Terraced House
An excellent investment opportunity to acquire a well-maintained two bedroomed mid-terraced property with an additional basement flat below providing separate living accommodation. The combined incomes could provide in the region of £8,000 per annum when fully let thus producing a high yield return. The two bedroomed property has the benefit of sealed unit UPVC double glazing and gas central heating and is currently let on an Assured Shorthold Tenancy agreement producing a yearly income of £5,040. In brief the well-maintained living accommodation consists of lounge, fitted kitchen/diner with built in appliances. To the first floor landing there are two good sized bedrooms and a bathroom suite in white. The basement studio flat is in need of improvement and upgrading however does have the benefit of sealed unit UPVC double glazing, gas central heating and consist of a fitted kitchen, lounge, shower room and a large storeroom measuring 11’5’’ x 11’7’’. We are informed by the seller that the basement flat was originally let out at £3,000 per annum. Further to the rear of the property there is a good sized enclosed garden.
This interesting investment property is located on the fringe of Somercotes with amenities at hand and within a short commute of the A52 which provides swift access onto the M1 motorway, the City of Derby and further regional business centres.
In more detail the accommodation comprises:-
Entered by PVC door to front, sealed unit double glazed window in UPVC frame to the front elevation, woodgrain effect laminate floor covering, staircase to first floor and central heating radiator.
With sealed unit double glazed window in UPVC frame to the rear elevation. The fitted kitchen comprises a comprehensive range of wall mounted cupboards with matching base units, drawers, preparation surface, stainless steel sink and drainer with one and a half bowl mixer tap and splashback tiling. Integrated appliances comprises stainless steel electric oven with four ring hob and cooker hood over. Plumbing for automatic washing machine, wall mounted combination boiler, woodgrain effect laminate floor covering and central heating radiator.
With sealed unit double glazed window in UPVC frame to the front elevation, woodgrain effect laminate floor covering and central heating radiator.
With sealed unit double glazed window in UPVC frame to the rear elevation, woodgrain effect laminate floor covering and central heating radiator.
With sealed unit obscure double glazed window in UPVC frame to the rear elevation. A modern three piece bathroom suite in white comprising a panelled bath with mixer tap shower attachment and shower rail, low level w.c. pedestal hand wash basin, complimentary tiling to the walls and central heating radiator.
With sealed unit double glazed window and door to side elevation. The fitted kitchen comprises a range of wall mounted cupboards with matching base units, drawers, preparation surface, stainless steel sink and drainer with splashback tiling. Cooker point, plumbing for washing machine, wall mounted boiler, central heating radiator and opening through to the lounge/bedroom.
With sealed unit double glazed window in UPVC frame and central heating radiator.
Comprises a low level w.c. wall mounted wash hand basin and shower cubicle, complimentary tiling to the walls and extractor fan.
With central heating radiator
To the rear there is a generous sized enclosed garden.
Freehold. Vacant possession upon completion.
Auction Details:
The sale of this property will take place on the stated date by way of Auction Event and is being sold as Unconditional with Fixed Fee.
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 auctioneer’s fee apply:
• 10% deposit (subject to a minimum of £5,000)
• Buyer’s Fee of £1,500 inc. VAT
The Buyer’s 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
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.
