Studio flat
An investment opportunity to purchase Room 6 in this stunning converted traditional terrace property.
Located on the doorstep of Leeds University campus, LGI hospital and Leeds Dental Institute. A popular choice for students and young professionals, this makes an excellent ready-made investment opportunity. It is located 0.5 miles North West of Leeds City Centre close to all the shops, restaurants, offices and transport links.
This unit has access to a modern communal kitchen area and has a tenancy agreement in place generating a gross rental income of £5,968 per annum reflecting over a 60% gross yield based on the guide price. (£497.33 pcm rental income)
Please be advised the auctioneer has not personally inspected the property. Prospective buyers are advised to make any necessary independent enquiries before placing their bid, as this will be binding.
Any ground rent and service charge review periods will be confirmed in the lease documents within the legal pack.
Leasehold. Subject to tenancy.
Auction Details
The sale of this property will take place on the stated date by way of Auction Event and is being sold under an 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 fees apply:
• 5% deposit (subject to a minimum of £5,000)
• Buyers Fee of 4.8% of the purchase price (subject to a minimum of £6,000 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.
