House of Multiple Occupation
This is a well looked after and well maintained spacious three storey student investment property with four double bedrooms offering an income of £24,000 per annum, with potential to increase to £28,800-£32,200 with some alterations to each room by adding en suites to all four bedrooms. The current rental income equates to an annual return of over 13% at the current guide price.
The property has a long letting history and is already let for the 2020-2021 academic year at £500 per room, per month inclusive of bills.
The accommodation benefits from a HMO licence, double glazing, gas central heating and comprises:
Double glazed entrance door into the hallway.
3.95m x 3.05m Double glazed bay window to the front, laminate flooring, radiator.
4.05m x 3.64m Laminate flooring, radiator, double glazed window to the rear.
3.30m x 2.24m (10'10" x 7'4") Double glazed window to the side, wall to base units, tiled flooring, tiled walls, gas point for cooker with extractor fan over, stainless steel sink plus drainer and mixer tap, plumbing for a washing machine, plumbing for a dishwasher and space for a fridge freezer.
Double glazed door to the side.
1.95m x 1.64m Frosted double glazed window, tiled walls, tiled flooring, wash hand basin, bath with shower over, low level w.c and a radiator.
4.06m x 2.96m Double glazed window, pedestal basin, carpeted and a radiator. Leading into the;
2.25m x 2.34m Double glazed window, carpeted and a radiator. Wall mounted boiler.
4.06m x 3.60m Two double glazed windows to the front, laminate flooring and a radiator.
3.96m x 3.18m Velux window, carpeted, radiator and a storage cupboard.
2020/2021: £24,000
2019/2020: £23,400
2018/2019: £21,930
2017/2018: £20,370
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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