House of Multiple Occupation
DRAFT DETAILS. Detached, five room HMO let at £16,380 per annum.
This is a good opportunity for an established landlord to acquire a high-returning investment property in the busy market town of Colne, Lancashire. Arranged as a 5 room HMO, let individually, the current income based on the Guide Price represents a potential yield of 23.5%+ and is arranged as follows:
3x rooms let at £65 PW.
2x rooms let at £260 PCM.
NOTE: One of the tenants have been served notice to vacate.
The auctioneers have not inspected the property but believe it to comprise:
Entrance hall
Four rooms each with shower, sink and toilet
Landing
Communal lounge
Communal kitchen
Room five with shower, sink and toilet
Freehold.
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.
