3 Bedroom Flat & Shop, 5 & 7 Napier Road, Swalwell, Newcastle upon Tyne, NE16 3BS (Sold as one)
Overview
Hammer Price Homes are pleased to present for sale by online auction this unique opportunity to purchase a large mid terraced property that consist of a ground floor shop and a separate 3 bedroom flat.
The shop consists of its own entrance and has a shop front room, stock room, store room and a wash room with W.C. The flat, which is access via its own street level entrance, is split over the first and second floor and consists of a living room, kitchen, bathroom and 3 bedrooms.
Outside there is a garden to the rear and a garage, which provides an option for off street parking.
The property offers potential for investors to reconfigure subject of course to gaining the necessary planning and consent. Any planning approval should be sought post completion.
Due to the set-up of the property, we feel it may be difficult to obtain lending on the purchase through a standard mortgage so recommend this auction for cash buyers only. You will not be able to withdraw from the sale with a return of the reservation fee citing issues around securing lending on the property or for reasons around the condition. The property is sold as seen.
To view this property please visit the Hammer Price Homes website, register as a buyer and book your place on an open day.
Location
The property is located within walking distance to a number of amenities and is just half a mile from the very popular Metrocentre offering a host of shopping and eating facilities. It is also just a 10 minutes’ drive to Newcastle City Centre which provides access to a more extensive range of amenities and things to do.
Special Conditions
Due to the set-up of the property, we feel it would be difficult to obtain lending on the purchase through a standard mortgage so recommend this auction for cash buyers only. You will not be able to withdraw from the sale with a return of the reservation fee citing issues around securing lending on the property or for reasons around the condition. The property is sold as seen.
Other Information
Tenure – Freehold – See land registry documents which are available for download from the hammer price homes website.
Searches – Searches are available for download from the Hammer Price Homes website
Auction Details
** Open to cash buyers only. 90 days to complete**
Please note that there is a Reservation fee (2.4% Inc. VAT) subject to a minimum of £3,000 Inc. VAT) payable by the buyer on winning the auction. The reservation fee does not constitute part of the sale price, this is the auctioneer’s fee and is to be paid over & above the sale price paid to the Vendor.
Auction ends – Thursday 16th September 2021 at 1pm
Bidding Window Opens – Tuesday 14th September 2021 (Bidding will not be possible until this time)
Starting price – £40,000 (Reserve price is higher & unpublished, typically the starting price will be 15 – 20% below the Reserve figure as per our Buyer Terms)
Viewings
We will continue to keep abreast of Government guidelines re Covid-19. This property is vacant which means we should comfortably be able to conduct viewings whereby safe distancing is adhered to. We allow a maximum of 2 bookings per 15 minute time slot. Viewers must to stick to their time precisely.
Please try and maintain a safe distance if you are in the property at the same time as another viewer who is not from your household.
The wearing of face masks whilst currently not mandatory is advisable.
How to make an offer
Offers can only be made via the online auction in the form of a bid once the bidding window has opened. No offers will be accepted outside of the auction process.
Once a sale has been agreed (STC) and a price agreed then no further price negotiation will take place. This sale price is fixed at the winning auction price and the buyer honoured to pay it. Any subsequent attempt by the buyer to contact the vendor direct to renegotiate on price would hold the buyer in breach of our terms. Should the buyer withdraw then they may have to forfeit the reservation fee. Please read the buyer terms and FAQ’s on the site for more details.
The property and is sold as seen. The vendors / solicitor may not be able to answer the usual pre-contract questions
