Commercial Street, Norton, Malton, North Yorkshire

Modern Method of Auction / 5-Bedroom town centre maisonette licensed house of multiple occupancy / Rental investment opportunity / Portfolio landlords

This property is for sale by Modern Method of Auction, allowing the buyer and seller to complete within a 56 Day Reservation Period.

Interested parties’ personal data will be shared with the Auctioneer (iamsold Ltd). Please see additional information before requesting a viewing or bidding.

61a Commercial Street, Norton town centre, a maisonette that has been improved over recent years and is registered as a house of multiple occupation (HMO) with Ryedale District Council.

The property was completed to all necessary building regulations at the time of conversion.

The property is double-glazed and heating is provided by Rionte electric panel heaters fitted by the current vendors in 2022.

The property is licensed for occupation by up to 5 people and is currently at 100% occupancy, and achieves a yearly rental income of £26,780 (assuming no void periods). As a HMO landlord you will be liable to pay the council tax, insurance and water and electricity for the property, so please ensure you take this into account.

Each of the five bedrooms are double in size and meets the HMO measurement requirements. Bedroom Four has its own private en-suite shower room.

There are two shared shower rooms, one on both the first and second floors.

The communal kitchen is located on the first floor and provides adequate workspace and storage for all five occupants.

The property has CCTV, emergency lighting, fire alarms/sensors in all areas of the home and fire extinguishers on each floor.

The property is connected to mains water, drainage and electricity and has a broadband connection.

Tenure is Leasehold for 150 years from May 2006

Please note that some photos were taken when the rooms were empty. All rooms are fully allocated, so for tenant privacy, we have been unable to upload a photos of every room.

In accordance with Section 21 of the Estate Agents Act 1979, we declare that there is a personal interest in the sale of this property.

Call Bespoke Property Agency today for a viewing!

Auctioneer Comments:

This property is for sale by Modern Method of Auction allowing the buyer and seller to complete within a 56 Day Reservation
Period. Interested parties’ personal data will be shared with the Auctioneer (iamsold Ltd).

If considering a mortgage, inspect and consider the property carefully with your lender before bidding.

A Buyer Information Pack is provided, which you must view before bidding. The buyer is responsible for the Pack fee. For the most recent
information on the Buyer Information Pack fee, please contact the iamsold team.

The buyer signs a Reservation Agreement and makes payment of a Non-Refundable Reservation Fee of 4.5% of the purchase

price inc VAT, subject to a minimum of £6,600 inc. VAT. This Fee is paid to reserve the property to the buyer during the Reservation Period and is paid in addition to the purchase price. The Fee is considered within calculations for stamp duty.

Services may be recommended by the Agent/Auctioneer in which they will receive payment from the service provider if the service is taken. Payment varies but will be no more than £960 inc. VAT. These services are optional.