Town House
Gerard Street North is accessed off Macklin Street and is within walking distance of the City centre. The property has undergone a scheme of renovation and improvement and has been rented as student accommodation for many years. It would appear to be compliant with current regulations, and offers gas centrally heated double glazed accommodation with the benefit of a new roof covering.
The house has usually been occupied by six students and has been yielding an annual income of £11,565. It is considered that there is potential for an increase in the yield, although the rent has only been paid in full over 43 weeks, with a summer month retainer. Currently it is understood that there are two student tenants. There are good prospects for a full complement for the next academic year.
In more detail it comprises the following
Entrance Lobby
With uPVC front entrance door and Minton tiled floor.
L-Shaped Entrance Hall
With ornamental arch, stairs off to first floor, central heating radiator, access off to basement.
Letting Room One
Having uPVC double glazed bay window and central heating radiator.
Communal Living Room
With French doors to rear garden and central heating radiator.
Cloaks/WC
With wash basin.
Kitchen
With stainless steel sink, base cupboard and drawer units, full height cupboards, wall mounted central heating boiler.
Timber and Perspex Canopy Rear Entrance Porch
Stairs down to
Basement
Where there are two shower facilities and a separate store room.
Stairs to first floor landing
Letting Room Two
With central heating radiator and store cupboard.
Bathroom
With usual three piece suite of fittings and central heating radiator.
Letting Room Three
With central heating radiator.
Letting Room Four
With central heating radiator.
Enclosed Stairs to Second Floor
And
Two Further Letting Rooms
Both with velux windows and central heating radiators.
Outside
Forecourt with vehicular parking. Enclosed largely surfaced rear garden and having pedestrian rear access.
Directions
From Victoria Street proceed along the Warwick turning left into Beckett Street and continue to the T-junction with Macklin Street. Turn right and immediately left into Gerard Street North and the property will be found on the right hand side.
Vendors Solicitors/Licensed Conveyancers
H. Pipes & Co, 34 Market Place, Melbourne, Derbys DE73 8DS telephone 01332-862113
Tenure
Freehold. Vacant possession on completion.
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 £495 (inc VAT) payable on the fall of the hammer.
For Sale by Auction: Thursday 17th February 2011
At Pride Park Stadium, Derby
Commencing at 11.30 am
RESIDENTIAL INVESTMENT PROPERTY – six occupant student let (currently part vacant)
Situated close to the City centre
Forecourt parking
Gas centrally heated, double glazed accommodation on four floors
