property
For sale by auction - Friday 10th July 2015
At Nottingham Racecourse, Colwick Park, Nottingham, NG2 4BE
Commencing at 11.30am
Substantial traditional three storey residence
Currently consisting of six lettable rooms, three believed to be let and generating circa £890 pcm with letting potential of £1800 pcm
Conveniently situated close to Nottingham City Centre
Gas central heating
EPC Rating: E
Substantial traditional three storey terraced residence, situated within this popular well established area within easy reach of the city centre and local amenities. The property is currently split into six self-contained bedsits and benefiting from gas central heating. We believe that three rooms are currently let on an assured shorthold tenancy, generating £890 per calendar month. (£10,680 per annum). When fully let, the monthly rental income potential is circa £1800 per calendar month (£21,600 per annum). Ideal investment opportunity.
The accommodation comprises:
On the Ground Floor:
Entrance Hallway
With radiator, stairs to first floor landing.
Downstairs Bedsit One 15ft 1 into bay x 11ft 1
Having single drainer sink unit, wall mounted and base units, radiator, bay window to front aspect.
Downstairs Bedsit Two 13ft 10 x 11ft 7
With single drainer sink unit, wall mounted twin base unit with radiator, window to rear aspect.
On the First Floor:
Passaged Landing
Communal Bathroom
With three piece suite comprising panelled bath, pedestal wash hand basin, low flush wc, obscure glazed window.
Bedsit Three 14ft 10 x 14ft 5
With radiator, single drainer sink unit, twin wall mounted and base unit, window to front aspect.
Bedsit Four 13ft 5 x 9ft 2
Having single drainer sink unit and fitted units, radiator, window to rear aspect.
On the Second Floor:
Passaged Landing
Bedsit Five 13ft 8 x 9ft 5
Having single drainer sink unit, fitted units, window.
Bedsit Six 14ft 8 x 12ft 5
With radiator, fitted units, single drainer sink unit, window.
Outside
Rear Yard.
Tenure
Freehold. Part let, part vacant
Conditions Of Sale
The Conditions of Sale will be deposited at the offices of the auctioneers and vendors solicitors/licensed conveyancers seven days prior to sale and the purchaser shall be deemed to have knowledge of same whether inspected or not. Any questions relating to them must be raised prior to 11.30 am. Prospective purchasers are advised to check with the auctioneers before the sale that the property is neither sold nor withdrawn.
The purchaser will also be deemed to have read and understood the auction conduct notes printed within the sale catalogue.
Note
Prospective purchasers will need to register within the auction room before the sale commences. Two items of identity will be required together with an indication of how a contractual deposit will be paid. We do not take cash deposits.
The sale of each lot is subject to a buyers fee of £750 (inc VAT) payable on exchange of contracts.
Viewings
By appointment with the auctioneers - 0115 958 8702.
*Guide Prices and Reserve Prices
Each property sold is subject to a Reserve Price. The Reserve Price, which is agreed between the seller and the auctioneer just prior to the auction, would ordinarily be within + or - 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. Both the Guide Price and the Reserve Price can be subject to change up to and including the day of the auction. For a full definition of Guide Price and Reserve Price go to www.grahampennyauctions.com/glossary.
