Terraced House
A residential investment opportunity to acquire coach house style property, located in a good city centre fringe location, split into three self contained one bedroom flats, let at a reserved rent of £10,800 per annum.
The high yielding property boast an impressive 14.4% return based on the guide price and offers scope for significant rental increase, subject to necessary improvements being carried out to the property. Interestingly the property also benefits from external rendering.
An internal inspection will reveal; side entrance hall with staircase, Flat one having living room/bedroom, kitchen, shower room/wc (please note the auctioneers have noit been able to gain access to this flat). To the first floor landing, Flat Two, having living room/bedroom, kitchen, shower room/wc. Flat Three, having living room/bedroom, kitchen, shower room/wc. Outside to the rear there is a yard.
All flats are let on an assured shorthold tenancy agreements at £300 per calendar per month.
The property is positioned towards the end of Melbourne St, which is now a cul-de sac with little passing traffic. The Derbion Shopping Centre is situated within a short walk along with the city centre.
Note: We have not been provided with evidence of all rent payable and cannot therefore confirm the rental figure referred to in our marketing. Prospective buyers are advised to make all necessary independent enquiries prior to placing their bid as this will be binding.
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.
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 £1,500 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.
