Block of Apartments
***HIGH YIELD RESIDENTIAL INVESTMENT***
A superb freehold opportunity to acquire, two spacious three storied semi-detached houses, linked only by fire doors at first and second floors levels, having six large self-contained flats, situated in a strong letting location close to the city centre.
All of the six well-equipped flats are currently let on ASTs producing a combined rental income of £55,800 per annum, this representing an impressive 11.2% return based on the attractive guide price.
Outside the imposing properties are set back from the road. Forecourts with wrought iron railings and an integral narrow garage/lock up. There is pedestrian access to the side leads a recently block paved rear yard with parking for approximately 10 small vehicles. Access is off from Hartington Street via the rear entrance of 116 Osmaston Road.
Communal entrance hall and stairs to first and second floors.
Self-contained one bedroomed gas centrally heated flat. Let at 600 per calendar month (£7,200 per annum).
Self-contained gas centrally heated three bedroomed flat. Let at £1,100 per calendar month (£13,200 per annum).
Self-contained electrically heated two bedroomed flat. Let at £850 per calendar month (£10,200 per annum).
Communal entrance hall and stairs to first and second floors.
Self-contained gas centrally heated one bedroomed flat. Let at £850 per calendar month (£10,200 per annum).
Self-contained electrically heated one bedroomed flat. Let at £600 per calendar month (£7,200 per annum).
Self-contained one bedroomed flat. Let at £650 per calendar month (£7,800 per annum)
Apart from varying numbers of bedrooms, each flat has its own private entrance hall, dining kitchen, large living room, bathroom/wc including shower over bath.
Forecourts with wrought iron railings. Integral narrow garage/lock-up store to 112. Rear yards and gardens.
Freehold. Subject to tenancy.
- Heating Supply: Double Glazing, Electric, Gas Central
- Electric Supply: Mains Supply
- Water Supply: Mains Supply
- Sewerage Arrangements: Mains Supply
Garage, Rear, Off Street
Auction Details
The sale of this property will take place on the stated date by way of Auction Event and is being sold under and Unconditional sale type.
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 1.2% of the purchase price (subject to a minimum 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.
