Semi-detached house
A six bedroomed freehold property previously used as a student house share. The property offers plenty of potential with an estimated income of £30,000 per annum, which would represent a superb yield in the region of 16%+ at the current guide price, if kept as a student house. There is potential for the property to be turned back in to a family home, and it also offers other investment opportunities for the new owner to explore.
The property comprises three bedrooms, shower room with separate wc as well as a kitchen/living/dining area leading in to a reception room to the ground floor. Upstairs there are a further three bedrooms and a bathroom. Outside there is a very large rear garden (approx. 35m long).
Excellent investment opportunity.
The property is situated within the city of Canterbury, being within easy access of the High Street and all its amenities. These include an excellent modern shopping centre, the University of Kent, Canterbury Christ Church University and other colleges, together with an excellent choice of schools in both the public and private sectors. In addition to the High Street is the Kings Mile, which is a lovely mall of boutique style shops, cafes, eateries and public houses.
Sporting and recreational opportunities nearby include: golf at Scotland Hills, Canterbury, sailing at Whitstable Yacht Club and Herne Bay, county cricket at Canterbury and day trips to France via Eurotunnel, all within easy access. In addition, the recently refurbished Marlowe Theatre, the spectacular Beaney House of Art & Knowledge and the Gulbenkian (theatre, cinema and café bar) at the University of Kent, all provide a wealth of excellent entertainment in Canterbury.
Canterbury has two mainline railway stations, with Canterbury West offering the high speed service to London (St Pancras 56 mins). The property is also within easy access of the A2 dual carriageway, which in turn links to the Channel Port of Dover and Brenley Corner at Faversham, adjoining the M2 / A299 (Thanet Way) linking London and the coastal towns respectively. Ashford International (15.4 miles, London St Pancras 38 mins) which also has services to the continent via Eurostar (Paris 1 hr 52 mins) or via Eurotunnel at Cheriton (19.3 miles, Calais 35 mins).
We are informed by the seller that the property benefits from an HMO licence which doesn’t expire until December 2023.
The six bedrooms previously generated and income of circa £2,600 per month – student rental (approx. £30,000 per annum) and was successfully rented to Canterbury students for approx. 10 years.
The property is being sold because of relocation, due to death in the family.
Vacant
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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