Terraced House
This is an exceptional investment opportunity offering a yield of 16.5% based on the current guide price.
While the property requires modernisation, it features a spacious mid-terrace layout divided into four separate flats, all occupied by long-term tenants at a monthly rent of £550 a total of £2200 per calendar month, funded by the council/government. Conveniently located near The Meadows Recreation Ground, The River Trent, and The Embankment, it is also close to local schools and Nottingham City Centre.
In summary, the property includes an entrance hallway that leads to the first two flats, with an additional flat and two separate bathrooms equipped with white three-piece suites on the first floor. The fourth flat is situated on the second floor, which also contains a separate WC.
Please note all utilities are organised and paid for by the tenants.
Ground floor lounge/bedroom with its own bathroom located on the first floor, benefitting from a white three piece suite.
Ground floor lounge/Bedroom, separate kitchen with access to rear courtyard. Flat two also comes with its own bathroom located on the first floor, benefitting from a white three piece suite.
Second floor lounge/Bedroom benefitting from a shower and kitchenette. Flat three has its own WC located on the second floor.
Third floor lounge/bedroom with kitchenette, benefitting from its own shower room.
To the rear is a small courtyard with further garden space over the rear alley walkway.
Construction Material: Standard brick. Heating: Boiler, mains gas. Coverage: Broadband - Standard, Ultrafast and Superfast is available in this location. Mobile signal - O2, Vodafone, EE and Three show as available. Satellite and Cable - BT, Sky and Virgin show as available in this area.
The house benefits from new, professionally installed interior fire doors throughout the property - installed in May 2024.
Freehold. Subject to tenancy.
- Heating Supply: Double Glazing, Gas Central
- 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.
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