Detached house
A superb opportunity to acquire a fully licensed five bedroomed detached HMO property currently producing a gross figure of circa £24,000 per annum which represents a 15% return on guide price.
In recent years the property has been upgraded to provide well appointed living accommodation throughout with a HMO license granted in 2018 with five years remaining from that date.
Internally the uPVC double glazed, gas centrally heated living accommodation consists of entrance hall, generous sized communal living room, a well appointed fitted kitchen with built in appliances, separate communal dining room with guest wc, good sized double glazed conservatory. Letting room five has its own living room with separate bedroom and shower room. The first floor passaged landing leads to letting room one which is a double sized room with its own en-suite shower room. Letting room two is a double room with its own separate shower room, the same applies for letting room three and letting room four has its own en-suite shower room. The property is set back from the road with driveway providing ample car standing space and to the rear there is a good sized enclosed garden which is mainly lawned and offers potential for a substantial extension subject to the usual planning consents.
Please note the current rental income for the five rooms is £425, £385, £390, £385 and £365 totalling £1,955 per month. This figure includes utility bills.
Please note we are informed by the seller that the property has its own solar panels and generates cash payments of approx £500 annually through the feed in and export tariff, which is unaffected by the amount used. Further information can be obtained from the legal pack.
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.
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