Detached House
Well located a short drive from Nottingham City centre on the Melton Road, a pair of three storied Victorian semi detached houses which are self-contained but have been run as a combined investment property for a great many years. Each house contains three self-contained one bedroomed flats with individual central heating systems, and are well let – five on assured shorthold agreements and one subject to a regulated tenancy.
The current reserved rent is £2,240 per calendar month, £26,880 per annum, but it is considered that there is scope for increase in the rental yield.
Demand for such letting units is strong in the area and the vendors have never experienced significant voids. The houses are not connected internally and could revert to individual residences if desired. All the ground around the properties is tarmac'd for parking and there is a brick built detached garage.
In more detail the accommodation is as follows:
92 MELTON ROAD
Flat One: Ground Floor having a private entrance, living room, kitchen, bedroom, bathroom and utility room.
Flat Three: First Floor Flat having living room, bedroom, kitchen, bathroom and office.
Flat Five: Second Floor Flat having kitchen, bedroom, living room and bathroom.
94 MELTON ROAD
Flat Two: Ground Floor Flat having a private entrance, living room, kitchen, bedroom, bathroom and utility room.
Flat Four: First Floor Flat having living room, bedroom, kitchen, bathroom and office.
Flat Six: Second Floor Flat having kitchen, bedroom, living room and bathroom.
Outside
The property ahs two drive entrances and the grounds (former gardens) are all surfaced for numerous vehicle parking. There is also a brick built detached garage. Space exists for further garaging if desired.
Letting Details
The flats are all let, currently on rents ranging from £300 per calendar month to £420 per calendar month. Five are let on assured shortholds and Flat Four is subject to a regulated tenancy with the rent subject to rent registration.
Vendors Solicitors/Licensed Conveyancers
SGC, 25 Derby Road, Long Eaton, Nottingham telephone 0115 849 0000
Tenure
Freehold. Subject to tenancies.
Conditions Of Sale
The Conditions of Sale will be deposited at the offices of the auctioneers and vendors solicitors/licensed conveyancers seven days prior to sale and the purchaser shall be deemed to have knowledge of same whether inspected or not. Any questions relating to them must be raised prior to 11.30 am. Prospective purchasers are advised to check with the auctioneers before the sale that the property is neither sold or withdrawn.
The purchaser will also be deemed to have read and understood the auction conduct notes printed within the sale catalogue.
Note
Prospective purchasers will need to register within the auction room before the sale commences. Two items of identity will be required together with an indication of how a contractual deposit will be paid. We do not take cash or credit card deposits.
The sale of each lot is subject to a buyers contract handling fee of £395 (inc VAT) payable on the fall of the hammer.
For Sale by Auction: Thursday 14th October 2010
At Pride Park Stadium, Derby
Commencing at 11.30 am
EXCELLENT HIGH YIELD INVESTMENT PROPERTY
Two substantial Victorian semi detached houses converted into flats
Six letting units, all self-contained and with parking
Good, prominent location facing tennis courts and close to City
