Terraced House
DRAFT DETAILS AWAITING VENDOR APPROVAL. An excellent buy-to-let investment opportunity to acquire a four bedroomed, three storied late Victorian mid-terraced property with planning permission approved (19/00060/FUL) for a single storey rear extension to be demolished and then rebuilt creating five bedroomed en-suite accommodation with communal living and kitchen.
Once completed the estimated rental income will be between £450-£475 per calendar month for the individual rooms, thus equating to £2,350 per calendar month combined. Overall the gross rental income we would estimate in the region of £25,000-£26,000 per annum for student accommodation.
The existing property has undergone some improvements including new windows, damp proofing and is currently a shell ready for work to commence. The living accommodation consists of a shared passage hallway with side entrance hall entered by a composite door and with staircase to first floor and door to cellar, front sitting room, dining room, kitchen and utility area. To the first floor landing there are two bedrooms and a bathroom and to the second floor landing there are two further bedrooms. To the rear there is an enclosed low maintenance garden.
If constructed with the approved plans, the new layout will consist of entrance hall, front bedroom with en-suite, a rear sitting room/dining room with kitchen and a bedroom with en-suite. The first floor landing will lead to two bedrooms both with en-suites. The second floor landing will lead to bedroom five with en-suite.
The property enjoys a well regarded residential location situated off the popular Kedleston Road close to tree-lined Broadway, the University of Derby and is also within a short commute of the city centre.
Comprises -
Entered by replacement composite door, red quarry tiled floor covering, staircase to first floor and door to cellar.
With sealed unit double glazed window in uPVC frame to the front elevation.
With sealed unit double glazed patio doors opening through to the kitchen.
With sealed unit double glazed window in uPVC frame to the side elevation and opening through to the utility room.
With sealed unit double glazed window to the side elevation.
Leading to -
With sealed unit double glazed window in uPVC frame to the front elevation.
With sealed unit double glazed window in uPVC frame to the rear elevation.
With sealed unit double glazed window in uPVC frame to the rear elevation. Fitted with a three piece suite comprising a panelled bath, low level wc, pedestal wash hand basin, complementary tiling to the walls and extractor fan.
Leading to -
With sealed unit double glazed window in uPVC frame to the front elevation.
With sealed unit double glazed window in uPVC frame to the rear elevation.
To the rear there is a low maintenance garden.
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.
