Terraced House
The property benefits from spacious accommodation arranged over three floors, and is set back from the footpath behind a fore garden.The property is situated just over 1 mile walking distance to Coventry University and Cathedral, making it an ideal rental property for investors looking to attract students or professionals.
The property is currently let producing £42,110 per annum, however if the property were to achieve its full rental potential of £45,000, this would equate to a rental yield of 16% if purchased at the current guide price.
The Auctioneers have not inspected the property but believe it to comprise:
The rooms are let on Assured Shorthold Tenancy agreements with the following terms:
Room 1 – rent £500 pcm – tenancy expires 11/8/2020
Room 1 – rent £500 pcm – tenancy in place for 12/8/2020 – 12/8/2021
Room 2 – rent £485 pcm – tenancy expires 31/6/2020
Room 3 – rent £430 pcm – tenancy expires 31/7/2020
Room 4 – rent £525 pcm – tenancy expires 20/1/2021
Room 5 – rent £485 pcm – tenancy expires 31/7/2020
Room 6 - rent £485 pcm – tenancy expires 10/9/2020
Room 7 – rent £475 pcm – tenancy expires 28/5/2020
Room 8 – rent £400 pcm – tenancy expires 31/3/2020
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.
