Apartment
A potential investment representing a 19.1% yield against the guide price with the property ready to let instantly(based on comparable evidence). An estimated rental income of £700 per calendar month can be expected and is ideal for professionals working within the city. Prospective buyers are advised to make all necessary independent enquiries prior to placing their bid as this will be binding.
A fantastic two bedroom fifth floor apartment located the heart of Derby City Centre. The entrance hall provides access to all accommodation which boasts open plan lounge/kitchen having a range of wall and base units, integrated cooker, hob. The kitchen is also fitted with integrated fridge/freezer, washer/dryer, dishwasher, waste disposal unit(all included in the sale) and double doors to the veranda overlooking Derby City. Two bedrooms with the master also having doubles doors to the veranda. The family bathroom includes a white three piece suite with shower over the bath.
Length of the lease: 125 years from September 2006. Current ground rent and any review period: £199.10 per annum and 10 year review period. Any further information will be confirmed in the lease documents within the legal pack.
EWS1 will be provided in legal pack and the management company are planning to replace balcony material. Prospective buyers are advised to make all necessary independent enquiries prior to placing their bid as this will be binding.
Leasehold. 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.
