Apartment
An excellent high yielding Buy-To-Let residential investment opportunity to acquire a stylish, purpose built, two bedroomed first floor apartment with allocated parking space, situated within this gated development and located within walking distance of Derby city centre.
The apartment is offered for sale with immediate vacant possession and was previously let at £800 per calendar month (£9,600 per annum). This would represent an impressive 12.8% return based on the current guide price.
Internally there are some minor improvements required, however we are informed by the seller a new Glow Worm combination boiler was installed in March 2023 and is covered by a five-year parts and labour guarantee.
A recommended internal inspection will reveal a secure ground floor communal entrance with stairs. The apartment has the benefit of being uPVC double glazed and gas centrally heated and in brief comprises entrance hallway, large open plan living fitted kitchen with built-in-appliances and views of the nearby church. Located off the hallway are two bedrooms and bathroom with three piece suite in white with shower over.
Parliament Court is approached via an impressive electric gated entrance with block paved communal parking area along with well kept grounds.
The property occupies a popular and strong letting location, conveniently positioned for the fashionable Friar Gate area of Derby, along with the University Campus.
Accessed via secure communal areas with laminate flooring, gas central heating radiator, thermostat controls, entry phone system, doors to bedrooms and open plan living/dining/kitchen area.
A spacious open plan living/dining/kitchen area with laminate flooring and gas central heating radiator, double glazed windows and TV point. The kitchen area comprises of matching modern wall and base units, integrated oven and hob, fridge/freezer, washing machine, extractor hood and stainless steel splashback.
With double glazed window and gas central heating radiator.
With double glazed window and gas central heating radiator.
Fitted with a three piece suite comprising of panelled bath with shower over, low level wc and wash hand basin, part tiling to walls and gas central heating radiator.
Communal gardens and allocated parking space accessed via secure electric gates.
125 years from 1 April 2009. Any ground rent and service charge review periods will be confirmed in the lease documents within the legal pack.
Cavity wall, as built, insulated (assumed) - Information taken from EPC.
Surface Water - Very Low
Standard 16 mbps, Superfast 157 mbps and Ultrafast 1000 mbps show as available in this location
EE, O2, Vodaphone and Three show as available in this location.
Sky and BT show as available in this location.
Leasehold. Vacant possession upon completion.
110
- Heating Supply: Double Glazing, Gas Central
- Electric Supply: Mains Supply
- Water Supply: Mains Supply
- Sewerage Arrangements: Mains Supply
Communal, Gated, Allocated
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.
