Town House
Located almost at the Osmaston Road end of Charnwood Street, within a short walk of the City centre, an opportunity to acquire a continuously maintained an refurbished three storied Victorian semi detached house, long since divided into five letting units and providing and excellent high yield investment. To its advantage, there is parking for four vehicles at the rear via a shared driveway with number 36.
The flats are let on assured shorthold agreements at a reserved rent of £360 per week (£18,720 per annum). It is considered that there is scope for increase in the rental yield.
In more detail the accommodation comprises
Communal Front Entrance Lobby and Entrance Hallway
With access off to Cellar.
Rear Hall
With store cupboard.
Flat One
Having sitting room with kitchen area, bedroom, shower room/wc.
Studio Flat Five
Having bed-sitting room, separate kitchen, shower room and separate wc.
Stairs to First Floor Landing
Flat Two
Having entrance lobby, bed-sitting room, kitchen and shower/wc.
Flat Three
Having sitting room with bay window, kitchen off, separate bedroom, shower room/wc.
Stairs to Second Floor and
Flat Four
Having entrance lobby, sitting room, dining kitchen, separate bedroom, bathroom/wc.
Outside
Small frontage garden area. Shared side drive leading to rear and parking for about four vehicles. Attached at the rear of the property is a Laundry Room for communal use.
Tenancy Details
At the time of preparation of these particulars, three of the five flats were let, the vacant two undergoing a scheme of refurbishment. It is anticipated that by the time of the auction all five will be occupied in which case the property will derive a gross income of £18,720 but it is considered that there is scope for a fairly significant increase in the rental yield. Currently the three one bedroomed flats are let £80 per week each, and the two studio flats at £60 per week each.
Vendors Solicitors/Licensed Conveyancers
John M. Lewis & Co, 92 St. Peter's Street, Derby DE1 1SR telephone 01332-292204
Tenure
Freehold. Subject to tenancies.
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 9TH FEBRUARY 2012
AT PRIDE PARK STADIUM, DERBY
COMMENCING AT 11.30 AM
EXCELLENT RESIDENTIAL INVESTMENT PROPERTY
Five self-contained flats together with rear parking
Located on fringe of City centre
Good quality accommodation throughout
