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Register to bid in our upcoming National Property Auction here

158 Uttoxeter New Road, Derby, Derbyshire DE22 3JB

Lot no: 62 Available
 

Guide Price £200,000+ plus fees

Unconditional with Fixed FeeOn the fall of the hammer, the successful bidder will be legally bound to purchase the property. The successful bidder must immediately exchange contracts and pay a 10% deposit (subject to a minimum of £5,000), along with a non-refundable Buyer’s Fee. The Buyer’s Fee is £1074, and completion must take place within 15 business days, unless the Special Conditions of Sale state otherwise.

Thursday 31st March 2022

10.00am
Key Features
  • HMO property
  • Six bedrooms
  • Let at £27,360 per annum inc.
  • Three bathrooms
  • Great location
  • Excellent investment with high yield
  • EPC Rating: D
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Available

House of Multiple Occupation

Property Description:

A large three storey villa arranged as a six bedroomed HMO. The property is in good order throughout and offers excellent room sizes with six double bedrooms along with spacious communal lounge and kitchen and three shower rooms.

Situated in a prime student letting location on Uttoxeter New Road with easy access to Derby University and the bars and restaurants in the city centre.

The property has an excellent letting history and is offered fully let at £27,360 per annum inclusive of bills.

Nicholas Humphreys have let the property for numerous years and are happy to continue to do so if required.

A superb investment opportunity with income from day one and a gross return of over 13% based on the guide price.

Letting history:

2010-11 - £20,280 per annum(52 week contract)

2011-12 - £21,528 per annum(52 week contract)

2012-13 - £21,528 per annum(52 week contract)

2013-14 - £23,400 per annum(52 week contract)

2014-15 - £23,400 per annum(52 week contract)

2015-16 - £21,600 per annum(48 week contract)

2016-17 - £21,888 per annum(48 week contract)

2017-18 - £22,752 per annum(48 week contract)

2018-19 - £27,936 per annum INC (48 week contract)

2019-20 - £28,512 per annum INC (48 week contract)

2020-21 - £16,250 per annum(48 week contract) *Due to Coronavirus

2021-22 - £27,360 per annum INC (48 week contract)

Ground Floor

Reception Hallway <br>Communal Lounge<br>Communal Kitchen <br>Bedroom One

First Floor

Landing<br>Bedroom Two<br>Bedroom Three<br>Shower Room One<br>Shower Room Two<br>Shower Room Three

Second Floor

Bedroom Four<br>Bedroom Five<br>Bedroom Six

Outside

Tarmac fore court with potential parking for two small cars.

Note

Buyers are to note that the sale of this lot will include the whole of the freehold subject to the the AST (first and second floors only) and also subject to the lease for 158b (ground floor and garden) plus the leasehold of 158 (first and second floors only).

Tenure:

Leasehold. Subject to tenancy.


Auction Method:

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 15 business days unless the Special Conditions of Sale contained within the Legal Pack state otherwise.

Auction Fees

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.

Deposit

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.

Payment Method:

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.

Legal Pack

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.

Registration Process:

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.