Town House
DRAFT DETAILS ONLY.
An imposing Victorian town house with three floor accommodation which has been divided into six letting units, four of which were occupied at the time of preparation of these particulars.
The property is situated close to the City centre in an area where many of the adjoining properties have been converted to flats and there is a good rental demand.
In more detail it comprises
Communal Entrance Hall
With stairs up to first and second floors.
Flat One Studio Flat
Having bed-sitting room with kitchen area and shower room/wc off.
Flat Two
Having lobby area with sitting room, bedroom, kitchen, bathroom/wc, access to rear garden.
Flat Three Studio Flat
Having bed-sitting room with kitchen area. Use of shared bathroom on first floor.
First Floor
Flat Four
Having dining kitchen, bed-sitting room, shared bathroom facility with number 3.
Flat Five
Having entrance lobby, shower room/wc, bedroom, separate living room, kitchen.
Bathroom/wc
For use by flats 3 and 4.
Second Floor
Flat Six
Occupying the whole of the upper floor having entrance hall, kitchen, sitting room, three bedrooms, bathroom/wc.
Outside
Surfaced fore-court with railings to pavement. Enclosed rear yard and garden.
Tenancy Details
Flat One Vacant
Flat Two Let at £250 pcm
Flat Three Vacant
Flat Four Let at £220 pcm
Flat Five Let at £320 pcm
Flat Six Let at £450 pcm
Total current monthly rent - £1,240 (£14,880 per annum) with assumed income from flats 1 and 3,t he rental yield would be nearer £1,740 pcm, £20,880 per annum.
Vendors Solicitors/Licensed Conveyancers
Davisons, 254 Lichfield Road, Four Oaks, Sutton Coldfield B74 2UH
Tenure
Freehold. Subject to tenancies.
NOTE
The auctioneers have not inspected the property and information has been supplied by the sellers.
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 Prospective purchasers are advised to check with the auctioneers before the sale that the property is neither sold or withdrawn.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 7th July 2011
At Pride Park Stadium, Derby
Commencing at 11.30 am
SUPERB HIGH YIELD INVESTMENT PROPERTY
Three storied Victorian town house divided into six flats
Situated on fringe of city centre in a regeneration area
Gross income between £20,500 and £21,000 p.a.
