Block of Apartments
An excellent freehold high yield residential investment opportunity to acquire a recently renovated terraced house converted into 2 x 1 bedroomed self-contained flats finished to an exceptionally high standard.
Both flats are now let on ASTs £575 per calendar month (£6,900 per annum) therefore producing an impressive combined rental income of £13,800 per annum. This will represent an impressive 13.14% 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.
Internally the property has undergone a comprehensive scheme of improvements to include uPVC double glazed windows, re-plastering, new flooring, rewiring, new gas central heating system along with newly fitted kitchen and shower rooms.
A recommended internal inspection will reveal communal entrance hall providing access to both flats which consist of a very similar style layout comprising of lounge, separate double bedroom, contemporary style fitted kitchen with integrated fridge/freezer, dishwasher, washing machine, oven/hob with extractor hood and their own separate combination boilers and luxury fitted shower rooms. Outside the to the front there is small forecourt and to the rear the flats share a low maintenance alfresco style garden.
The property is situated in the context of an established and popular residential location, close to local amenities and the nearby A38 provides swift access onto the M1 Motorway and the cities of Derby and Nottingham.
The property is offered for sale with immediate vacant possession and offers the new owner the opportunity to choose their own tenants.
9ft5 x 3ft5
Comprising -
12ft into chimney recess x 12ft
12ft 5 into chimney recess x 12ft 2
14ft 5 x 8ft 4
5ft 7 x 3ft 8
Comprising -
12ft x 6ft 1 into recess
15ft 9 x 12ft 2
12ft 1 x 9ft 5
10ft 4 x 8ft
8ft x 3ft 5
To the front there is small forecourt and to the rear an enclosed low maintenance garden incorporating an alfresco style living.
We are informed by the seller there has been structural movement in the past and we recommend perspective buyers to make their own enquiries.
These sales details are awaiting vendor approval.
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 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.
