is residential and made up of a range of houses and flats.
Description
The Property comprises a mid-terrace corner house which is arrange over ground, first and second floors, with the uppermost floor being situated within the roof space. The building has been extended and refurbished in recent years to provide 9 x studios with en-suites, together with a shared kitchen and separate WC. There is also a garden that all of the residents can access, as well as a detached garden room/lounge.
Viewings
Viewings available to serious prospective purchasers who can demonstrate that they are in a position to purchase under auction terms.
The vendor will consider sensible pre auction offers above the guide price, subject to the purchase proceeding on auction terms.
Tenure
Freehold
Buyers Premium
2.5%
Pre Auction Offers Are Considered
The seller of this property may consider a pre-auction offer prior to the auction date. All auction conditions will remain the same for pre-auction offers which include but are not limited to, the special auction conditions which can be viewed within the legal pack, the Buyer’s Premium, and the deposit. To make a pre-auction offer we will require two forms of ID, proof of your ability to purchase the property and complete our auction registration processes online. To find out more information or to make a pre-auction offer please contact us.
Special Conditions
Any additional costs will be listed in the Special Conditions within the legal pack and these costs will be payable on completion. The legal pack is available to download free of charge under the ‘LEGAL DOCUMENTS’. Any stamp duty and/or government taxes are not included within the Special Conditions within the legal pack and all potential buyers must make their own investigations.
Key Feature 1
FOR SALE BY ONLINE PUBLIC AUCTION
Key Feature 2
EXCELLENT INVESTMENT OPPORTUNITY - OFFERED APPROX 20% BMV
Key Feature 3
GROSS RENTAL YIELD OF APPROX 8%
* The Guide Price given is an indication as to where the Reserve is currently set. The Reserve is the minimum price that the auctioneer is authorised by the vendor to sell the property for. It is subject to change throughout the marketing period. Where the Guide Price is a single figure, the current Reserve will not be more than 10% above that single figure, and where a price range is given (i.e. £50,000 - £55,000), the Reserve will not exceed the upper level of the range. It is not necessarily what the auctioneer expects it will sell for.
We would like to point out that all measurements, floor plans and photographs are for guidance purposes only (photographs may be taken with a wide angled/zoom lens), and dimensions, shapes and precise locations may differ to those set out in these sales particulars which are approximate and intended for guidance purposes only.
These particulars, whilst believed to be accurate are set out as a general outline only for guidance and do not constitute any part of an offer or contract. Intending purchasers should not rely on them as statements of representation of fact, but must satisfy themselves by inspection or otherwise as to their accuracy. No person in this firms' employment has the authority to make or give any representation or warranty in respect of the property.
Viewing: Due to the nature and condition of auction properties, the auctioneers highlight the potential risk that viewing such property carries and advise all to proceed with caution and take necessary requirements to ensure their own safety whist viewing any lots offered. Viewings are conducted entirely at the potential buyers own risk, these properties are not owned or controlled by Town & Country Property Auctions and the auctioneers will not be held liable for loss or injury caused while viewing or accessing the lot. Due to the nature of some auction properties, electricity may not be turned on, therefore viewing times are restricted. Viewers will need to bring their own lighting/ ladders if wanting to inspect cupboards, cellars and roof spaces. Some viewings are carried out by third party agents and we will endeavour to give appropriate notice should the published viewing time change. Town & Country Property Auctions will not be liable for any costs or losses incurred due to viewing cancellations or no shows.
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- THREE BEDROOMS
- POPULAR RESIDENTIAL LOCATION
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- GENEROUS PLOT
- PARKING FOR AMPLE VEHICLES
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- EXCELLENT INVESTMENT OPPORTUNITY
- NEW 999 YEAR LEASE WITH SHARE OF FREEHOLD
Buy It Now - Available Until:
Superb detached family home, exceeding over 2,000 Sq ft situated within a desirable residential location
- Bidding via committed offer is simple
- Bid for free - No bidders security deposit needed, just register for auction passport
- Online bidding process runs to advertised end date
- If you are highest bidder at the end of the bidding process one of the TCPA / Auctionline team will contact you to proceed with the sale under relevant legal process. A reservation fee and deposit may be required at this stage. please contact relevant team or refer to terms and conditions
- All interested bidders are assumed to have carried out due diligence and checks prior to bidding on the lot
- Buyers are advised to refer to individual terms and conditons, relevant legal pack and are not to rely on details or videos provided by the agent as statement of fact on the basis on proceeding with a sale
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