6th December 2019
Four in a row could be a lucky investment at Friday 13th property auction
Why buy just one property when you can get four in a row?
Auctioneers SDL Auctions Graham Penny have highlighted the sale of four adjoining properties close to Derby city centre as the ideal opportunity to create or grow a rental portfolio in one fell swoop.
The four two bedroomed town houses in Cromwell Road will be sold at SDL Auctions Graham Penny’s final Derby auction of the year at Pride Park Stadium on Friday 13 December.
Robert Stone, head of auctions East Midlands at SDL Auctions Graham Penny, said: “The date may be seen as unlucky by some but it will be an auspicious day for the winning bidders, especially if these properties are all snapped up by the same person.
“There are many advantages to owning properties situated close together, particularly from a maintenance point of view, and these are literally next door to each other. They are all tenanted, too, which is another advantage; it means that not only are they ‘rental ready’ but you can hit the ground running and start earning an income from the properties as soon as the sale completes in January.”
The four freehold properties each have a *guide price of £65,000+ and are very similar, with gas central heating, uPVC double glazing and neutral décor throughout. The ground floor of each property features a kitchen diner with built-in appliances and a rear sitting room with patio doors leading out onto the garden. Upstairs the landing leads to two well proportioned bedrooms and a bathroom with a three-piece suite.
At the back of each property is a small fenced low-maintenance garden with patio plus an allocated space in the communal parking area.
Each house is currently let at £450 per calendar month under various agreements.
The properties are:
• 40 Cromwell Road in Derby, a mid-terraced property with a guide price of £65,000+. It is currently let to Derventio Housing Trust on a rolling agreement and can be served with vacant possession.
• 42 Cromwell Road in Derby, an end-terrace which has a guide price of £65,000+, and is currently let to Derventio Housing Trust until April 2021.
• 44 Cromwell Road in Derby, an end-terrace with a guide price of £65,000+ which is let to Derventio Housing Trust on a rolling agreement and can be served with vacant possession.
• 46 Cromwell Road in Derby, a mid-terrace with a guide price of £65,000+, which is let to Derby Property Services on a six-month assured tenancy agreement.
Robert added: “These are all cracking properties which are well-maintained and in a great location which is popular with renters and within easy reach of the Intu Shopping Centre and the city centre. A great investment, whether they go to one or more buyers.”
The properties are among 42 lots which are going under the hammer in the final auction of the year at Pride Park Stadium in Derby on Friday 13 December. For more information about any of the lots, or for details of bidding by telephone, online or by proxy, please visit click here