Block of Apartments
Excellent buy to let residential investment opportunity.
Situated within literally yards of Derby City Centre, is a substantial freehold property, converted into 3x self contained one bedrooms flats, being part part vacant with a potential income of circa £22,000 when fully let, this representing an impressive 15.7% return based on the guide price.
The traditionally built property is arranged over three floors and in brief comprises of, communal side entrance passage. Flat 1 with vacant possession, (front), recently upgraded consists of open plan living kitchen with built-in-appliances, inner lobby/utility, double bedroom and bathroom with three piece suite in white with shower.
Flat 2 (rear) - the auctioneer has not inspected and we are informed by the seller the accommodation consists of, entrance hall, fitted kitchen with stairs. First floor landing lounge, bedroom and bathroom. Currently let producing £625 per calendar month (£7,500 per annum), however will be vacant in time for completion.
Flat 3 (middle) with vacant possession is arranged over three floors and requires some minor improvements and in brief comprises, ground floor entrance with staircase, first floor landing, large lounge with opening through to a fitted kitchen with built-in-appliances. To the second floor L-shaped landing there is a double bedroom and shower room.
The property is situated within a strong letting location conveniently positioned for an abundance of amenities all within walking distance. Pride Park and the A52 are both within a short commute.
15ft 7 into chimney recess x 12ft 7
9ft 1 reducing to 5ft 7 x 5ft 6
11ft 9 max x 9ft 6
8ft 9 x 5ft 7
Currently let on an AST producing £625 per calendar month but will be vacant on completion. Auctioneers have not inspected the flat.
9ft 4 x 5ft 3
12ft 6 x 5ft 4
19ft 9 into chimney recess x 13ft 7
8ft 7 x 6ft 8
L-shaped 10ft 3 x 8ft 4 restricted height
10ft 3 x 8ft 4 restricted height
10ft 4 x 4ft 1
Rear yard.
O2, EE, Three and Vodafone are available in this location.
Standard 19 mbps. Superfast 223 mbps. Ultrafast 1000 mbps.
BT and Sky are available in this location.
Solid brick, as built, no insulation (assumed).
Freehold. Part let/part vacant.
- Heating Supply: Electric, Double Glazing
- Electric Supply: Mains Supply
- Water Supply: Mains Supply
- Sewerage Arrangements: Mains Supply
Permit
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 1.2% of the purchase price (subject to a minimum 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.
