Semi-Detached House
Draft Details Only- Awaiting Vendor Approval
Situated to the rear of Derbyshire Royal Infirmary, on the section of Osmaston Road between Melbourne Street and Hartington Street, a pair of extremely spacious three storied (plus cellars) semi detached houses with doorway link at first and second floors, each having one self contained flat on each of the three floors. Mainly the flats are one bedroomed although the largest one is a three bedroomed. Some have gas central heating and others night storage heaters.
The properties have been used for investment purposes in their present form for many years and have always enjoyed few voids and good occupancies. At the time of publication of these details, two of the six flats are vacant although may well be let prior to the date of the auction. The let flats range between £325 and £400 per calendar month. Current rental income is £1,405 per calendar month. If the two vacant flats are let that figure will increase to over £2,000 pcm (£24,000+ p.a.)
IN more detail the accommodation is as follows -
112 OSMASTON ROAD
Combined Entrance Hall and Stairs to first and second floors.
Flat Two (Ground Floor)
Centrally heated and having a private hallway, dining kitchen, large bathroom with shower over bath, separate wc, bay windowed living room and double bedroom.
First Floor -
Flat Four
Gas centrally heated and having private entrance hall, sitting room with either bedroom or study off, two bedrooms, kitchen, bathroom/wc with shower over bath.
Second Floor -
Flat Six
Having electric heating and comprising entrance hall, living room, two bedrooms, kitchen, bathroom/wc with shower over bath.
114 OSMASTON ROAD
Flat One (Ground Floor)
Gas centrally heated and having private entrance hall, kitchen, living room with bay window, double bedroom, bathroom/wc with shower over bath.
First Floor -
Flat Three
Having electric heating comprising private hall, sitting room with study off, double bedrooms, kitchen, bathroom with shower over bath.
Second Floor -
Flat Five
With electric heating having private entrance hall, sitting room, double bedroom, kitchen, bathroom/wc with shower over bath.
NOTE - The two ground floor flats have the benefit of intruder alarms.
Outside
Both properties have small forecourts with wrought iron railings. 112 has an integral storeplace/narrow garage with access through to the rear. 114 has a gated side path with access to rear. Both have enclosed rear yards and gardens.
Rent Schedule
At the time of publication of these particulars, four of the flats are let on assured shorthold tenancies producing a combined income of £1,405 per calendar month (£16,860 per annum). Flat five is currently advertised at £300 per calendar month, and flat three at £325. If let at these figures the flats will yield £2,030 pcm (£24,360 per annum).
INTERNAL INSPECTION STRONGLY RECOMMENDED.
Tenure
Freehold. Part let; part vacant.
Conditions Of Sale
The Conditions of Sale will be deposited at the offices of the auctioneers and vendors solicitors/licensed conveyancers seven days prior to sale and the purchaser shall be deemed to have knowledge of same whether inspected or not. Any questions relating to them must be raised prior to 11.30 am. Prospective purchasers are advised to check with the auctioneers before the sale that the property is neither sold or withdrawn.
The purchaser will also be deemed to have read and understood the auction conduct notes printed within the sale catalogue.
Note
Prospective purchasers will need to register within the auction room before the sale commences. Two items of identity will be required together with an indication of how a contractual deposit will be paid. We do not take cash or credit card deposits.
The sale of each lot is subject to a contract documentation charge of £350 (inc VAT) payable on the fall of the hammer.
For Sale by Auction: Thursday 9th July 2009
At Pride Park Stadium, Derby
Commencing at 11.30 am
EXCELLENT HIGH YIELD RESIDENTIAL INVESTMENT
Two large three storied semi detached houses
Six spacious self-contained flats
Good City centre fringe location
