Town House
Situated a short distance from Alvaston neighbourhood centre with its ample range of shopping and other facilities, an opportunity to acquire a large town house which has been divided into three flats and has been used as an investment property for many years.
Total refurbishment was carried out a few years ago to include a new damp proof course under guarantee, rewiring, fire alarm system, new PVC windows, fire resistant plaster boarding to ceiling and certain walls, reproofing, new guttering and soffats, block paved driveway to front, and general refitting.
Although with scope for increase, the current gross annual rent is £10,836 from the three flats all of which are let under assured shorthold agreements.
In more detail it comprises
Communal Entrance Lobby and Hallway
Ground Floor Flat One
Having sitting room with bay window, separate bedroom, dining kitchen, rear entrance lobby, bathroom with shower and wc.
First Floor Flat Two
Having living room, kitchen, shower room/wc and bedroom.
Flat Three (over first and second floors)
Having kitchen, sitting room, bedroom and shower room/wc.
Externally
The property has an open paved forecourt for parking. There is an enclosed part surfaced rear garden.
Tenancy Details
Flat A is occupied at a rent of £323 per four weeks, £3,876 p.a.
Flat B is occupied at a rent of £290 per four weeks, £3,480 p.a.
Flat C is occupied at a rent of £290 per four weeks, £3,480 p.a.
Total Income £903 per four weeks or £10,836 per annum.
Directions
Leave Derby City centre along London Road passing through Wilmorton and eventually entering into the Alvaston area. Just before reaching the shopping area 1174 will be found on the right hand side, opposite Hollis Street where parking is available.
Vendors Solicitors/Licensed Conveyancers
Underwood & Vinecombe, Telford House, Outrams Wharf, Little Eaton, Derby DE21 5EL telephone 01332-836666
Tenure
Freehold. Vacant possession on completion.
Conditions Of Sale
The Conditions of Sale will be deposited at the offices of the auctioneers and vendors solicitors/licensed conveyancers seven days prior to sale and the purchaser shall be deemed to have knowledge of same whether inspected or not. Any questions relating to them must be raised prior to 11.30 am. Prospective purchasers are advised to check with the auctioneers before the sale that the property is neither sold or withdrawn.
The purchaser will also be deemed to have read and understood the auction conduct notes printed within the sale catalogue.
Note
Prospective purchasers will need to register within the auction room before the sale commences. Two items of identity will be required together with an indication of how a contractual deposit will be paid. We do not take cash or credit card deposits.
The sale of each lot is subject to a buyers contract handling fee of £495 (inc VAT) payable on the fall of the hammer.
For Sale by Auction: Thursday 7th July 2011
At Pride Park Stadium, Derby
Commencing at 11.30 am
RESIDENTIAL INVESTMENT PROPERTY
Large town house divided into three self-contained flats
All double glazed, gas centrally heated and with separate services
Current gross annual rent, £10,836 p.a.
