Studio flat
A potential high yielding residential investment opportunity to acquire, a purpose brick built, ground floor studio apartment, requiring minor improvements and offered for sale with immediate vacant possession.
Internally there is communal entrance hall and the uPVC double glazed apartment consist of; entrance hall, lounge, bedroom, fitted kitchen with white goods included within the sale and bathroom with three piece suite in white with shower. Outside there are well kept gardens with communal parking.
In our opinion if improvements where made to the property, we would estimate a gross rental income of £425 per calendar month (£5,100 per annum) this would represent a potential and impressive 14.5% return based on the guide price.
The property is situated within a strong residential letting location, conveniently positioned for the city centre, Derbys inner ring road and the Royal Derby Hospital.
5ft 7 x 2ft 8
15ft 7 reducing 9ft 5 x 11ft 3
8ft 5 x 4ft 9
6ft 7 x 4ft
There are well kept gardens with communal parking.
99 year lease from 1982, service charge £900 per annum, ground rent £15 per annum, please seek for legal for verification.
Leasehold. Vacant possession upon completion.
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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.
