£14,000 /Sale price

Sold in auction by Under the Hammer. If you would like your property to be sold in our next auction please contact our sales team on .A leasehold investment studio apartment, located in the city centre of Sunderland with a 30% yieldThe property comprises a open plan studio room with kitchenette and living space, together with a separate shower room.This property also has a communal Cafe, Gym and cinema room within the buildingThe property is currently rented for £450 pcm Situated within Horizon House on Borough Road, the apartment offers a convenient city-centre location close to local shops, restaurants, and transport links.Since the preparation of the original marketing details, we have been advised that the property is currently considered uninhabitable.Although the property is currently recorded as tenanted, buyers should note that the condition of the property may impact the ongoing tenancy, rental income, and/or legal compliance. Under The Hammer has not verified the current occupation status or the tenant’s continued ability to lawfully occupy the property in its present condition.Prospective purchasers must rely solely on their own enquiries and the legal pack, and are strongly advised to seek independent legal and professional advice prior to bidding. The property is sold as seen, and the successful purchaser will assume full responsibility for any remedial works, compliance requirements, and tenancy matters following completion.Lease length: 250 years from 6 February 2020Service charge: £2,080 per annum (approx)Ground rent: £150 per annum (approx)Here's what to do nextVisit - Our website and view the auction terms.View - Book a viewing directly through our website.Register - Get registered prior to the auction opening date.Legal Pack - Download and view the legal pack to find out all the relevant information.Prior Auction Offer - Want it now? Submit a prior auction offer through our website. All offer's go direct to the seller.Bidding - Everything is completed online through the website and the intuitive bidding controls.If you would like your property to go into our next auction then contact our auction experts on or submit a valuation on our website