House of Multiple Occupation
The property is a three storey mid-terrace located in Gorton located close to local amenities, transport links and Manchester city centre.
It has had improvements to kitchens and bathroom facilities and has 6 tenants in residency, currently let producing an annual income of £26,000 with all residents on rolling contracts. We believe there is scope to increase room rents.
The accommodation comprises:
Hallway, lounge, bedroom one, dining kitchen and shower room.
Three bedrooms, bathroom.
Two bedrooms.
Externally, small front garden area, yard to rear.
Current income per week (proof will be provided in legal pack, all rooms tenanted at time of inspection). Room 1 - L- £85. Room 2 C- £80. Room 3 K - £85. Room 4 E - £90. Room 5 R £75. Room 6 M £80 <br>Total Income £500 per week. £26,000 per annum.
Any ground rent and service charge review periods will be confirmed in the lease documents within the legal pack.
These sales details are awaiting vendor approval.
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.
Binding contracts of sale will be exchanged at the point of sale.
All sales are subject to SDL Property Auctions Buyers Terms. Properties located in Scotland will be subject to applicable Scottish law.
Auction Deposit and Fees
The following deposits and non- refundable auctioneers fee apply:
• 10% deposit (subject to a minimum of £5,000)
• Buyers Fee of £6,000 inc. VAT
The Buyers Fee does not contribute to the purchase price, however it will be taken into account when calculating the Stamp Duty Land Tax for the property (known as Land and Buildings Transaction Tax for properties located in Scotland), because it forms part of the chargeable consideration for the property.
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 (and any applicable Home Report for residential Scottish properties).
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.
