Terraced House
***POTENTIAL HIGH YIELDING INVESTMENT OPPORTUNITY***
Situated within walking distance of the city centre and the University campuses of Derby, is a HMO licensed Victorian property with accommodation arranged over three floors being part let, part vacant and producing an income of £12,300 per annum.
Currently only two of the six rooms are let on periodic tenancy agreements and if the property were to be fully let on the previous tenancy agreements, then this would produce a gross income of £36,624 per annum. This represents an impressive 17.44% return based on the guide price.
Constructed of traditional brick set beneath a pitched tiled roof, the well-equipped living accommodation has the benefit of being uPVC double glazed and gas centrally heated and in brief comprises entrance hall with Minton tiled flooring and original staircase, room 3 (vacant), room 4 let at £500 per calendar month and a large communal dining kitchen with built-in-appliances. To the first floor landing, room 2 is let at £525 per calendar month, rooms and 6 are both vacant. Further to the landing there are two fitted shower rooms and a separate bathroom with three piece suite in white with shower. To the attic is room 1 which is currently vacant.
Outside the property is set nicely back from the road with parking for one vehicle. To the rear there is an enclosed and easy to manage garden. In our opinion there is scope to extend subject, to the usual planning consents.
Freehold. Vacant possession upon completion.
- Heating Supply: Double Glazing, Gas Central
- Electric Supply: Mains Supply
- Water Supply: Mains Supply
- Sewerage Arrangements: Mains Supply
Driveway
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.
.jpg)
.png)