House of Multiple Occupation
DRAFT DETAILS
Six bedroom, all with en suite, student HMO which has been recently renovated. It is currently fully let and already let for the next academic year (2022/2023) on a single assured shorthold tenancy for £35,000 per annum.
The property is currently generating income of £33,843 which represents a yield of 13.5% against the guide price. For the next academic year (2022/2023), the property has already secured it's student tenants with an increase in income to £35,772 per annum which boasts a yield of 14.3% against the guide price.
Prospective buyers are advised to make all necessary independent enquiries prior to placing their bid as this will be binding.
Entrance Hall<br>Living/Dining/Kitchen - 15ft 4 (max) x 12ft 4 (max)<br>Bedroom Four - 16ft 1 (max) x 9ft 6 (max) with Ensuite<br>Bedroom Five - 15ft 11 (max) x 9ft 6 (max) with Ensuite
Bedroom One - 20ft 9 (max) x 17ft (max) with Ensuite<br>Bedroom Three - 16ft 10 x 12ft with Ensuite
Bedroom Two - 17ft 3 (max) x 16ft 10 (max) with Ensuite
Bedroom Six - with Ensuite
Freehold. Subject to tenancy.
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 Variable Fee (England and Wales).
Binding contracts of sale will be exchanged at the point of sale.
All sales are subject to SDL Property Auctions’ Buyers Terms.
Auction Deposit and Fees
The following deposits and non- refundable auctioneer’s fees apply:
• 5% deposit (subject to a minimum of £5,000)
• Buyer’s Fee of 4.8% of the purchase price for properties sold for up to £250,000, or 3.6% of the purchase price for properties sold for over £250,000 (in all cases, subject to a minimum of £6,000 inc. VAT). For worked examples please refer to the Auction Conduct Guide.
The Buyer’s Fee does not contribute to the purchase price and will be considered as part of the chargeable consideration for the property in the calculation of stamp duty liability.
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.
Guide Price & Reserve Price
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.
