Residential Development
DRAFT DETAILS - AWAITING APPROVAL
A freehold development opportunity to acquire a site with planning permission for the approval of a two storey 24 bedroomed property all with en-suites, situated within walking distance of the Royal Derby Hospital.
Planning has been approved by DCC under application no: 22/00131/VAR for change of use from office (Use Class A2) and extensions and alterations to provide five flats in multiple occupation (Use Class C4) with a combined total of 24 bedrooms with associated parking.
Once the property has been completed to a high standard finish, the seller has indicated that we would anticipate a gross rental income of £170,000 per annum, this will surely appeal to investors locally and nationally.
The property/site occupies a popular and established residential location conveniently positioned for the inner ring road, A38 and the city centre.
Please be advised that the auctioneers have not personally inspected the property/site. It may be suitable for alternative uses, subject to obtaining the necessary consents. Prospective buyers must make all necessary independent enquiries in this respect for their specific, intended use prior to placing their bid, as this will be binding.
Freehold. Vacant possession upon completion.
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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