House of Multiple Occupation
DRAFT DETAILS
Situated within walking distance of the city centre and the fashionable Friar Gate area of Derby is a fully licensed eight double bedroomed HMO property.
The substantial property is currently producing a gross income of £34,388.00 per annum.
The house is sub let as a whole by the vendor and the vendor receives a guaranteed income of £1400 per annum.
This agreement is now on a rolling month by month contract and the person who sublets the property wishes to cease and hand back the property to the new owner at some point.
The property is gas centrally heated and uPVC double glazed and in brief comprises-
Ground Floor
Entrance hall, shower room, two double bedrooms, passaged hallway, breakfast area with opening through to a dining fitted kitchen with built in appliances.
First Floor
Landing leads to two shower rooms and three double bedrooms.
Second Floor
Landing, W.C. and two further double bedrooms.
Outside to the front there is hard standing space with vehicular parking.
The property sits comfortably in a very sought after letting location with superb amenities and boasting excellent road network connections with easy access leading onto the Royal Derby Hospital, A38 and A52. Excellent high yield residential investment opportunity.
Length of lease: 99 years from 25 May 2006. Current ground rent: TBC. Ground rent review period: TBC. Current service charge: TBC. Service charge review period: TBC. This information should be clarified in the legal pack and we’ll update the information above when we receive it.
Leasehold. 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 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.
