Terraced House In Stokes Lane, Barbican, Plymouth

Full description:

This investment opportunity is arranged as three self-contained flats and is located within a prime location within Plymouth's historic Barbican. Flat A offers a spacious one-bedroom ground floor flat with a good-sized living room, kitchen and bathroom. Flats B and C are identical in size and comprise a good size living room, two bedrooms, kitchen and bathroom. Each flat also benefits from double glazing, central heating and externally there is a communal courtyard area. Offered for sale with vacant possession, Plymouth Homes advise an early viewing to avoid missing this rare investment opportunity.

Ground Floor -

Entrance - Entry is via a secure communal entrance from Stokes Lane opening into the communal hallway.

Communal Hallway - With stairs rising to all floors and secure door opening to the rear of the property.

Flat A -

Hall - Radiator, wall mounted entry phone.

Living Room - 4.92m x 2.00m (16'1" x 6'6") - With double glazed window to the rear, coal effect electric fire set in a feature surround, radiator.

Bedroom - 4.92m x 2.62m (16'1" x 8'7") - With two double glazed windows to the front, radiator.

Kitchen - 2.73m x 1.78m (8'11" x 5'10") - Fitted with a matching range of base and eye level units with worktop space above, stainless steel sink unit with single drainer and mixer tap, tiled splashbacks, wall mounted boiler serving the heating system and domestic hot water, spaces for fridge/freezer, washing machine and cooker, double glazed window to the rear, built in storage cupboard, extractor fan.

Bathroom - 2.64m x 1.40m (8'7" x 4'7") - Fitted with a three-piece suite comprising panelled bath with independent electric shower above, pedestal wash hand basin, low-level WC, tiled splashbacks, extractor fan, obscure double-glazed window to the side, radiator.

First Floor -

Communal Landing - Two double glazed windows to the rear, stairs rising to the second-floor landing, door into Flat B.

Flat B -

Hall - With double glazed window to the side, wall mounted entry phone, radiator, built-in storage cupboard.

Living Room - 6.83m x 3.81m (22'4" x 12'5") - With two double glazed windows to the rear, coal effect electric fire set in a feature surround, radiator, built in storage cupboard.

Bedroom 1 - 3.65m x 2.69m (11'11" x 8'9") - With double glazed window to the front, radiator.

Bedroom 2 - 2.92m x 2.71m (9'6" x 8'10") - With double glazed window to the front, radiator.

Kitchen - 2.34m x 1.89m (7'8" x 6'2") - Fitted with a matching base and eye level units with worktop space above, stainless steel sink unit with single drainer and mixer tap, tiled splashbacks, extractor fan, wall mounted boiler serving the heating system and domestic hot water, spaces for fridge, freezer, washing machine and cooker, double glazed window to the rear.

Bathroom - Fitted with a three-piece white suite comprising panelled bath with independent electric shower above, pedestal wash hand basin, low-level WC, tiled splashbacks, extractor fan, double glazed window to the side, radiator.

Second Floor -

Communal Landing - With double glazed window to the rear and door into Flat C.

Flat C -

Hall - With double glazed window to the side, radiator, wall mounted entry phone, built-in storage cupboard.

Living Room - 6.13m x 3.79m (20'1" x 12'5") - With two double glazed windows to the rear, coal effect electric fire set in a feature surround, two radiators, access to the loft space, built in storage cupboard.

Bedroom 1 - 3.61m x 2.74m (11'10" x 8'11") - With double glazed window to the front, radiator.

Bedroom 2 - 2.83m x 2.73m (9'3" x 8'11") - With double glazed window to the front, radiator.

Kitchen - 2.34m x 1.89m (7'8" x 6'2") - Fitted with a matching range of base and eye level units with worktop space above, stainless steel sink unit with single drainer and mixer tap, tiled splashbacks, extractor fan, wall mounted boiler serving heating system and domestic hot water, spaces for fridge/freezer, washing machine and cooker, double glazed window to the rear, radiator.

Bathroom - Fitted with a three-piece white suite comprising panelled bath with independent electric shower over, pedestal wash hand basin, low-level WC, tiled splashbacks, extractor fan, obscure double-glazed window to the side, radiator.

Outside - The rear of the property opens to a communal and enclosed courtyard area but excludes the wooden fenced garden area.

What3words Location - ///photos.gaps.slimy

Best & Final Offers - The seller has asked us to obtain all interested parties best and final offers. In order to assist you we have produced the following guidelines:

Offers can be submitted at anytime but will not be considered until 12:00pm (Midday) on Tuesday 30th May 2023. No offers will be considered after this time.

It will be the sellers decision which offer they wish to accept. They are not obliged to accept the highest offer.

There will be no opportunity to increase on your offer if it is unsuccessful. It is therefore important that you place your best offer for the property at this stage.

This property is being offered for sale on a conditional and non conditional basis. Please state if your offer is for a conditional purchase and that you have read and understand the terms.

Please be aware that this property is currently part of a larger portfolio on a joint title. The title will be split upon completion and transferred in part. This may cause a delay during the conveyancing process. Our client's surveyor has provided the attached plan as an indication of how the title will be split.

The sellers will require evidence of your funding to be placed with your offer. If you are buying without a mortgage we will require copies of bank statements showing that the full funds are available. If you are buying with a mortgage we will require proof of deposit plus a copy of your agreement in principle from your bank or building society. We also require two forms of identification for all purchasers; one form of photo ID (such as a passport or driving licence) plus one form of address ID (such as a utility bill). If you are buying with a mortgage please ensure your lender is aware that this a single freehold property divided into three flats. Some lenders will not lend against this type of property. We are happy to recommend mortgage advisors should you require any independent advice.

We have been instructed not to disclose the sale price to unsuccessful bidders until contracts have been exchanged.

We will inform all parties that have made an offer of the outcome as soon as possible; it may take the seller a week to consider the offers.

Offers can be submitted by email (info@plymouthhomes.co.uk), by post (22 Mannamead Road, Mutley Plain, Plymouth, PL4 7AA) or by telephone (01752 514500-Option 1).

We cannot comment on the likely sale price nor disclose the amount of other offers received, however, if you have any other queries please do not hesitate to ask.

Purchase Options - Our client is proposing a choice of purchase options:

A non-conditional purchase with a guide price of £285,000

A conditional purchase with a guide price of £200,000

Should you wish to purchase on a conditional basis the requirements are as follows:

To ensure the entire property is free from damp and that the individual flats have Energy Performance Certificate (EPC) ratings of a target of 'C' unless otherwise agreed by our client, acting reasonably" of at least a band C. This must be completed within 5 years or at the point of re-sale, whichever is sooner.

If you sell the property within 30 years of purchase, this will trigger an overage clause. This will work as follows: If you sell the property for a sum greater than £120,000 more than you purchased the property for, 50% of this amount will be payable to the seller.

For example, if you paid £200,000 for the property and in the future sold it for £360,000, the property will have increased in value by £160,000. You would be required to pay the seller £20,000 (50% of £40,000-representing the £160,000 gain minus the £120,000 threshold).

Our client is prepared to increase the overage trigger figure of £120,000 upon being provided with evidence of certified work expenditure exceeding £120,000.

Should you require any further details please do not hesitate to contact us