OPENING BID

Timed Online Auction

29 January 2021, 10am-4pm

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  • TypeFlat
  • Ownership Freehold
  • Occupation Tenanted
  • Bedrooms 2
  • Council Tax Search SAA

Description

Full Address: 977 Cathcart Road, Glasgow, G42 8XF

Two Bedroom MAIN DOOR lower cottage flat in popular Cathcart Road. RENTAL INCOME- 8,100 PER ANNUM (Professionally Managed by Letting Agent). The property is in a highly sought after central location

COMPRISES: HALLWAY, TWO BEDROOMS, FAMILY BATHROOM, SPACIOUS LOUNGE, MODERN KITCHEN WITH A BREAKFAST BAR AND PRIVATE FRONT AND REAR GARDENS. Property Size: 743 Sq.Ft. HOME REPORT 120,000 NOVEMBER 2020

Double Glazing. Gas Central Heating. RICS Home Report Valuation - 120,000. FRONT AND REAR GARDENS. Parking. Rental 675 per month (8,100 per annum) on PRT agreement (Private Residential Tenancy)

SALES - 023 Cathcart Road 1/2 Sold 199,650 (Sept 2019)**997 Cathcart Rd 1/1 Sold 181,500 (Dec 2018)**1058 Cathcart 2/1 Sold 176,176 (Oct 2018)

The Cathcart district is south of Glasgow City Centre. Leafy district benefiting from having excellent transport links throughout Glasgow with major bus routes on both Victoria Road and Cathcart Road

IDEAL Property for 1st time buyers, investors or as a BUY-TO-LET property. LOCAL SALES EVIDENCE 550 Cathcart Road previously SOLD for 65,000, 614 Cathcart Road for 86,784 & 676 Cathcart road for 101,000. Benefit of being managed professionally through local letting agency. PRT Agreement signed and available. Current tenants have been in property since 2017. COMPRISES: HALLWAY, TWO BEDROOMS, FAMILY BATHROOM, SPACIOUS LOUNGE, MODERN KITCHEN WITH BREAKFAST BAR AND PRIVATE FRONT/REAR GARDENS WITH ON STREET PARKING. Property Size: 743 Sq.Ft. HOME REPORT 120,000 NOVEMBER 2020. Double Glazing. Gas Central Heating. RICS Home Report Valuation - 120,000. Rental 675 per calendar month (8,100 per annum) on PRT agreement (Private Residential Tenancy). Cathcart Road is in a central and desirable location benefiting from having excellent transport links to Glasgow City Centre by car (circa 10 minutes), by train (Queens Park train station is on route to Glasgow Central, circa 5 minutes) and via Victoria Road which is a main bus route throughout the Southside of Glasgow. SALES - 644 Cathcart Rd 3/2 Sold 117,108 (Oct 2020)***1023 Cathcart Road 1/2 Sold 199,650 (Sept 2019)**997 Cathcart Rd 1/1 Sold 181,500 (Dec 18)**1058 Cathcart 2/1 Sold 176,176 (Oct 2018)

Highly sought after area close to neighbouring Shawlands, Mount Florida and up market Newlands, Langside and Queens Park. Excellent catchment area of sought after locations. Leafy busy road close to Hampden Stadium, Queens Park and several up-market modern housing complexes. Excellent Transport Links with M74 and M8 Motorway a short 5 minute drive. Glasgow City Centre is about 10 minutes with excellent train, bus or road links. Popular rental area with students at Strathclyde and Glasgow University all easy commuting distance. Recreational pursuits are readily accessible via Albert Park and Queens Park is also only a short distance from this property. Local shopping and entertainment districts including Shawlands and Silverburn are readily accessible and the highly desirable Queens Park, which plays host to farmers markets and a number of other popular recreational pursuits, is on the doorstep of this property

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Tenancy Details

Type of Agreement: Private Residential Tenancy (PRT)
Length: 3 years - Since 2017
Rent: 8,100 per year / 675 per month
Yield: 7% (approx)
Tenant: Private Individual
Notes: Rental 675 per month (8,100 per annum) on PRT agreement (Private Residential Tenancy)

Document Downloads

HOME REPORT (Available) LEGAL PACK (Available)

Location

Pricing Information & Bidding

Opening Bid: £82,500

What is an Opening Bid? This property is entered into an online auction where the bidding will start or open at the above price. Unless specified all properties are subject to a Reserve (minimum acceptable price).

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Terms of Sale

  • 10% Deposit
  • Standard Completion
  • Buyers Fee = 1.25% of Sale Price (Minimum £2,500 + vat)

* STANDARD TERMS are 4 week completion with 1 week entension. Sellers can request a varied completion and buyers must satisfy themselves prior to bidding.

Auction Details

Date & Time: 29 January 2021, 10am-4pm
Type: Timed Online Auction

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