House of Multiple Occupation
A 10 bedroom HMO with income of £52,500 per annum.
A substantial three storey property comprising a ten bedroomed, all en-suite, HMO property well situated in a great location close to Derby University campus and city centre.
Full HMO Licence and fully compliant. The property is in excellent order and finished to a high end standard throughout, with modern kitchens, modern bathroom, tasteful décor and benefits from gas central heating, uPVC double glazing and parking.
The total rental income amounts to £52,500 per annum inclusive and therefore offering a
return of over 11% at the current guide price.
A ready made, low maintenance investment with income from day one.
Communal Hallway. Well equipped communal Dining Kitchen. 4 Bedrooms all with En-Suites.
Landing. Communal Kitchen Number two. Three Bedrooms all with En-Suites.
Landing. Three Bedrooms all with En-Suites.
The property has the added benefit of parking to the front.
The completion date as per the special conditions of sale within the legal pack is 1st October 2023. Additionally, the special conditions of sale indicate a higher potential annual rental income of £54,300, subject to two tenants passing referencing. Prospective buyers are advised to make all necessary independent enquiries prior to placing their bid as this will be binding.
Freehold. 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 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.
