Town house
DRAFT DETAILS AWAITING VENDOR APPROVAL. A freehold investment opportunity to acquire a spacious four storied town house partly renovated with plans to convert into four self-contained one bedroomed flats.
In accordance with the proposed drawings all of the flats will consist of open plan fitted kitchen lounges, bedrooms with separate bathrooms. The lower ground floor flat will have its own access which is approached from the rear of the property where there is communal parking. The main entrance is located to the front of the property which will serve the ground floor, first floor and second floor proposed flats.
An internal inspection will reveal some of the flats stud work has been erected, however a full scheme of improvement and upgrading is required throughout.
When fully let we would anticipate an income of circa £20,000 per annum (each flat approximately let at £400-£425 per calendar month).
The property is situated within short walking distance of the city centre, the fashionable Friar Gate area of Derby and will surely appeal to landlords/investors.
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.
