House of Multiple Occupation
Excellent Investment opportunity to acquire a six bedroom HMO. We understand the property is fully let and occupied for the forthcoming 2021/2022 academic year. Producing a gross annual rental income of £32,994 (inclusive of bills), until the summer of 2022.
The property benefits from gas central heating and UPVC double glazing, entrance hallway, communal lounge, fitted kitchen, six bedrooms over three floors, two shower rooms and further separate WC.
Situated within a prime location of Lenton, The University of Nottingham (University Park), Jubilee Campus and The Queens Medical Centre are all within walking distance. There is also a range of excellent transport links close by, including both bus and trams which provide direct access to and from Nottingham City Centre, Beeston Town Centre and other surrounding areas.
The accommodation comprises:
Stairs to first floor landing
13.7 x 11.10 ft<br>Radiator, UPVC double glazed window to front aspect
12.2 x 10.5 ft<br>Radiator, UPVC double glazed window to rear aspect.
10.9 x 10.2 ft<br>Radiator, wall mounted gas boiler, radiator, UPVC double glazed window to side.
14.6 x 10.2 ft<br>Range of wall mounted and base units, roll edge working surfaces, single drainer sink, tiled splashback, plumbing for washing machine, plumbing for dishwasher, space for cooker.
13.9 x 10.1 ft<br>Radiator, UPVC double glazed window to front aspect
12.3 x 10.5 ft<br>Radiator, UPVc double glazed window to rear aspect.
Shower cubicle with shower unit and attachment, low flush wc, pedestal wash hand basin, velux style double glazed window.
Shower Cubicle with shower unit and attatchment, radiator, obscure UPVC double gazed window.
Low Flush WC, wash hand basin.
11.11 x 9.2 into eaves<br>Radiator, velux style double glazed window.
15.1 x 10.5 into eaves<br>Radiator, velux style double glazed window.
Rear yard.
We are informed by the seller -
Rent is inclusive of gas, electricity, water and Virgin Media internet.
Tenancy 01/09/2020 - 31/08/2021. 6 tenants annual rent per tenant £5,499 - last rental payment received 01/05/2021 to 31/08/2021 £1,716.
Tenancy 01/09/2021 - 31/08/2022. 6 tenants annual rent per tenant £5,499.
Freehold. Subject to tenancy.
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 (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.
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 £1074 inc. VAT
The Buyer’s Fee does not contribute to the purchase price and will be considered as part of the chargeable consideration for the property in the calculation of stamp duty liability.
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.
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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