A superb opportunity to acquire a freehold high yield residential investment property currently producing £17,000 per annum.
Interestingly the property has planning permission granted under application number 20/00904/FUL for a two storey extension to provide two studio rooms. When works are complete we would anticipate a rental income for the two studios of approximately £13,000 per annum. This would then equate to a combined and gross income of £30,000 per annum.
The semi-detached brick built property has the benefit of uPVC double glazing, gas central heating and in brief comprises entrance vestibule, passaged hallway with staircase to first floor, bedroom one with en-suite shower room, a communal lounge with a cast iron multi burner, fitted breakfast kitchen room with lean-to. To the first floor the passaged landing leads to the front bedroom with an en-suite shower room, two further bedrooms and a separate shower room. Outside to the front there is a small forecourt and an adjacent driveway leads to a single detached garage and to the rear an enclosed low maintenance garden.
The property is situated in the context of an established residential location conveniently positioned for Pride Park, Rolls-Royce and the city centre.
Leading to -
With radiator and staircase to first floor.
With uPVC double glazed window and central heating radiator. Modern fitted En-Suite Shower Room with low level wc, wash hand basin and tiling. This bedroom is let on an assured shorthold tenancy agreement at £375 per calendar month (£4,500 per annum).
With uPVC double glazed window, cast iron multi burner, central heating radiator, useful understair storage cupboard.
With uPVC double glazed window to the side. Fitted kitchen with wall mounted combination boiler and built in oven.
With vent for tumble dryer and space for fridge.
With central heating radiator.
With uPVC double glazed window to the front elevation and central heating radiator. En-Suite Shower Room with low level wc, wash hand basin, central heating radiator and tiling to walls. This bedroom is let on an assured shorthold tenancy agreement at £415 per calendar month (£4,980 per annum).
With uPVC double glazed window and central heating radiator. This bedroom is let on an assured shorthold tenancy agreement at £350 per calendar month (£4,200 per annum).
With uPVC double glazed window to the rear elevation and central heating radiator. This bedroom is let on an assured shorthold tenancy agreement at £280 per calendar month (£3,360 per annum).
With a low level wc, wash hand basin, central heating radiator and obscure uPVC double glazed window to the side elevation.
The combined gross income of the four rooms is £17,040 per annum.
To the front of the property there is a small fore court with an adjacent driveway leading to the single detached garage and with access leading through to an enclosed low maintenance rear garden.
Freehold. Subject to tenancy.
The auction for this property will take place as an “Auction Event” behind closed doors with a live auctioneer and will be streamed online in real-time. The property will be sold alongside several other lots. Bids must be placed remotely- please see the below section on “Registration Process”.
The auction can be watched in real-time on the auction date on our home page: https://www.sdlauctions.co.uk/
The auction date applicable for the property is displayed on this page. It is not possible to provide a precise timeslot when this property will be auctioned on the day, because there are other lots being sold.
You are required to undertake identity checks before you can be authorised to bid. You must also provide your payment details. If you do not provide this information, your registration will not be processed.
When you place your bid, you are deemed to have agreed to SDL Property Auctions’ Buyers Terms (England & Wales).
Auction Type – Unconditional with Fixed Fee
If you are the highest bidder, you must exchange legally binding contracts for the sale when the auction for the property comes to an end. You must then pay the applicable fees and deposit. You must complete the sale within 20 business days unless the Special Conditions of Sale contained within the Legal Pack state otherwise.
The following standard non-refundable fees apply:
- Buyer’s Fee- payable on exchange of contracts. This is usually £1074 including VAT, subject to the Special Conditions of Sale. This fee does not contribute towards the purchase price of 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 Special Conditions carefully before bidding. Any additional fees are included at the seller’s discretion, not on the instruction of SDL Property Auctions, and will be in addition to any fees payable to us. SDL Property Auctions has limited control over the content of the Special Conditions of Sale.
On exchange of contracts, you must pay a non-refundable deposit equal to 10% of the actual purchase price of the property, subject to a minimum of £5,000. The deposit contributes towards the purchase price.
Applicable fees/deposit must be paid immediately after a winning bid has been placed. We do not accept payment by cash or cheque. Prior to the auction, we will email you to register your card details with our third-party provider, Stripe. Your card details will be stored on their secure online payment platform. Payment will only be taken from you in the event of a winning bid. In this case, you will be contacted by one of our representatives to make payment. If we cannot make contact with you within 24 hours after the auction ends, we reserve the right to charge your card if you do not respond to this email.
Before bidding, you must view the legal pack for the property. This is the collection of legal documents that apply to the sale. The documents will include but are not limited to: Special Conditions of Sale, title documents from the Land Registry and Energy Performance Certificate.
The legal pack can be viewed on this page, under the sub-heading “Legal Packs”. Follow this link, and you will then be directed to create an account with Auction Passport to view the documents.
The legal pack can change at any time up until the auction starts so you must check for the most recent version of the legal pack. An addendum may be issued outlining any late changes. At the point of placing your bid, you are deemed to have read the legal pack in its entirety, including any changes. Failure to check for changes to the legal pack will not be a valid reason for withdrawing from the sale.
It is strongly recommended that you instruct a qualified professional to review the legal pack and raise any necessary enquiries before bidding.
Special Conditions of Sale
The property is sold subject to any Special Conditions of Sale. These are contractual conditions that are included by the seller of the property – they are not part of SDL Property Auctions’ terms and conditions. The Special Conditions of Sale are legally binding. You are taken to have read and accepted these at the point of bidding, even if you have not done so. The Special Conditions of Sale are available to read in the legal pack.
Energy Performance Certificate
The EPC for this property can be viewed in full at the top of this page or in the legal pack.
T To register to bid on the property, you must submit your remote bid here: https://www.sdlauctions.co.uk/remote-telephone-proxy-bidding/. There is also a link to register on the property details page, where you will also be able to find the lot number for the property. Prospective buyers must register no later than 12pm the day before the auction date. If you register after the cut off, it cannot be guaranteed that your registration will be processed.
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.