House of Multiple Occupation
An infrequent freehold residential investment opportunity to acquire a 21 bedroomed HMO property extending to 8,160 sq.ft (758 sq.m) located in a private position situated within literally yards of the city centre.
In our opinion we would anticipate a rental income of £75,000 per annum or thereabouts when fully let, this would represent a 16.6% return based on its very attractive guide price.
The property is set back from the road in a gated courtyard and is 'U' shaped with a central block and two wings that consists of 4 individual studio flats with their own entrance plus 17 bedroomed shared accommodation with superb communal areas consisting of a large kitchen diner in modern units with a wide range of built in appliances, an appealing sitting room, separate laundry room, gymnasium and shared washing and toilet facilities.
The property benefits from uPVC double glazing and gas central heating as well as hard wired fire/smoke alarm systems, CCTV system and necessary fire escape.
In our opinion the property is ready to go for rental purposes and will surely attract local and national interest.
The plan is for illustrative purposes only and not to scale. Interested buyers should check the legal documents.
Vacant.
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.
