Detached House
DRAFT DETAILS ONLY.
Located in the Five Lamps district of Derby, about half a mile north of the City centre, a very fine detached residence which has been divided into six letting units, all self-contained and four with the benefit of their own gas central heating system.
Parking is available at Chevin Road/Chevin Place at rear which comes up to the back of the house. At the time of preparing these particulars, five of the units were let with flat four undergoing some redecoration and refurbishment. The current rent income is £1,775 per calendar month, £21,300 per year but with flat four let, the gross income could be about £25,800.
The property has been in investment use for many years and the flats have been constantly been updated and improved with a succession of tenants.
In brief detail each offers the following accommodation
Ground Floor
Communal Entrance Hall leading to two ground floor flats.
Flat One, gas centrally heated, part double glazed having sitting room, bedroom, inner hallway, bathroom with shower over bath, kitchen.
Flat Two, gas centrally heated and party double glazed having sitting room, bedroom, bathroom, inner hallway and kitchen.
Communal Side Entrance Hall serving flats three – six on first and second floor levels.
First Floor
Flat Three, gas centrally heated having sitting room, bedroom, bathroom, inner hall and kitchen.
Flat Four, currently being refurbished and redecorated having gas centrally heated accommodation comprising entrance lobby, sitting room, bedroom, kitchen and bathroom.
Second Floor – Two studio Flats
Flat Five having a large bed-sitting room (possibilities for division), kitchen and bathroom.
Flat Six having large bed-sitting room, kitchen, bathroom with shower over bath.
Both flats five and six have electric heating.
Outside
Small and readily maintained gardens to front and rear, with footpath access onto Chevin Place where there is on-street unrestricted car parking. Chevin Road/Chevin Place is approached off Belper Road.
Tenancy Details
Five of the six flats are let on assured shorthold agreements, three at £375 pcm and two at £325 pcm, a monthly income of £1,775, or £21,300 per annum. The occupancy of flat four would raise the gross income to about £25,800 p.a.
Vendors Solicitors/Licensed Conveyancers
SGC Solicitors, 25 Derby Road, Long Eaton, Nottingham Ng10 1NA
Tenure
Freehold. Part let; part vacant.
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 26th May 2011
At Pride Park Stadium, Derby
Commencing at 11.30 am
SUPERB RESIDENTIAL INVESTMENT PROPERTY
Six self-contained flats in excellent location
Gross rental yield in excess of £25,000 per annum
Quality accommodation, mostly gas centrally heated
