2 bed flat for sale

Electric Wharf, Coventry CV1

Being Sold via Secure Sale online bidding. Terms & Conditions apply. Starting Bid £135,000.

This property will be legally prepared enabling any interested buyer to secure the property immediately once their bid/offer has been accepted. Ultimately a transparent process which provides speed, security and certainty for all parties.

Attention investors & First time buyers! A fantastic opportunity to purchase an architecturally unique apartment, a short walk from Coventry city centre with a potential yield of over 8%!

Set in the historic electric wharf 'Boiler house' building next to the Coventry canal, this first floor apartment is a fantastic example of industrial style architecture, with exposed brick walls, floor to ceiling windows and exposed structural beams.

The property is accessed via a communal secure intercom entrance and has a life and stairs up to the first floor, where the apartment is situated.

Internally, there is a bathroom with walk-in shower, two bedrooms with feature beams and floor to ceiling double glazed windows and an impressive open plan modern kitchen / lounge / dining area with high ceilings and exposed structural features.

The apartment benefits from underfloor heating, allocated parking and an additional storage room (accessed via a loft style hatch in the ceiling) where the water tank and boiler is housed.

Lease details

Length: 228 Years

Service charges: £2302 P/A

Ground rent: £200 P/A

Management Company: Centrick

Auctioneers Additional Comments

Pattinson Auction are working in Partnership with Oughton Cook Estate Agents on this online auction sale and are referred to below as 'The Auctioneer'.

This auction lot is being sold either under conditional (Modern) or unconditional (Traditional) auction terms and overseen by the auctioneer in partnership with the marketing agent. The property is available to be viewed strictly by appointment only via the Marketing Agent or The Auctioneer. Bids can be made via the Marketing Agents or via The Auctioneers website.

Please be aware that any enquiry, bid or viewing of the subject property will require your details being shared between both any marketing agent and The Auctioneer in order that all matters can be dealt with effectively.

The property is being sold via a transparent online auction.

In order to submit a bid upon any property being marketed by The Auctioneer, all bidders/buyers will be required to adhere to a verification of identity process in accordance with Anti Money Laundering procedures. Bids can be submitted at any time and from anywhere.

Our verification process is in place to ensure that aml procedure are carried out in accordance with the law.

The advertised price is commonly referred to as a ‘Starting Bid’ or ‘Guide Price’ and is accompanied by a ‘Reserve Price’. The ‘Reserve Price’ is confidential to the seller and the auctioneer and will typically be within a range above or below 10% of the ‘Guide Price’ / ‘Starting Bid’.

These prices are subject to change.

An auction can be closed at any time with the auctioneer permitting for the property (the lot) to be sold prior to the end of the auction.

A Legal Pack associated with this particular property is available to view upon request and contains details relevant to the legal documentation enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers’ obligations and sellers’ commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase. Auctioneers Additional Comments

In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit equivalent to 5% of the purchase price of the property. The deposit will be a contribution to the purchase price. A non-refundable reservation fee of up to 6% inc VAT (subject to a minimum of 6,000 inc VAT) is also required to be paid upon agreement of sale. The Reservation Fee is in addition to the agreed purchase price and consideration should be made by the purchaser in relation to any Stamp Duty Land Tax liability associated with overall purchase costs. Both the Marketing Agent and The Auctioneer may believe necessary or beneficial to the customer to pass their details to third party service suppliers, from which a referral fee may be obtained. Ther