House of Multiple Occupation
An excellent opportunity to acquire a spacious end-terraced property converted into an extra large four bedroomed HMO property all with en-suite shower rooms and situated within easy reach of Pride Park, Rolls Royce and Bombardier.
The combined income is currently £19,560 per annum and based on the guide price this represents an impressive 15.6% return which will surely appeal to investors locally and nationally.
We are informed by the seller that the property benefits from a Worcester boiler, Hive heating controls, has fire doors and hard wired smoke alarms, has EICR Certification until 05/08/2022 and Gas Safety until 28/02/2021. All the rooms have been let for the last 6 years.
Internally the double glazed, gas centrally heated living accommodation consists of entrance vestibule, passaged hallway with staircase to first floor, breakfast bar, communal fitted kitchen with built in appliances. There are two ground floor double bedrooms both with furniture and well equipped en-suite shower rooms and this also applies to the first floor accommodation. Outside to the front there is a small fore court which is screened by a tall boundary hedge and to the rear an enclosed garden.
The property is situated in the context of an established residential location positioned along the London Road which is one of the main arterial roads into the city centre with regular bus service. Excellent freehold residential investment opportunity.
Leading into -
With stairs to first floor.
Fitted with a range of wall and base units with built in appliances.
With double glazed window, central heating radiator and fitted En-Suite Shower Room. This room is currently let at £400 per calendar month (£4,800 per annum).
With double glazed window to rear elevation, central heating radiator and a large fitted En-Suite Shower Room. This room is currently let at £400 per calendar month (£4,800 per annum).
Leading to -
With double glazed window to rear elevation, central heating radiator and En-Suite Bathroom with shower. This room is let at £430 per calendar month (£5,160 per annum).
With uPVC double glazed window to the front elevation, central heating radiator and fitted En-Suite Shower Room. This room is let at £400 per calendar month (£4,800 per annum).
The combined total income for the property is currently at £19,560 per annum.
To the front there is a small fore court with a tall boundary hedge which offers a certain degree of privacy and to the rear an enclosed established garden.
The internal photographs have been supplied by the seller and were taken at point of marketing the rooms.
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.
