Residential investment opportunity comprising two attractive buildings, both converted into 5 flats each. For modernisation with potential income of about £75,000pa. About 0.34 acre.
FOR SALE BY AUCTION
THURSDAY 9th MAY 2019 at BATH RACECOURSE, BATH
GUIDE PRICE £415,000+
Situation and Description
This residential investment opportunity is situated just off the town centre away from busy roads in the heart of this Wiltshire town. Melksham is an expanding town with a wide range of shops, leisure facilities, junior and senior schools and employment opportunities. There is a railway station and good road access to Bath, Trowbridge and Chippenham.
Canon Square is arguably one of the most sought after locations in Melksham with a range of older cottages and large period houses, these properties are situated off a lane which only serves a couple of houses and provides access to the cemetery. St Michaels Court is at the end of the lane and the only passing traffic is by foot into Melksham House grounds.
The barn to the rear was originally a tithe barn believed to have been built in the 15th century. This was converted to a school in 1891 and the newer building was constructed at this point. Only the barn is Grade II listed but both properties fall within a conservation area.
Both buildings have been sub-divided into 5 flats each. All of The Old School House flats have their own private entrance and have night storage heating. There is a useful store attached to the building. The Barn provides one flat with its own entrance with the remaining 4 accessed via a communal entrance.
There is tarmac parking area providing ample parking and there is also a garden area. The property is enclosed mainly by high stone walling. The extent of the property is shown edged red for identification purposes only on the aerial photograph and measuring about 0.34 acre.
The flats which are in need of modernisation would be ideal for investment with a potential income in good condition of between about £525pcm for the studio flats to £750pcm for the 2 bedroom flat. In total this could give a potential rental income in the region of £75,000 per annum.
The Old School House
Flat 1 comprising Entrance Hall, Sitting Room, Kitchen, Bedroom and Bathroom.
Flat 2 comprising Entrance Hall, Bedroom/Living Room, Kitchen and Bathroom.
Flat 3 comprising Entrance Hall, Sitting Room, Kitchen, Bedroom and Bathroom.
Flat 4 comprising Entrance Hall, Sitting Room, Kitchen, 2 Bedrooms and Bathroom.
Flat 5 comprising Entrance Hall, Sitting Room, Kitchen, Bedroom and Bathroom.
The Old Barn
Flat 6 comprising Entrance Hall, Sitting Room, Kitchen, Bedroom and Bathroom.
Flat 7 comprising Entrance Hall, Bedroom/Living Room, Kitchen and Bathroom.
Flat 8 comprising Entrance Hall, Sitting Room, Kitchen, Bedroom and Bathroom.
Flat 9 comprising Entrance Hall, Sitting Room, Kitchen, Bedroom and Bathroom.
Flat 10 comprising Entrance Hall, Sitting Room, Kitchen, Bedroom and Bathroom.
From the Market Place, proceed along the High Street turn left into Church Street and continue into Canon Square. Take the far left turning towards the Church and continue until St Michael's Court is reached at the end.
To arrange a viewing please contact our Corsham Office on 01249 712039.
You can download the legal packs via our website www.strakers.co.uk and going to the auction home page by using the services heading at the top of the page. Click on the light blue tab under the next auction date displayed on the calendar. This will produce a lot list, select a lot of interest, this pulls up further details on the property - on the right under the photos click View Legal Documents - You will need to sign-up by entering your email address and creating a password the first time but this will stay valid for all of our future auctions. The legal pack may not be available straight away, but as long as you have registered to receive it you will be notified as soon as it is available.
Reserve and Guide Price
Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
Proxy & Telephone Bid
If you cannot attend the auction (although we strongly advise you do) you may make a TELEPHONE or PROXY BID. This authorises the auctioneer to bid on your behalf up to a pre-set limit. Forms and relevant conditions are available from the Auctioneers' offices. A completed form and two cheques (one for the 10% deposit (minimum £3,000) and one for the Buyer's Administration Fee of £600 including VAT on Lots sold for less than £99,999 or £1,200 including VAT on Lots sold for £100,000 and above) are required by the Auction Department at least two full working days before the auction. Please telephone the AUCTION OFFICE (01249) 765200 to arrange these.
These particulars, whilst believed to be accurate are set out as a general outline only for guidance and do not constitute any part of an offer or contract. Intending purchasers should not rely on them as statements of representation of fact, but must satisfy themselves by inspection or otherwise as to their accuracy. No person in this firms employment has the authority to make or give any representation or warranty in respect of the property. All measurements and distances are approximate only. Your home is at risk if you do not keep up repayments on a mortgage or other loan secured on it.
6 High Street Corsham Wiltshire SN13 0HB