House of Multiple Occupation
The property is in excellent order and benefits from gas central heating and UPVC double glazing.
Full HMO Licence and fully compliant.
The property has a long letting history and is already let for the 2020-2021 academic year.
The rental income amounts to £28,800 per annum inclusive and therefore offering a return of over 11% at the current guide price.
There is scope for extension to convert to a seven bedroom let (stpc), which would increase the rent by £4,800 per annum.
A ready made, low maintenance investment with income from day one.
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. The agents are more than happy to carry on the management for future landlords.
08/09- £19,584 48 week EX
09/10 £19,296 48 week EX
10/12 - £19,296 48 week EX (2 yr AST)
12/13 - £19,872 48 week EX
13/14- £22,752 48 week EX
14/15- £22,756 48 week EX
15/16- £23,400 52 week EX
16/17 -£26,520 52 week EX
17/18 - £28,800 48 week INC
18/19 - £28,800 48 week INC
19/20 - £27,936 48 week INC
20/21- £28,800 48 week INC
Reception Hallway
Communal Living / Dining Kitchen
Bedroom One
Bedroom Two
Shower Room
Landing
Bedroom Three
Bedroom Four
Bedroom Five
Bedroom Six with En-Suite
Shower Room
Toilet / W.C.
Small fore garden. Well maintained, enclosed, rear garden with patio and lawn.
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.
