House of Multiple Occupation
The property has a full HMO License and is fully compliant and has been owned and fully let for the past 16 years and is already let for the 2020-2021 academic year.
The rental income amounts to £28,512 per annum inclusive and therefore offering a return of over 10%.
The property is in excellent order with refitted modern kitchen, modern shower rooms and has been recently decorated and had new flooring throughout. Other benefits include gas central heating and uPVC double glazing.
A ready made, low maintenance investment with income from day one.
Entrance Lobby, Reception Hallway, Communal Kitchen (refitted and fully equipped), Communal Lounge, Bedroom One, Bedroom Two.
Landing, Cloakroom/wc, Bedroom Three, Bedroom Four, Bedroom Five, Bedroom Six, Bedroom Seven, Bathroom Area with Three Shower Rooms and Two Separate Toilets.
Small yard/garden to the rear.
This student investment property has been fully managed and continually let out to students by Nicholas Humphreys estate and letting agents at Friar Gate Derby since purchase by the current owners on 30th November 2004. The annual rental incomes have steadily increased over time and are recorded here for your information.
20/21 £28,512 inclusive of utilities
19/20 £12,000 property vacant for period of refurb
18/19 £27,840
17/18 £27,840
16/17 £24,700
15/16 £21,360
14/15 £21,360
13/14 £21,840
12/13 £21,120
11/12 £19,920
10/11 £14,240
9/10 £19,920
8/9 £22,368
7/8 £21,360
6/7 £20,880
5/6 £22,180
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.
