A one-bedroom retirement flat in Colwyn Bay is being offered at a guide price of £40,000, with a tenant already in place.
The second-floor flat in the Rhoslan Park building is being auctioned via an online auction, coordinated by Elwy estate agency and Pattinson Auction.
Elwy describes the house as “well-presented” and makes it open to buyers over the age of 55.
It is now rented to a long-term tenant, with a reported monthly income of £480 each calendar month, according to the agency, representing a “excellent return on investment”.
According to the description, the unit includes a lounge and dining space with a box bay window, a modern fitted kitchen with integrated equipment, a double bedroom with built-in cupboards, and a bathroom with a three-piece suite, featuring a shower above the bathtub.
The entrance hallway has a huge storage cupboard that houses the hot water cylinder and utility meter.
The property features uPVC double glazing and storage heaters.
Residents have access to a secure community entrance that leads to all floors by lift or stairs.
A lounge, washing room, and gardens are among the communal features.
The estate agent mentions that the community area is utilized for coffee mornings and bingo, and that a site manager is there with 24-hour emergency pull cord help.
Outside, shared gardens are characterized as “beautifully maintained,” and residents have access to a private car park, with the option of reserving a space for a yearly charge.
The property is just a short walk from Colwyn Bay’s amenities and promenade.
The property is being sold leasehold, with a 125-year lease beginning June 24th, 1993.
The ground rent is indicated as £356.01 for six months, while the service charge is £1,400.67.
According to the representative, the service charge includes building insurance, water rates, lift maintenance, community heating, window cleaning, and grounds upkeep.
The online auction is conducted under both conditional (Modern) and unconditional (Traditional) auction terms.
Interested parties must register and undergo identity verification in accordance with anti-money laundering procedures.
A legal pack is available for individuals who want to peruse documentation before bidding, and viewings are possible by appointment with the agent or auctioneer.
A non-refundable deposit of 5% of the purchase price is required at contract exchange, as well as a reservation fee.
The agent recommends that buyers speak with a legal before proceeding.
The property’s energy performance certificate rating has yet to be validated.
Council tax is classified as Band B.
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