Block of Apartments
DRAFT DETAILS - Situated within easy reach of the city centre and Intu shopping centre is an imposing late Victorian three storey semi-detached house converted into six self-contained flats with five of the flats currently let and producing approximately £18,660 per annum. In our opinion there is scope for significant rental increase and would anticipate a future rental income in the region of £27,000-£29,000 per annum. If the property was to be let at £28,000 and based on the current guide, it would represent an impressive 16% yield and will surely appeal to local and national landlords.
Internally the character accommodation has the benefit of uPVC double glazing and in brief comprises entrance porch with Minton tiled floor covering, entrance hall and two self-contained studio flats (we have not inspected flat 2). To the first floor landing and second floor landing are four further self-contained studio flats. Outside to the front there is a small forecourt and to the rear an enclosed garden.
The property is situated in the context of an established residential location conveniently positioned for Normanton Road shopping centre and Lara Croft Way. Excellent freehold investment opportunity.
With Minton floor covering.
With moulded covering, original archway, door to cellar and fitted cupboard housing the separate electric meters.
Consists of a bedroom/fitted kitchen with separate en-suite shower room. Let and producing £295 per calendar month.
We did not manage to inspect but we are informed by the letting agent that the accommodation comprises of a bedroom/fitted kitchen with en-suite shower room. Flat is vacant.
Leading to -
Consists of living room/bedroom with separate fitted kitchen and en-suite shower room. Let and producing £300 per calendar month.
Consists of entrance hall, bedroom/living room and with separate en-suite shower room and a separate fitted kitchen. Let and producing £320 per calendar month.
Leading to -
Consists of bedroom/living room with separate fitted kitchen and en-suite shower room. Let and producing £320 per calendar month.
Consisting of separate kitchenette, bedroom/living and en-suite shower room. Let and producing £320 per calendar month.
To the front there is a small forecourt and to the rear an enclosed garden.
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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