House of Multiple Occupation
Situated within literally yards of the fashionable Friar Gate area and the city centre is a recently refurbished a six bedroomed, four bathroomed three storied fully licensed HMO property. The combined rental income is £28,548 per annum and this represents a very respectable 15% return based on the guide price.
The current owners have recently renovated the property to include hard-wire fire alarm, fire doors, emergency lighting with protected means of escape and is double glazed and gas centrally heated.
The auctioneers have not inspected the property but believe the living accommodation to comprise of ground floor hallway (with fire alarm control panel), double bedroom with en-suite shower room, a communal lounge/dining fitted kitchen with built in appliances and access to the rear yard (with secure cycle store) and secure gated access onto Friary Street. To the first floor landing there are two double bedrooms, a well equipped shared bathroom with shower and a further double bedroom with en-suite shower room. There is a staircase leading to the attic room where there are two double bedrooms and a shared bathroom.
We are advised by the seller that house is of historic interest to the Debt Civic Society, having been servants quarters to the house that became the Friary Hotel.
Ground Floor - Double with Ensuite - £433 per calendar month
First Floor - Double - currently vacant usually £368 pcm
First Floor - Double - £390 per calendar month
First Floor - Bedroom with Ensuite - £430 per calendar month
Second Floor - Double - £368 per calendar month
Second Floor - Double - £368 per calendar month
The property is double glazed throughout with emergency access to windows to upper storeys, composite front door, boiler and heating system, new carpets installed in 2020 and the property is fully furnished throughout.
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 Variable Fee (England and Wales).
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 fees apply:
- 5% deposit (subject to a minimum of £5,000)
- Buyer’s Fee of 4.8% of the purchase price for properties sold for up to £250,000, or 3.6% of the purchase price for properties sold for over £250,000 (in all cases, subject to a minimum of £6,000 inc. VAT). For worked examples please refer to the Auction Conduct Guide.
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 Price
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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