End of terrace house
***High yielding freehold residential investment opportunity***
Located on the corner of Stone Hill Road and St Giles Road, is a very substantial 9 bedroomed HMO property, offered for sale with immediate vacant possession and lends itself to buyers to make improvements along with scope for significant rental increase.
In our opinion as the property currently stands, we would estimate a gross rental income of circa £50,000 per annum, this would represent an impressive 16.9% return based on the guide price.
The property is a large uPVC double glazed and gas centrally heated period home currently used by a local charity with 9 lettable bedrooms ,sharing 3 showers and a further WC. There are 2 kitchens with open plan reception rooms attached to them, a further set of offices, a utility room and further storage.
The property is situated within the context of an established and sought after residential location, conveniently positioned for the Derby City Centre and the University Campus and Derbion Shopping Centre.
Freehold. Vacant possession upon completion.
Auction Details
The sale of this property will take place on the stated date by way of Auction Event and is being sold under and Unconditional sale type.
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.
