Flat / Apartment
FOR SALE BY AUCTION - THURSDAY 11TH SEPTEMBER 2014
AT IPRO STADIUM, DERBY
COMMENCING AT 11.30 AM
Situated on the corner of Cotmanhay Road and Bright Street, with a large element of recent new build, an opportunity to acquire an excellent investment property providing well maintained accommodation of good specification.
The four separate letting units each have their own individual address, are almost entirely double glazed, two having gas central heating systems, one having electric heaters and the other having electric heaters and gas fire.
The property is located in an established residential position, within reasonable distance of the town centre and all its facilities. In more detail it comprises the following
66a Bright Street
A gas centrally heated, mostly double glazed first floor apartment having entrance hall, lounge, kitchen, bedroom, bathroom and separate wc.
66b Bright Street
A generous ground floor apartment having gas centrally heated and double glazed accommodation comprising an entrance lobby, kitchen, utility room, lounge, bathroom and two bedrooms.
66c Bright Street
A large first floor apartment, double glazed and with electric heating having entrance hallway, lounge, kitchen, bathroom and two bedrooms.
94 Cotmanhay Road
A ground floor apartment having double glazed accommodation with the benefit of independent heaters, containing lounge, hallway, bathroom, kitchen and bedroom.
Tenancy Details
All four letting apartments are currently occupied under assured shorthold agreements at rents varying from £300 to £350 per calendar month. Total reserved rent currently £15,600 p.a. It is considered that there is scope for some increase.
Directions
From the Tesco roundabout at the bottom of the town turn into Granby Street, bearing left after 100 yards by the church into Cotmanhay Road. At the mini island continue straight ahead, presently following the road down the hill where Bright Street will be found as a turn on the left hand side and the property is immediately on the left hand corner.
Vendors Solicitors/Licensed Conveyancers
Robinsons, 21-22 Burns Street, Ilkeston, Derbys DE7 8AA
Tenure
Freehold. Subject to tenancies.
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 nor 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 deposits.
The sale of each lot is subject to a buyers contract handling fee of £750 (inc VAT) payable on the fall of the hammer.
*Guide Prices and Reserve Prices
Each property sold is subject to a Reserve Price. The Reserve Price, which is agreed between the seller and the auctioneer just prior to the auction, would ordinarily 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. Both the Guide Price and the Reserve Price can be subject to change up to and including the day of the auction. For a full definition of Guide Price and Reserve Price go to www.grahampennyauctions.com/glossary
FOR EPC'S AND LEGALS PLEASE SEE THE WEBSITE
QUALITY RESIDENTIAL INVESTMENT OPPORTUNITY
Four self-contained flats (no communal areas)
2 x 2 bedroomed flats; 2 x 1 bedroomed flats
Current rental yield - £15,600 p.a.
EPC Ratings : 66a - D and 66b - C and 66c - D and 94 Cotmanhay - E
