Block of Apartments
DRAFT DETAILS
Six units, each unit comprises a shared kitchen/lounge area and five lettable rooms, all with en suites. Current income is £117,409 per annum, thought suitable for potential increase.
Situated on Edward Street within Sheffield City Centre, conveniently placed for access to both Universities is this this excellent, turnkey investment opportunity comprising six units with each unit offering five lettable rooms. Two units are located on the fourth floor, one on the fifth and the remaining three units are on the sixth floor. Each unit boasts spacious living accommodation, electric radiators and double glazing. The shared living area enjoys excellent views over the city centre, whilst the modern kitchen offers a range of wall, base and drawer units, integrated electric oven with a four ring hob over and extractor hood above. Housing for two fridges, freezer and dishwasher. Each bedroom benefits from an en-suite shower room comprising shower cubicle, WC and wash basin. The building has a fantastic communal area on the ground floor with a games room including a pool table, table tennis, seating and television areas. On site bike storage and washing facilities. Parking spaces on a first come first served basis.
Please be advised that 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.
Length of lease: TBC. Current ground rent: TBC. Ground rent review period: TBC
Current service charge: TBC. Service charge review period: TBC. This information should be clarified in the legal pack and we’ll update the information above when we receive it.
Leasehold. 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 Variable 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 fees apply:
• 5% deposit (subject to a minimum of £5,000)
• Buyer’s Fee of 4.8% of the purchase price for properties sold for up to £250,000, or 3.6% of the purchase price for properties sold for over £250,000 (in all cases, subject to a minimum of £6,000 inc. VAT). For worked examples please refer to the Auction Conduct Guide.
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.
