Terraced House
Spacious accommodation arranged over 3 floors. Fully licensed and compliant with fire alarms and doors etc.
There are a total of 7 letting rooms and each room has its own bath/shower room.
After having substantial works to the interior and exterior of the property over the summer, the property is fully tenanted, benefiting from 100% income upon completion.
All rental agreements are for 12 months, commencing between October and December 2019 - see ASTs in auction pack.
There is potential to increase income further with an additional 1-2 rooms, subject to planning. See diagrams in Building Control approval note in Auction pack
The average room price is £500 PCM and the combined rental income is £42,000 per annum, giving a return of 11%.
The property is well suited to let to both students and professionals due to its proximity to the university and city centre.
In more detail the accommodation comprises;
Lounge/Bedroom
Kitchenette
Shower Room
Rear garden with patio and lawns
Freehold.
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.