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Guide Price: £190,000.00

Modern Method of Auction

29 The Promenade , , Mount Pleasant , SA1 6EN

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CURRENT BID*

£175,000.00

(Place a bid)

STARTING TIME

29/05/2025 13:00:00

Lot Number: 61684694

Property ID: 63007479

Whoobid Auctioneers

djacobs@whoobid.co.uk

01202 137200

The minimum current bid is £175,500.00

Fees Apply

Automatic maximum bid £ (only bid in increments of £500)

£

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Guide Price

£190,000.00

Method of Auction

Modern

Property Type

House

Number Of Beds

5+

Tenure

Freehold Property

Address

29 The Promenade

Key Features

• 5 Bedroom HMO
• Gross Annual Income £34,680 (When Fully Tenanted) – over 18% yield based on guide price
• All Self Contained Studios With Their Own Bathrooms & Kitchenettes
• Parking Area
• Garden
• Freehold
• Buyers Fee Applies
• Pre Auction Offers Considered
• Auction Pack Available On Request

Description

We are pleased to present this is a substantial three-storey mid-terraced property offering a prime investment opportunity, located in the heart of Mount Pleasant. Currently configured into five self-contained studio flats, this property generates a gross annual income of £34,680 when fully tenanted – with the potential to increase.

Property Configuration:
• Ground Floor: Two studio flats
• First Floor: Two studio flats
• Top Floor: One studio flat with access to an external balcony

Tenancy Details:
• Each studio is independently metered for electricity, with the landlord covering additional bills.
• Current monthly rents range from £495 to £700 per studio:
• Ground floor - Front studio let at £495pcm - potential to increase, rear studio vacant but most recently let at £600pcm
• First floor - Front studio let at £495pcm - potential to increase, rear studio vacant but most recently let at £700pcm
• Top floor - Vacant as of 3rd May - Most recently let at £600pcm however potential to increase to £750pcm

Exterior Features:
• Front garden area.
• Rear space providing off-road parking.

Location Highlights:
• Situated in Mount Pleasant, a suburban neighbourhood of Swansea known for its mix of terraced and semi-detached housing.
• Approximately 0.5 miles from Swansea Rail Station, offering convenient transport links.
• Close proximity to Swansea city centre, providing easy access to shops, restaurants, and local amenities.
• Nearby supermarkets include Tesco (0.5 miles), Sainsbury's (0.6 miles), and Asda (1.6 miles).

Additional Information:
• Council Tax Band: E.
• EPC Ratings: Ground Floor Front Flat - D, Ground Floor Rear Flat - D, First Floor Front Flat - C, First Floor Rear Flat - E, Top Floor Flat - E.

This property presents a compelling opportunity for investors seeking a well-located, income-generating asset in Swansea.

Modern Terms & Conditions -
This property is for sale via Online Auction. This is a modern twist on the traditional auction room sale where buyers can bid for the property via an online platform. The winning bidder, assuming the reserve is met, is granted exclusivity of the property at the winning bid price for 28 days in which they must exchange, or the vendor reserves the right to remarket the property and the reservation fee will not be returned, they will then have a further 28 days to complete. The auction will run for 3 hours on a set date and time chosen by the vendor of the property. Upon completion of a successful auction the winning bidder will be required to pay a non-refundable reservation fee of 3.6% inclusive of VAT of the winning bid in addition to the purchase price subject to a minimum fee of £5940 inclusive of VAT. The auction is powered and carried out by Whoobid and is subject to terms & conditions which will form part of the auction pack which will be available to download for free once produced by the vendors legal representatives. We strongly recommend that you review the legal documents prior to bidding and seek legal advice. PLEASE REMEMBER THAT THE RESERVATION FEES ARE PAYABLE IN ADDITION TO THE SALE PRICE.

Fees paid to the auctioneer may be considered as part of the chargeable consideration and may attract stamp duty liability. Bidders will be required to register in order to download the ‘legal pack’, if you choose to bid on the property, you will be required to complete further identity checks for anti-money laundering purposes, provide card and solicitors details before you are able to place a bid. Properties may be sold prior to public auction if an offer is accepted by the vendors.

**Guide price - This is an indication of the seller’s minimum expectations at auction and is not necessarily the figure the property will achieve but acts as a guide, prices are subject to change prior to the auction.

**Reserve price - Most auctions will be subject to a reserve price, if this figure is not achieved during the auction then the property will not be sold. In normal circumstances the reserve price should be no more than 10% above the guide price.

Property Brochure

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Property Auction Pack

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EPC

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Floor Plan

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**These particulars are produced by the advertising agent and not
verified by Whoobid, they are believed to be correct but their accuracy
cannot be guaranteed and they do not constitute an offer or form part of
any contract.**

Map Location

Property Location

Address: SA1 6EN

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Agent's Information

Name: Whoobid Auctioneers

Address: LONDON, Dorset, EC1V 2NX

Telephone Number: 01202 137200

Email: djacobs@whoobid.co.uk

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