Buy-to-let investors across the North West will be looking to pick up a bargain when a rental property with a sitting tenant goes under the hammer in Bond Wolfe’s next auction on Thursday February 6.
The two-bedroomed mid-terraced house in Blackburn is understood to be generating £6,000 a year in rental income.
Gurpreet Bassi, chief executive of Bond Wolfe, says: “A property with a sitting tenant will have clear attractions for those building their rental portfolio.
“This is another example of Bond Wolfe’s increasingly national range, with lots in our February auction from London to Liverpool, County Durham, Suffolk, Clywd and mid Glamorgan, as well as our bedrock of regulars in the Midlands.”
The residential investment property in Blackburn is being sold on behalf of the LPA receivers and is listed with a guide price of just £59,000 – some way below current market values for similar homes in the area.
The house stands flush to the pavement, with a yard to the rear. There is a hall, two reception rooms and a kitchen on the ground floor, with two bedrooms and a bathroom with WC off the landing upstairs.
Bassi adds: “The property is being sold freehold, subject to its existing tenancy. We understand that the property is let at a rental figure of £500 per calendar month – £6,000 per annum.”
The Blackburn property will be among scores of lots appearing in Bond Wolfe’s next auction which is due to start at 8.30am on Thursday February 6.
The auction will be livestreamed via Bond Wolfe’s website with remote bidding by proxy, telephone or internet.