Block of Apartments
DRAFT DETAILS
A substantial and attractive end terraced-property converted into two x one bedroomed flats and a studio penthouse(loft) being part let, part vacant, currently producing £9,620 per annum. Thought suitable for significant rental increase after improvements are made to the property and we would estimate a potential combined income of circa £15,000 per annum, which would represent a 17.6% return based on the guide price. Prospective buyers are advised to make all necessary independent enquiries prior to placing their bid as this will be binding.
The property occupies a pleasant residential location, situated within literally yards of Derby Arboretum Park, local shopping parade, along with the city centre. Excellent residential investment opportunity.
With staircase to first floor.
The auctioneers have not been able to gain access to the flat however we are informed by the seller that the accommodation consists of lounge, bedroom, kitchen and bathroom.
Flat One is currently let on an assured shorthold tenancy at £90 per week (£4,680 per annum).
Leading to -
Comprising -
With door.
With uPVC double glazed window, storage heater and -
With uPVC double glazed window.
With uPVC double glazed window.
With uPVC double glazed window. Fitted kitchen in white shaker style units, stainless steel sink and drainer.
With uPVC double glazed window. Fitted with a three piece suite comprising panelled bath with low level wc, pedestal wash hand basin and tiling to walls.
Flat Two is let at on an assured shorthold tenancy at £95 per calendar month (£4,940 per annum).
With roof light, panel heater and fitted kitchen.
Comprising a shower cubicle, low level wc, wash hand basin and tiling to walls.
The Studio Flat is vacant. Estimated potential rental income of £325 to £350 per calendar month, based on comparable evidence.
To the rear of the property there is an enclosed garden.
Freehold. Part let/part vacant.
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 (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 fee apply:
• 10% deposit (subject to a minimum of £5,000)
• Buyer’s Fee of £1074 inc. VAT
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.
