House of Multiple Occupation
The property is being sold on behalf of Coventry University and has a great letting history, and is well paced for the University and city centre. The property offers six bedrooms along with a shared kitchen and two bathrooms. There is also a self contained studio flat to the top floor with own kitchen and bathroom. The accommodation is double glazed throughout, has gas fired central heating, with kitchen appliances and washing machine in place. Externally there is a garden area to the rear of the property. The property is also being sold fully furnished and ready to let.
The property is being sold with vacant possession but would bring in an estimated rental income of around £30,000 per annum giving a return of 12%. A great investment in good order throughout and ready to rent out straight away.
Self contained flat comprising:-
Rear garden with patio and lawn
Freehold. Vacant possession upon completion.
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.
