Block of Apartments
DRAFT DETAILS
An investment property/development with a long history of successful letting and with proof of legal selective Licenses, when fully let it was getting a net annual income of £16,800.
We are informed that flats 1 and 3 are unoccupied and the tenant of flat 2 is due to vacate prior to completion. Flat 4 will be sold subject to tenancy producing an income of £350 pcm (£4,200 per annum).
The property has been maintained to a good standard and offers spacious accommodation of 4 self-contained Studio apartments that have always let well, the property also comes with an electric double garage for off road parking.
The property comprises of a communal entrance hall with 3 studio apartments in the main building and 1 studio apartment to the side extension.
All contain a good size living space with separate bathrooms and kitchens, with electric storage heating and double glazing, tenants are responsible for their own bills, all apartments have there own meters and fuse boards.
The property is ideally situated for students and working professionals attending the University of Nottingham, within walking distance of the University Park Campus, Jubilee Campus and Queen Medical Centre.
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.
.jpg){kind=logo}
