Block of Apartments
A substantial, three story period villa which has been converted to provide two spacious apartments. A two bedroom apartment on the ground floor and a 4 bedroom apartment arranged over the first and second floors. Each apartment is self-contained and each has their own separate utility supplies and meters. Ideal for either new or experienced investors, as all the hard work has been done!
A superb buy to let investment which is already let out for the 2017-2018 academic year at a combined rental of £21,712 per annum.
The ground floor apartment is let at £7800 per annum exclusive of bills.
The upper floor flat is let to four students at a combined rent of £13,912 per annum inclusive of bills.
Situated in a highly desirable location just off Narborough Road and close to DeMontfort University, The Royal Hospital, The City Centre and the Motorway network.
The property is in excellent condition throughout with modern and upgraded kitchen and bathrooms, uPVC double glazing throughout, recent upgrade of consumer units, upgraded fire alarm systems, gas central heating and excellent décor. This is truly a ready made, turn-key investment with income from day one offering a yield of nearly 10% !!
*Note - Yield calculated by expressing gross rents as a percentage of the guide price - £21,712/£225,000 = 9.65%.
In more detail-
With original tiled flooring and ceiling cornice.
With understairs cupboard.
3.63m x 3.34m max. With radiator, laminate floor and window to the side aspect.
3.62m x 2.64m. With a modern range of base and wall units, integrated oven, hob and hood, sink unit, tiled floor, radiator and both window and door to the side.
4.74m x 3.66m. With radiator and bay window to the front aspect
4.23m x 3.07m. Radiator, period fireplace and window to the rear aspect.
With a modern, white suite of; Low flush w.c. wash hand basin, panel bath with shower over, tiled walls and window to the side aspect.
5.20m x 2.70m. With a modern fitted kitchen, integrated oven, hob and hood, sink unit, radiator and windows to the side and rear.
4.95m x 3.96m. With radiator and window to the front.
4.17m x 3.07m. Radiator, original fireplace and window to the rear.
A modern suite comprising Low flush w.c. wash hand basin and panel bath with shower over and tiled floor and walls.
4.64m x 3.37m. Radiator, built in wardrobe and Dormer window to the front.
2.80m x 2.80m. Radiator, built in wardrobe and window to the rear.
Rear yard
Freehold. Subject to tenancy.
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.
