Detached house
A potential high yield investment opportunity to acquire a substantial multiple occupancy detached dwelling of eight bedsits with communal areas close to the town centre in a popular and established residential location. The current owner has recently made significant improvements to the property however minor further upgrading and improvements would be beneficial. At present there is only one tenant occupying flat 8 on the continuation rolling agreement of an Assured Shorthold Tenancy agreement producing £192 per four weeks. We feel if the property was fully let, the gross yearly income would be in excess of £30,000 thus producing an excellent high yield return. The property has the benefit of fire alarm, fire extinguishers and blankets, emergency lighting, fire doors throughout, part UPVC double glazing, and gas central heating and the living accommodation consists of front entrance hall, however the main entrance is located to the side of the property (would consider main entrance to front of property) with staircase to first floor, built in boiler room, internal door leading through to a separate inner hallway with further storage space, there are four genuine double sized bedsit rooms, and one single, communal kitchen diner area, a re-fitted shower room and separate w.c. To the first floor landing there are two further double bedsit rooms and one single again with a communal fitted kitchen, refitted shower room along with a separate w.c. Outside to the front there is a small forecourt and to the rear of the property accessed off from Canal Street there is a driveway providing car standing space for comfortably four/five vehicles.
The property is situated on the corner of Breedon Street and Canal Street just off the Derby Road (A6005) which provides swift access onto the bustling town centre. There is the nearby A52 and the M1 motorway providing access onto further regional business centres. Long Eaton is strategically placed between the cities of Derby and Nottingham and also within a short commute of the East Midlands airport.
In more detail the accommodation comprises:-
Entered by door to front.
Entered by door to side, staircase to first floor, boiler room and internal door leading through to the main hallway.
Leading through to front entrance door with emergency lighting.
With single and double glazed window. The fitted kitchen comprises a range of wall mounted cupboards with matching base units, hardtop work surface, two stainless steel sinks and drainers, with splashback tiling. There is a cooker, Beko automatic washing machine and fridge freezer included within the sale, central heating radiator and fire door.
With bay sealed unit double glazed window in UPVC frame to the front elevation, further box bay window to the side elevation, pedestal wash hand basin, central heating radiator and fire door.
With sealed unit double glazed window in UPVC frame to the front elevation, sash window to the side elevation, wall mounted wash hand basin, central heating radiator and fire door.
With sealed unit double glazed window in UPVC frame to the side and rear elevation, this room has had some recent improvements with insulated external walls, central heating radiator and unfitted new pedestal wash hand basin and fire door.
With sealed unit double glazed window in UPVC frame to the rear and side elevation, again improved insulated external walls, pedestal wash hand basin, central heating radiator and fire door.
With sealed unit double glazed window in UPVC frame to the rear elevation, again improved insulated external walls, pedestal wash hand basin, central heating radiator and fire door.
With sealed unit double glazed window in UPVC frame to the side elevation, a newly fitted quadrant shower tray, glazed shower screen, extractor fan and central heating radiator. We are informed by the seller that this has never been used. This room has had some recent improvements with insulated external walls.
Affording a low level w.c. wall mounted wash hand basin and extractor fan.
With sealed unit double glazed window in UPVC frame to the rear elevation.
With two sash windows to the front elevation, wall mounted wash hand basin, central heating radiator and fire door.
With sash windows to the front and side elevation, wall mounted wash hand basin, central heating radiator and fire door.
With sash window to the side elevation, wall mounted wash hand basin, central heating radiator and fire door.
With sealed unit double glazed window in UPVC frame to the side elevation, fitted kitchen comprises a range of base units, hardtop work surface, stainless steel sink and drainer, cooker point, central heating radiator and fire door. Cooker and fridge freezer included within the sale.
Located off from the landing providing access to the shower room and separate w.c.
Comprises sealed unit obscure double glazed window in UPVC frame to the side elevation, a modern shower tray with shower over and glazed shower screen, central heating radiator and extractor fan.
Comprises a low level w.c. wall mounted wash hand basin and extractor fan.
To the front there is a small forecourt, passageway way to the side and vehicular car standing space for approximately four/five located to the rear of the property.
Leaving Derby City centre from the Pentagon island along the A52 heading eastbound towards Nottingham eventually take your exit left signposted for Long Eaton at the traffic island bear right onto Bostocks Lane, proceed for approximately quarter of a mile or so, at the painted island right onto Longmoor, right onto Petersham Road, at the next traffic island turn left onto Derby Road (A6005) continue for approximately quarter of a mile or so eventually turning left onto Breedon Street continue for a short distance and the property will be located on the right hand side as identified by our auction for sale board.
Freehold. Part let/part vacant.
Auction Details:
The sale of this property will take place on the stated date by way of Auction Event and is being sold as Unconditional with Fixed Fee.
Binding contracts of sale will be exchanged at the point of sale.
All sales are subject to SDL Property Auctions’ Buyers Terms. Properties located in Scotland will be subject to applicable Scottish law.
Auction Deposit and Fees:
The following deposits and non- refundable auctioneer’s fee apply:
• 10% deposit (subject to a minimum of £5,000)
• Buyer’s Fee of £1,500 inc. VAT
The Buyer’s Fee does not contribute to the purchase price, however it will be taken into account when calculating the Stamp Duty Land Tax for the property (known as Land and Buildings Transaction Tax for properties located in Scotland), because it forms part of the chargeable consideration for the property.
There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.
Additional Information:
For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions’ home page.
This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack (and any applicable Home Report for residential Scottish properties).
Guide Price & Reserve
Each property sold is subject to a Reserve Price. The Reserve Price will 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. A full definition can be found within the Buyers Terms.
