Modern Method of Auction
Auction date not yet published
2-bedroom flat · WN3 4FQ
Sold STCReduced £5k (−6.7%) on 24 JunListed 1954 days
Opportunity summary
See Archie’s verdict, returns by strategy and what to check before viewing.
About
Being Sold via Secure Sale online bidding. Terms & Conditions apply.
Starting Bid £70,000 Cash buyers only Qube Residential are delighted to offer this well proportioned two bedroom apartment finished to a high standard throughout.
The apartment briefly comprises of an open plan living room through to modern fitted kitchen, two double bedrooms and contemporary bathroom.
Located on the first floor, this fantastically spacious apartment also benefits from allocated parking.
Wallgate Apartments are situated just 0.3 mile to local rail stations, and are located on the main bus route in and out of Town.
This development would make a great investment opportunity, there is never a shortage of tenants wanting to move to this development.
Pattinson Auction are working in Partnership with the marketing agent on this online auction sale and are referred to below as 'The Auctioneer'.
This auction lot is being sold either under conditional (Modern) or unconditional (Traditional) auction terms and overseen by the auctioneer in partnership with the marketing agent.
The property is available to be viewed strictly by appointment only via the Marketing Agent or The Auctioneer. Bids can be made via the Marketing Agents or via The Auctioneers website.
Please be aware that any enquiry, bid or viewing of the subject property will require your details being shared between both any marketing agent and The Auctioneer in order that all matters can be dealt with effectively.
The property is being sold via a transparent online auction.
In order to submit a bid upon any property being marketed by The Auctioneer, all bidders/buyers will be required to adhere to a verification of identity process in accordance with Anti Money Laundering procedures.
Bids can be submitted at any time and from anywhere. Our verification process is in place to ensure that aml procedure are carried out in accordance with the law.
A Legal Pack associated with this particular property is available to view upon request and contains details relevant to the legal documentation enabling all interested parties to make an informed decision prior to bidding.
The Legal Pack will also outline the buyers’ obligations and sellers’ commitments.
It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.
In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit equivalent to 5% of the purchase price of the property.
The deposit will be a contribution to the purchase price.
A non-refundable reservation fee of up to 6% inc VAT (subject to a minimum of 6,000 inc VAT) is also required to be paid upon agreement of sale.
The Reservation Fee is in addition to the agreed purchase price and consideration should be made by the purchaser in relation to any Stamp Duty Land Tax liability associated with overall purchase costs.
Both the Marketing Agent and The Auctioneer may believe necessary or beneficial to the customer to pass their details to third party service suppliers, from which a referral fee may be obtained.
There is no requirement or indeed obligation to use these recommended suppliers or services.
Tenanted until 31/07/23 @ £775 pcm Service Charge: £2,793.14 pa (at time of advertising) Ground Rent £ 250 pa Lease Length 250 Years From Jan 2018 Entrance Hall 'L' Shaped, laminated flooring, wall mounted intercom system, walk in storage housing water tank and washer/dryer.
Open Plan Living/Dining (4.57m x 3.32m) Laminated flooring, upvc double glazed windows to front aspect, wall mounted electric radiator, opens onto kitchen Kitchen (4.32m x 1.76m) Laminated flooring, range of wall and base units, flat edged work surfaces, integrated electric oven and hob with stainless steel splashback and extractor, sink and drainer with mixer taps, integrated fridge freezer, recessed spotlights to ceiling.
Bedroom 1 (3.49m x 3.28m) Laminated flooring, upvc double glazed window to front aspect, wall mounted electric radiator.
Bedroom 2 (3.48m x 3.04m) Laminated flooring, upvc double glazed window to front aspect, wall mounted electric radiator.
Bathroom (2.83m x 1.61m) Tiled flooring, low level w/c, pedestal wash basin, panelled bath with power over shower and splash guard, chrome vertical towel warmer, tiled to compliment.
Value & comps
No previous sales on record.
See the independent valuation, upside vs guide, and per-strategy max bid for this lot. Sign in to see it.
Returns
Set an offer; the calculator follows it.
We're still gathering serviced-accommodation data for this area.
Archie refurb estimate: a Pro feature
0.0% below starting price
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Deal
Properties like this can earn 2–3x BTL yields when converted to HMO, with retrofit costs around £10k/room. Sign in to see the full tier, yield projection, and cost breakdown.
Commercial properties like this can earn 30-50% higher yields when converted to residential under Class MA / Q / P / PA, with prior approval costing ~GBP 96/unit. Sign in to see the recommended route, yield uplift, and cost breakdown.
BRRR-suited properties can recycle 80-100% of investor capital on refi, leaving a high-yielding rental with most of the money out. Sign in to see the refurb cost stack, ARV projection, and refinance maths.
Detached + large garden = sub-division play. Pro tier unlocks the tier badge, plot size, uplift estimate, and regional land benchmark.
Short-lease flats trade at deep discount, but extending under the 1993 Act often costs far less than the discount. Pro tier unlocks the tier badge, premium breakdown, long-lease ARV and arbitrage maths.
See projected short-stay revenue vs a vanilla BTL for this property.
See real sub-let margins (HMO room rates & SA nightly rates) vs the landlord rent.
Area
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FAQ
About 42, Wallgate Apartments, Wigan
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