Terraced House
***High yielding freehold residential investment opportunity***
Occupying a strong letting location close to the Royal Derby Hospital, is an imposing three storey, high yielding property, situated close to the Derby University Campus, the city centre, and the A38.
Currently four of the five units are let on assured shorthold tenancy agreements producing a combined gross rent of £26,940 per annum. If unit 1 were let on its asking price rent of £5,700 per annum, fully let the property would be producing a gross combined rental income of £32,640 per annum. This represents an impressive 14.5% return based on the guide price.
Constructed of traditional brick set beneath a pitched tiled roof, the mostly gas centrally heated and uPVC double glazed living accommodation in brief comprises of communal entrance hall, flat 1 studio, flat 2 - the auctioneer has not inspected. To the first floor floor landing, flat 3 studio, flat 5 one bedroomed self contained flat and to the top floor there is a generous sized one bedroomed penthouse apartment.
The property is set back from the road with a fore garden. To the rear there is an open yard with access from off Rowditch Place. Pedestrian access from the side leads to the front door of the property.
Comprising -
19ft 3 x 5ft 3
Please Note - This flat is Vacant. Having accommodation consisting of -
17ft 6 into bay x 12ft7 into chimney recess
8ft x 2ft 5
The auctioneers have been unable to inspect. The flat is let on an Assured Shorthold Tenancy producing £450 per calendar month (£5,400 per annum).
Giving access to -
The flat is let on an Assured Shorthold Tenancy at £550 per calendar month (£6,600 per annum). The flat comprises -
17ft 2 max x 14ft
11ft 6 x 7ft 2
7ft 3 x 3ft 4max
7ft 1 x 2ft 7
The flat is let on an Assured Shorthold Agreement at £595 per calendar month (£7,140 per annum). The accommodation consists of -
7ft 6 x 2ft 9
11ft 3 into chimney recess x 15ft 4
11ft 2 x 9ft 5
13ft into chimney recess x 14ft 2
8ft 7 x 2ft 5
Giving access to -
The apartment is let on an Assured Shorthold Agreement at £650 per calendar month (£7,800 per annum). The accommodation consists of -
20ft restricted height x 5ft 4
5ft 3 x 2ft 6
6ft 5 x 2ft 8
13ft 2 into chimney recess x 10ft 3
15ft 5 x 14ft 2
Rivers and Seas - Very low. Surface Water - Very low.
Solid brick, as built, no insulation (assumed) - Information taken from EPC.
Standard 9 mbps, Superfast 219 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.
Freehold. Subject to tenancy.
- Electric Supply: Mains Supply
- Water Supply: Mains Supply
- Sewerage Arrangements: Mains Supply
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.
