Studio flat
High yielding residential investment property.
Offered for sale at a very attractive guide price is this well equipped, third floor, vacant student style flat accommodation set in a beautiful Grade II listed detached property, situated within easy reach of Crookes Valley Park, Universities and Hospital.
Interestingly, this charming detached property has been converted into 109 rooms with clusters of three, five and six bedrooms all with communal facilities. The flat is currently let on an assured shorthold tenancy agreement dated 25 August 2023 to 24 February 2024, producing £520 per calendar month (£3,120 over a 6 month period) to include electric and water, this will represent an impressive 16.9% 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.
In brief, the accommodation consists of ground floor communal entrance with staircase. Flat three can be found on the third floor, comprising of a communal passaged hallway, shared open plan living kitchen area with built-in-appliances, and double bedroom with en-suite shower room.
The property occupies a strong letting location and will surely appeal to local and national investors looking to acquire a potentially high yield residential investment opportunity.
Note: There has been repainting of the unit throughout and repair work to the shower room, since our photographs were taken.
15ft 11 x 13ft 5
10ft 9ft 8
9ft8 x 4ft 6
We are informed by the seller the following:- Ground rent £330 per annum in 2023 Service charge £1255 per annum in 2023. Please see verification in legal pack.
Leasehold. Subject to tenancy.
£330
988
£1,255
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.
Binding contracts of sale will be exchanged at the point of sale.
All sales are subject to SDL Property Auctions Buyers Terms. Properties located in Scotland will be subject to applicable Scottish law.
Auction Deposit and Fees
The following deposits and non- refundable auctioneers fee apply:
• 10% deposit (subject to a minimum of £5,000)
• Buyers Fee of £1,500 inc. VAT
The Buyers Fee does not contribute to the purchase price, however it will be taken into account when calculating the Stamp Duty Land Tax for the property (known as Land and Buildings Transaction Tax for properties located in Scotland), because it forms part of the chargeable consideration for 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 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 (and any applicable Home Report for residential Scottish properties).
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.
