Investment Property
Draft Details Only- Awaiting Vendor Approval
Norfolk Gardens is located on the corner of Duffield Road and Beech Drive and forms a purpose built block of flats within several buildings, and with limited on-site parking. the availability of these six lock-up garages represents an excellent opportunity to acquire a low cost investment, where a strong demand for garaging exists.
At the time of preparing these particulars, five of the garages were let, on written agreements at £35 per calendar month each (£2,100 per annum) - with combined full income at over £2,500. The garages have been managed through Stuart Smith & Co Letting Agents.
Partially enclosed, and situated under areas of terracing, the garages are numbered F, G, H, J, K & L, and lie within a small courtyard.
It is understood that the tenure is leasehold - until 2125 - at a ground rent of £50 p.a.
Directions
From the City centre take the Duffield Road northwards, eventually turning left into Beech Drive just before the Broadway roundabout. Turn almost immediately right into Norfolk Gardens complex, following the drive round to the right behind the main building, and then turning right again into a semi-enclosed courtyard where the garages will be found ahead and to the right hand side (numbered F, G, H, J, K & L).
Tenure
Leasehold. Part let; part vacant.
Conditions Of Sale
The Conditions of Sale will be deposited at the offices of the auctioneers and vendors solicitors/licensed conveyancers seven days prior to sale and the purchaser shall be deemed to have knowledge of same whether inspected or not. Any questions relating to them must be raised prior to 11.30 am. Prospective purchasers are advised to check with the auctioneers before the sale that the property is neither sold or withdrawn.
The purchaser will also be deemed to have read and understood the auction conduct notes printed within the sale catalogue.
Note
Prospective purchasers will need to register within the auction room before the sale commences. Two items of identity will be required together with an indication of how a contractual deposit will be paid. We do not take cash or credit card deposits.
The sale of each lot is subject to a contract documentation charge of £250 (inc VAT) payable on the fall of the hammer.
For Sale by Auction: Thursday 21st May 2009
At Pride Park Stadium, Derby
Commencing at 11.30 am
Low cost investment opportunity!
Six individual lock-up garages within flat complex
Good residential location
Probable scope for rental increase
