House of Multiple Occupation
DRAFT DETAILS
An ideal investment opportunity to acquire a large thirteen bedroom detached HMO located close to the City centre, when fully let the property generates an annual gross income of approx. £60,360 per annum. This would represent a 14.2% return based on the guide price. Prospective buyers are advised to make all necessary independent enquiries prior to placing their bid as this will be binding.
The property benefits from communal areas including lobby, hallway, two separate kitchen, lounge and laundry rooms. There are thirteen bedrooms spread over three floors and benefit from two shower rooms and a good sized bathroom.
Outside, there is off-street parking available.
Derby City centre offers easy access to a full range of amenities including comprehensive shopping facilities along the Corn Market and noted Derbian shopping centre with its major retail outlets and state of the art cinema. Sadler Gate and Iron Gate are both well worth a visit, boasting a selection of up-market clothing outlets together with a selection of cafés bars and public houses and Friar Gate for those who enjoy relaxing and indulging in stylish restaurants and bars.
There are excellent transport links nearby with Derby's inner ring road providing access to the A52 and A38 which in turn link to the M1 and main motorway network. The major trunk roads provide easy access to Nottingham, Stoke On Trent, Burton On Trent and East Midland's International Airport.
Please be advised that whilst our partner agent has conducted an inspection, the auctioneers have not personally inspected the property. Prospective buyers are advised to make a viewing enquiry and any other necessary independent enquiries before placing their bid, as this will be binding.
The vendor has informed us that there is a hairline crack on the outside of the property due to shrinkage of the render. A structural engineers report will be made available within the legal pack and buyers should rely on their own investigations in this respect.
Communal Lobby with staircase to first floor and door to:
9.25m x 4.27m fitted with a good range of appliances.
4.3m x 4.15m fitted kitchen with a range of appliances and a small dining area.
5.26m x 4.5m
4.14m x 3.4m
White suite comprising, low flush W/C, wash hand basin, bath and shower
Low flush w.c, wash hand basin and shower
With disabled W/C and wash hand basin
2.67m x 1.75m
Landing
4.32m x 3.25m
4.32m x 3.25m
4.17m x 4.09m
4.19m x 3.73m
4.27m x 4.06m
4.22m x 4.04m
4.22m x 3.05m
4.19m x 3.2m
Comprising low flush w.c., wash hand basin and shower
4.04m x 3.96m
4.19m x 4.19m
4.19m x 4.19m
To the side and rear of the property there is off-road parking available.
Room 1 - £450
Room 3 - £375
Room 4 - £385
Room 5 - £395
Room 6 - £375
Room 7 - £385
Room 8 - £375
Room 9 - £375
Room 10 - £385
Room 11 - £385
Room 12 - £385
Room 13 - £385
Room 14 - £375
Monthly Income - £5,030
Annual Income - £60,360
Freehold. Subject to tenancy.
Viewings:
To book a viewing, please contact SDL Property Auctions to arrange.
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 through SDL Property Auctions’ website on their home page.
The auction date applicable for the property is displayed underneath the property description. 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) which are available on SDL Property Auctions website.
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 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 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 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 must be paid immediately after a winning bid has been placed. Payment by cash or cheque will not be accepted. Prior to the auction, you will receive an email from the auctioneer to register your card details with 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 a representative of the auctioneer to make payment. If you cannot be contacted within 24 hours after the auction ends, the auctioneer reserves the right to charge your card.
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 SDL Property Auctions website by searching for the property. On the property details page there is a 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.
Registration Process:
To register to bid on the property, visit the SDL Property Auctions website and submit your remote bid. The lot number can be found against the Lot Details of 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.
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