Six Bedroom Student Pod Investment – PART LET PRODUCING A GROSS RENTAL INCOME £23,920 PA

Comprising a fully furnished six-bedroom student pod within a modern four storey purpose-built student accommodation, immediately adjacent to the campus of the University of Central Lancashire (UCLAN). Unit B47 briefly provide six ensuite bedrooms and communal kitchen / lounge situated on the third floor of a four-storey student building. Leighton Hall offers communal areas with a games room and a laundry room. With a reception and on-site security the development is gated and offers parking at a further cost. We are informed that the unit totals approximately 112.02 sq m (1,203 sq ft). We are informed that the rents are set at £115 per week per bed. We understand that the rents are all inclusive (excluding TV licence). We understand that the whole of the property is ‘fractionally owned’ which is a term used to describe an ownership where the costs of an asset is split equally between each owner, meaning that even though each tenant has signed an individual AST agreement the income is divided equally between each owner. Even when the rooms are vacant it means that each owner will receive a split of the rental income. The current occupancy rate across the whole of Leighton Hall is now 85%, which means each fractional owner will get an equal cut per room of this figure. Finance is available on this lot. For a decision-in-principle visit togethermoney.com/amydip/

Tenure

Leasehold. LAN19936

The flat is let to 4 individuals until 20 July 2024 with two vacant flats/bedrooms. Tenancy details as set out below:

Unit ~Tenant ~AST Start Date ~AST Expiry Date A ~Private ~16/06/2023 ~20/07/2024 B ~Vacant C ~Vacant D ~Private ~16/09/2023 ~20/07/2024 E ~Private ~16/09/2023 ~20/07/2024 F ~Private ~16/09/2023 ~ 20/07/2024

Tenure Information

Tenure: Leasehold Title number: LAN19936 Length of Lease/Term: 150 years from 1 January 2005 Ground Rent : TBC Service Charge: TBC Council Tax Band : C - Preston

IMPORTANT INFORMATION

Buying at auction is a contractual commitment, you are legally obliged to buy the lot on the terms of the sale memorandum at the price you bid. If you are the successful bidder, you are required to pay the deposit and auction fees immediately. As agent for the seller, we treat any failure to satisfy your obligations as your repudiation of the contract and the seller may then have a claim against you for breach of contract. You must not bid unless you wish to be bound by the common conditions of auction.

ANTI-MONEY LAUNDERING REGULATIONS

In accordance with Anti-Money Laundering Regulations, two forms of identification and confirmation of the source of funding will be required from the successful purchaser. Every effort has been made to confirm the accuracy of the lot details including any defect in the title both with the vendor and their solicitor. Auction House will not be held responsible for any failure to disclose any such defects. Any purchasers choosing to buy without viewing in person are doing so at their own risk and acknowledge that the auctioneer will not be held responsible for any issues that may arise due to them being unintentionally missed from the video or sales particulars. Please refer to legal pack for additional fees and the Auction Information document for guidance prior to bidding.

Energy Efficiency Rating (EPC)

Current Rating TBC

Local Authority

Preston City Council

Solicitors

Walker Morris LLP, 33 Wellington Street, Ref: Walker Morris LLP, Tel: 0113 457 0300

Offered in association with

Lambert Smith Hampton

Additional Fees

Administration Charge - 1.98% inc VAT of the purchase price, subject to a minimum of £1980 inc VAT, payable on exchange of contracts.

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.