Terraced House
***HIGH YIELDING FREEHOLD RESIDENTIAL INVESTMENT***
Located just off the popular and fashionable Friar Gate area, close to the city centre and Derby University Campus, is a former public house, converted into two very well-equipped self contained apartments, when fully let producing a combined gross rental income of £39,600pa when fully let, this representing an impressive 14.4% return based on the guide price.
Internally the uPVC double glazed and gas centrally heated accommodation in brief comprises:- Ground floor communal entrance hall providing access to both flats. The ground floor flats has a large L-shaped open plan living kitchen dining, four well proportioned bedrooms and two fitted shower rooms. To the first floor galleried style landing leads to three double bedrooms, fitted dining kitchen with built-in-appliances and shower room. Outside to the rear there is an enclosed low maintenance garden.
Please note: The tenancy agreements are all held on individual agreements per room on assured shorthold tenancy agreements.
The property is situated within a quiet and established residential location, always a popular choice with landlords, investors and home owner occupiers.
Room One - £495pcm (£5,940 per annum)<br>Room Two - £475pcm (£5,700 per annum)<br>Room Three - £400pcm (£4,800 per annum)<br>Room Four - £475pcm (£5,700 per annum)
Room One - Vacant (previously let at £485pcm)<br>Room Two - Vacant (previously let at £485pcm)<br>Room Three - £485pcm (£5,820 per annum)
Freehold. Part let/part vacant.
- Heating Supply: Double Glazing, Gas Central
- Electric Supply: Mains Supply
- Water Supply: Mains Supply
- Sewerage Arrangements: Mains Supply
Permit
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.
