Detached House
Guide Price: £425,000- £475,000+
For sale by auction – Thursday 2nd October 2014
At Leicester City Football Club, King Power Stadium, Filbert Street,
Leicester LE2 7FL
Commencing at 11.30 am
Brief Description
A large, handsome, detached residence which offer 8 apartments arranged over 3 floors and further cellar space. The property is let at and gives a combined rental income of £38,400 per annum.
Located on a tree lined street just off London Rd the property is only 100 yards from Victoria Park, the shops and bars of London Rd and it within an easy walk to the Train Station and City Centre.
Flat 1- Ground floor one bedroom flat
Flat 2- Ground floor one bedroom flat
Flat 3- Ground floor studio flat
Flat 4- Ground floor studio flat
Flat 5- 1st floor studio flat
Flat 6- 1st floor one bedroom flat
Flat 7- 1st floor studio flat
Flat 8- 2nd floor 2 bedroom flat.
Cellar- Currently let on a License for storage purposes at £1500 per annum.
There is parking and a bike shelter and gardens to the rear. There is excellent scope for further extension/development to provide further flats subject to the necessary consents.
There is also a token operated laundry room which provides a further income.
In all, an excellent investment in one of Leicester’s most sought after areas. Properties like this rarely come to the market.
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Prospective purchasers are advised to check with the auctioneers before the sale that the property is neither sold nor withdrawn.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.
*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
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 fee of £750 (including VAT) payable on the fall of the hammer.
Freehold Investment Opportunity
Large Detached Property
Converted to 8 Flats & Cellar Space
£38,400 Rental Income Per Annum
EPC TBC
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