Kings Avenue, Chichester, West Sussex

A fantastic investment opportunity to acquire a substantial detached property, formerly run as a bed and breakfast and now arranged as four self-contained one-bedroom flats. Offered with vacant possession and no onward chain, the property provides a projected gross yield of approximately 8.5%-10% per annum. Externally, there are gardens to the front and rear, with an additional garden area available under licence from Chichester District Council. This property is for sale by the modern method of auction. Should you view, offer or bid on the property, your information will be shared with the Auctioneer, Iamsold. Subject to a undisclosed reserve price, buyers fee applies.

AUCTIONEER'S COMMENTS

This property is for sale by the Modern Method of Auction - powered by iamsold Ltd. Should you view, offer or bid on the property, your information will be shared with the Auctioneer, iamsold.

This method of auction requires both parties to complete the transaction within 56 days of the draft contract for sale being received by the buyers solicitor. This additional time allows buyers to proceed with mortgage finance (subject to lending criteria, affordability and survey).

The buyer is required to sign a reservation agreement and make payment of a non-refundable Reservation Fee, this being 4.5% of the purchase price including VAT, subject to a minimum of £6,000.00 including VAT. The Reservation Fee is paid in addition to purchase price and will be considered as part of the chargeable consideration for the property in the calculation for stamp duty liability.

Buyers will be required to go through an identification verification process with iamsold and provide proof of how the purchase would be funded.

This property has a Buyer Information Pack which is a collection of documents in relation to the property. The documents may not tell you everything you need to know about the property, so you are required to complete your own due diligence before bidding. A sample copy of the Reservation Agreement and terms and conditions are also contained within this pack.

The buyer will also make payment of £349.00 including VAT towards the preparation cost of the pack, where it has been provided by iamsold.

The property is subject to an undisclosed Reserve Price with both the Reserve Price and Starting Bid being subject to change.

REFERRAL ARRANGEMENTS

Cubitt & West and Auctioneer may recommend the services of third parties to you. Whilst these services are recommended as it is believed they will be of benefit; you are under no obligation to use any of these services and you should always consider your options before services are accepted.

Where services are accepted the Auctioneer or Cubitt & West may receive payment for the recommendation and you will be informed of any referral arrangement and payment prior to any services being taken by you.

TO VIEW OR MAKE A BID - Contact Cubitt & West