£70,000 /Sale price

Property DescriptionTo be sold by online auction (unconditional) on Wednesday 17th December 2025 with a 6 WEEK COMPLETION, bidding will open at 10.00.Property DetailsA vacant top floor studio apartment, located in a popular residential area close to the town centre, Reading University and Royal Berkshire Hospital. Estimated monthly rental in the region of £750pcm, equivalent to a 12% gross yield per annum. Cash buyers only.Registration All bidders/potential buyers are required to register ahead of the auction date to be able to bid/buy, please visit our website to setup an online auction account.Tenure Leasehold with vacant possession Lease 125 years from 1 January 2008 - 107 years remaining. Ground rent and service charge Please see legal pack for further details.Legal pack For each lot there are Special Conditions of Sale and other documentation provided by the vendor's solicitors. If you wish to receive the Legal Pack, you will be able to register for this via the link on our website. You will receive notification by email once the Legal Pack is received from the solicitor. The documents may not tell you everything you need to know about the property and you are required to complete your own due diligence before bidding.Additional fees A buyers charge of £1,500 including VAT is payable on each lot that you buy, in addition to the sale price. Please be aware there may be other additional fees, including disbursements contained in the legal pack payable on completion. Please ensure that you check the legal pack for each lot that you are interested in, prior to bidding.Deposit If you are the highest bidder when the auction ends, contracts are exchanged between you and the seller. Both parties are legally bound to complete the transaction as per the special conditions in the legal pack. Your card will be automatically debited for the bidder security amount of £6,000 and we'll require the remaining balance for a 10% non-refundable deposit. We will contact you after the auction has finished to make these arrangements.Pre-auction offers These must be made in writing and will only be considered if the Legal Pack has been inspected and proof of funding has been supplied to the auctioneers. Pre-auction offers are only considered on an auction basis in accordance with the "Terms & Conditions - Unconditional Auction.Mortgage finance We advise all bidders who require a mortgage to confirm with their Financial Advisor as to whether or not the lot you are interested in would be suitable security to borrow finance against, prior to bidding. If you need to arrange a mortgage it is important that you obtain an offer from your lender before the day of the auction. Most building societies and banks will instruct a surveyor to prepare a valuation report before making a mortgage offer.