For sale by Unconditional Online Auction.
A stunning, one bedroom apartment in a popular apartment block in Salford, currently let producing £11,580 per annum. Please note that the tenants are due to vacate the property by the 22nd of August 2022 and prospective buyers should seek further information within the legal documents prior to bidding.
This beautiful one bedroom apartment is located in one of Salford’s most prestigious apartment blocks offering sizeable accommodation throughout, a secure underground parking space and a private terrace. The building offers a 24 hour concierge, a communal roof garden and lift services to all floors. The property is ideally placed for access to Manchester City Centre with the popular area of Spinningfields within walking distance. All necessary amenities and services can found nearby and there are excellent transport links surrounding the property including Salford Central Train Station, just a short walk away.
The vendor has advised that The Edge building has recently had its cladding replaced and an EWS1 form with a B1 fire and safety rating has now been issued. The remedial works have increased the value of the property by £25,000-£30,000 according to third party surveyors. We have included a copy of the EWS1 form here for your discretion. Prospective buyers are advised to make a viewing enquiry and any other necessary independent enquiries before placing their bid, as this will be binding.
The vendor has also advised the property benefits from a secure underground parking spot.
Living Room/Kitchen 7.66 x 3.01m (25ft 1 x 9ft 10)
Bedroom 4.84 x 3.52m (15ft 10 x 11ft 6)
Outside Private roof terrace. Communal roof gardens. Gated underground car parking space
Leasehold Length of lease: 250 years (less 1 day) from 1 January 2002
Current ground rent: TBC
Ground rent review period: TBC
Current service charge: £2812.80 p.a
Service charge review period: TBC
This information should be clarified in the legal pack and we’ll update the information above when we receive it.
Note: Please be advised that the auctioneers have not personally inspected the property and the photographs supplied were taken prior to the current tenancy. Prospective buyers are advised to make a viewing enquiry and any other necessary independent enquiries before placing their bid, as this will be binding.
Note: The vendor is willing to sell the property fully furnished, the price of the furnishings will be negotiable prior to completion.
Inventory and RRP supplied by the vendor:
Vintage Charles Eames Dining Table (£268 RRP)
La Redoute Walnut King Size Bed & Mattress (£425 RRP)
4 x Smoked Oak Dining Room Chairs (£783 RRP)
Vintage Leather Armchair
Habitat Sofa (as seen on Dr Who TV Series!) (£190 RRP)
Black Ash Sitting Room Side Table (£432 RRP)
Rust Red Metallic Side Table (£180 RRP)
Beedell Coram Vintage Oak Chest of Draws (£295 RRP)
EPC Rating: C
The auction for this property will be conducted online through our online-bidding platform. This is a “Timed Auction”, so there are no other lots being sold alongside this property.
The timeslot for the auction is displayed on SDL Property Auctions’ website. To view this, search for the property on their website. Then click onto the property to view the property details. The time remaining to bid and end date of the auction is displayed on the page.
You are required to undertake identity checks before you can be authorised to bid. You must also provide your payment details. If you do not provide this information, your registration will not be processed.
When you place your bid, you are deemed to have agreed to SDL Property Auctions’ Buyers Terms (England & Wales) which are available on SDL Property Auctions website.
Auction type- Unconditional with Variable Fee:
If you are the highest bidder, you must exchange legally binding contracts for the sale when the auction for the property comes to an end. You must then pay the applicable fees and deposit. You must complete the sale within 15 business days unless the Special Conditions of Sale contained within the Legal Pack state otherwise.
The following non-refundable fees apply:
Buyer’s Fee- payable on exchange of contracts. This is calculated as a percentage of the actual purchase price of the property. Either:
(a) 4.8% (including VAT) of the purchase price, for properties up to and including £250,000
(b) 3.6% (including VAT) of the purchase price for properties sold for over £250,000
The Buyer’s Fee is subject always to a minimum of £6,000 (including VAT). The Buyer’s Fee does not contribute to the purchase price and will be considered as part of the chargeable consideration for the property in the calculation of stamp duty liability.
On exchange of contracts, you must pay a non-refundable deposit equal to 5% of the actual purchase price of the property, subject to a minimum of £5,000. The deposit contributes towards the purchase price.
When you register to bid, you will be prompted to provide your payment details to SDL Property Auctions. In the event that you are the winning bidder, your card will automatically be charged a proportion of the Buyer’s Fee & Deposit. The payment will be calculated based on the guide price of the property, in line with the fee scale described above. Where the actual purchase price is higher than the guide price, you will be required to pay the difference immediately after the end of the auction, which can be paid by debit card or bank transfer. Payment by cash or cheque will not be accepted.
Example: You win the bid on a property with a guide price of £150,000, but the actual purchase price is £170,000. At this point your bid is successful you will be charged as follows:
Buyer’s Fee of £7,200- 4.8% of guide price
Deposit of £7,500- 5% of the guide price
As the actual purchase price amounted to £170,000, after the auction, you will be required to pay the following additional amounts on top of the initial payment:
£960 for Buyer’s Fee shortfall (£8160 due as 4.8% of actual purchase price)
£1,000 for Deposit shortfall (£8500 due as 5% of actual purchase price)
Before bidding, you must view the legal pack for the property. This is the collection of legal documents that apply to the sale. The documents will include but are not limited to: Special Conditions of Sale, title documents from the Land Registry and Energy Performance Certificate.
To view the legal pack, first search for the property on SDL Property Auctions’ website and click onto the property to view the property details. There will be a sub-heading “Legal Documents”. Underneath this, you will be prompted to “Log in to view the legal documents”. Follow this link, you will then be directed to create an account with Auction Passport to view the documents.
The legal pack can change at any time up until the auction starts so you must check for the most recent version of the legal pack. At the point of placing your bid, you are deemed to have read the legal pack in its entirety, including any changes. Failure to check for changes to the legal pack will not be a valid reason for withdrawing from the sale.
It is strongly recommended that you instruct a qualified professional to review the legal pack and raise any necessary enquiries before bidding.
Special Conditions of Sale:
The property is sold subject to any Special Conditions of Sale. These are contractual conditions that are included by the seller of the property - they are not part of SDL Property Auctions’ terms and conditions. The Special Conditions of Sale are legally binding. You are taken to have read and accepted these at the point of bidding, even if you have not done so. The Special Conditions of Sale are available to read in the legal pack.
To register to bid on the property, search for the lot on SDL Property Auctions website. Click onto the property, follow the link to “Log in/register to bid” , and you will then be directed to create an account with the online-bidding platform provider, EIG.
By setting a proxy bid, the system will automatically bid on your behalf to maintain your position as the highest bidder, up to your proxy bid amount. If you are outbid, you will be notified via email so you can opt to increase your bid if you so choose.
If two of more users place identical bids, the bid that was placed first takes precedence, and this includes proxy bids.
Another bidder placed an automatic proxy bid greater or equal to the bid you have just placed. You will need to bid again to stand a chance of winning.