Flat 4 1 Drake Way, Reading, Berkshire, RG2 0GR
- Conditional Online Auction Sale
- Bedrooms: 2
GOTO ONLINE AUCTIONS OFFER FOR SALE THIS 2 BEDROOM APARTMENT IN BERKSHIRE
Tenure
LEASEHOLD
Description
Key features
Perfect investment or first time purchaseSpacious sitting/dining areaTop floor apartmentFitted kitchenTwo double bedroomsAllocated parking spaceLocated close to local amenities and good transport linksFamily bathroomEnb suite to master bedroomBathroom
Description
This two-bedroom, two-bathroom apartment is located on the top floor of this purpose-built block in the sought-after Kennet Island development. The property offers an extremely spacious lounge area, a fitted kitchen, and two great-sized bedrooms with an en-suite to the main bedroom and a communal bathroom with a shower over the bath. There is allocated parking with the property.
It is heated by a gas-fired central heating system and the property is fully double-glazed.
Kennet Island features a central Plaza with a café and convenience stores as well as is situated close to the Green Park Development, M4 and A33. There are also frequent transport links to the Reading Town Centre & Station, making this apartment appealing for owner occupiers as well as investors. Also within close proximity to the property are supermarkets such as Aldi, Morrisons & Costco which are all within both walking and driving distance.
Communal Areas - Kennet Island features well-kept landscaped communal grounds with a number of park areas with seating for shared use and a series of wetlands and ponds. There is also access to Reading Town Centre via the Kennet Valley path.
Service charge - £1,800
Lease term - 999 years from 1 January 2006
Ground rent - £684
EPC band: C
Material information:
The information above has been provided by the vendor, agent and GOTO Group and may not be accurate. Please refer to the property’s Legal Pack. (You can download this once you have registered your interest against the property). This pack provides material information which will help you make an informed decision before proceeding. It may not yet include everything you need to know so please make sure you do your own due diligence as well.
EPC Rating
CURRENT 79/79 POTENTIAL
Opening Bid and Reserve Price
This Property is subject to an undisclosed Reserve Price which in general will not be 10% more than the Opening Bid. The Reserve Price and Opening Bid can be subject to change. The Online Auction terms and conditions apply.
Comments
This property is offered for sale via Online Auction which is a flexible and buyer friendly method of purchase. The purchaser will not be exchanging contracts on the fall of the virtual hammer, but will be given 56 working days in which to exchange and complete the transaction from the date the Draft Contract is issued by the sellers solicitor.
By giving a buyer time to exchange contracts on the property, normal residential finance can be arranged. The Buyer’s Premium secures the transaction and takes the property off the market. Fees paid to the Auctioneer reserve the property to the buyer during the Reservation Period and are paid in addition to the purchase price and are considered within calculations for Stamp Duty Land Tax. Further clarification on this must be sought from your legal representative.
The buyer will be required to give the Auctioneer authority to sign the Reservation Form on their behalf and to confirm acceptance of the Terms and Conditions prior to solicitors being instructed. Copies of the Reservation Form and all Terms and Conditions can be found in the Information Pack which can be downloaded from our website or requested from our Auctioneer.
Upon close of a successful auction, or if the vendor accepts an offer during the auction, the buyer will be required to make payment of a non-refundable Buyer's Premium of £6,600 including VAT, plus a buyer's administration charge of £372 including VAT, a total of £6,972. This secures the transaction and takes the property off the market. Any additional fees and charges over and above this will be confirmed within the terms and conditions available on the website.
The Buyer's Premium and buyer's administration charge are in addition to the final negotiated selling price.
All buyers will be required to verify their identity and provide proof of how the purchase will be funded.
Buyer's Administration Charge
If the Buyer Information Pack has been produced and provided by GOTO Group any successful purchaser will be required to pay £372 (including VAT) towards the cost of the preparation of the pack. These can then be used by your solicitor to progress the sale.
Buyer Fees
There are no other fees or charges payable to the Auctioneer however, there are other costs to consider such as:
- You will need a Solicitor to act for you during the conveyancing and your Solicitor will advise you in relation to the associated costs. If you do not have a Solicitor, we can recommend the services of one of our Panel Solicitors who are all selected for their expertise in Auction Transactions. Please call the number below for more information.
- Stamp Duty Land Tax (SDLT) is applicable if you buy a property or land over a certain price in England, Wales or Northern Ireland. Please click here for more information.
Energy Performance Certificate (EPCs)
An EPC is broadly like the labels provided with domestic appliances such as refrigerators and washing machines. Its purpose is to record how energy efficient a property is as a building. The certificate will provide a rating of the energy efficiency and carbon emissions of a building from A to G, where A is very efficient, and G is inefficient. The data required to allow the calculation of an EPC includes the age and construction of the building, its insulation and heating method. EPCs are produced using standard methods with standard assumptions about energy usage so that the energy efficiency of one building can easily be compared with another building of the same type. The Energy Performance of Buildings Directive (EPBD) requires that all buildings have an EPC when they are marketed for sale or for let, or when houses are newly built. EPCs are valid for 10 years, or until a newer EPC is prepared. During this period the EPC may be made available to buyers or new tenants.
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