Auction Property 2 Bed Flat 

104 Harts Lane, Barking

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Features

  • Available subject to auction terms and conditions
  • Guide Price - £147,500
  • Purpose built two-bedroom flat
  • Located on 12th floor
  • Current income of £1,000 pcm/ £12,000 pa
  • Close to Barking station
  • Lease of 102 years
  • Approx. 71 Sq M/ 764 Sq Ft

Quick Details

2 Bedrooms

Address

72 Mersea House 104 Harts LaneBarkingLondonIG11 8LP
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Property Details

•Available subject to auction terms and conditions
•Guide Price: £147,500+
•Purpose built two-bedroom flat
•Located on 12th floor
•Current income of £12,000 pa – Gross yield of 8.13%
•Freehold

•Available subject to auction terms and conditions
•Guide Price: £147,500+
•Purpose built two-bedroom flat
•Located on 12th floor
•Current income of £12,000 pa – Gross yield of 8.13%
•Freehold

The property comprises a twelfth floor two bedroom flat situated within a purpose built 16 storey block.

There is a communal entrance on the ground floor with a security door leading to a communal foyer with lift accessing all floors.

The property itself consists of a kitchen, lounge, two double bedrooms and a family bathroom.
Barking station is approximately 1 mile form the property and provides access to central London via the London Overground.

Accommodation

Approx. Gross internal floor area of 71 sq m/ 764 sq ft
(Measurement taken from the EPC)

Investment Analysis

The property is currently let at £1,000 pcm (£12,000 per annum). This reflects a current gross yield of 8.13%, based on the guide price.
However, we do believe that the property is under let and believe the property could rent for £1,200 pcm/ £14,400 pa.

Services

Interested parties should carry out their own investigations.

Tenure

Leasehold -102 years remaining.
Service charge - £2,380 per annum which includes a charge for both with electric and heating.
Ground rent - £10 per annum and a reserve fund of £200 per annum.

Guide Price

£147,500+

Buyer's Premium

2% (min. £3,600) inc. VAT.

Viewings

Please contact a member of John Pye Property on 0115 970 6060 or email [email protected] to arrange an appointment.

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