Flat / Apartment
FOR SALE BY AUCTION: THURSDAY 23RD OCTOBER
AT IPRO STADIUM, DERBY
COMMENCING AT 11.30 AM
Wildsmith Street is located off London Road, a few yards from Alvaston neighbourhood centre with an ample range of amenities, and handy for the City centre. The subject property has been in use for investment purposes for many years, and comprises a self-contained ground floor flat, and separate first and second floor accommodation which is let on a shared house basis.
The property has the benefit of uPVC double glazing and gas central heating. It also has the benefit of a mains fire alarm system and emergency lighting.
In more detail the accommodation comprises
1A WILDSMITH STREET
A self-contained ground floor flat comprising
Entrance Hall
Bathroom
With white four piece suite of fittings.
Kitchen
With range of modern fittings, inset stainless steel sink, built in oven and hob.
Bed-Sitting Room
Rear Door
Accessing an enclosed yard with parking for one vehicle.
1 WILDSMITH STREET
Two floor accommodation which has previously been let to three occupants on a shared house basis.
Entrance Lobby
With uPVC entrance door to street.
Stairs to First Floor
Dining Kitchen
Extensively fitted and with appliances.
Bedroom One
Bedroom Two
Half Tiled wc
With wash basin.
Separate Bathroom
With shower over bath.
Stairs to second floor
Landing
With fitted wardrobes.
Bedroom Three
Bedroom Four
Tenancy Details
The ground floor flat has previously been let on an assured shorthold agreement at £95 per week (£4,940 p.a.) including electric and water. The upper floor accommodation has previously been let to four occupants paying 2 x £65 per week, 1 x £55 per week and 1 x £45 per week (total £230 per week - £11,960 p.a.). It is understood the shared accommodation now has one occupant. Potential income if fully let £16,900 p.a.
In addition the occupants of the shared accommodation pay £20 each for the provision of utilities – gas, water, electricity and tv licence – paid by the landlord.
Vendors Solicitor/Licensed Conveyancer
Eric Whitehead Partnership, St. Giles Chambers, 14 Chapel Street, Cheadle, Stoke on Trent ST10 1DY
Tenure
Freehold. Subject to tenancy.
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
High yield residential investment property
Three floors with self contained ground floor flat and shared upper floor accommodation.
Potential rental income circa £16,900
Mains fire alarm and emergency lighting
Energy Efficiency Rating - Ground Floor F & Top Floor D
