7 bedroom House of Multiple Occupation in Derby

59 Uttoxeter New Road, Derby, DE22 3NL
  • Lot No: 57
  • Property Type: House of Multiple Occupation
  • Contract Type: Unconditional

Guide Price* £300,000+ plus fees

Result Sold Prior to Auction £375,000

Property Description

The sale includes two separate letting units. One 4 bedroomed house and one 3 bedroomed property. The property has a long letting history and is already let for the 2020-2021 academic year. The rental income amounts to £35,280 per annum inclusive and therefore offering a return of over 11% at the current guide price. The property is in excellent order and benefits from gas central heating and modern kitchen and bathrooms. A ready made, low maintenance investment with income from day one. This student investment property has been fully managed and continually let out to students by Nicholas Humphreys estate and letting agents at Friar Gate, Derby. The agents are more than happy to carry on the management for future landlords.

Main House - 4 Bedrooms

Comprising -


GROUND FLOOR:

Reception Hallway Communal Dining/ Living/ Kitchen Bedroom One


FIRST FLOOR:

Landing Bedroom Two Bedroom Three


SECOND FLOOR:

Landing Bedroom Four Bathroom with four piece suite.


Studio House- 3 Bedrooms

Comprising -


GROUND FLOOR:

Communal Kitchen / Lounge Bedroom


FIRST FLOOR:

Bedroom Two Bedroom Three Bathroom


Outside

Driveway offering parking for two cars. A pleasant and private rear garden which is fully enclosed.


Letting History:

The property has a great letting history and the recent years rental income are shown below- 19/20 £36,036 18/19 £34,580 17/18 £32,760 16/17 £32,760


Tenure

Freehold


Conditions of Sale The Conditions of Sale will be deposited at the offices of the auctioneers and vendors solicitors/licensed conveyancers prior to the auction 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 the auction. Prospective purchasers are advised to check with the auctioneers before the sale that the property is neither sold nor withdrawn.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.   A 10% deposit is payable on the fall of the gavel, subject to a minimum of £5,000.   *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, will 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 the Guide Price and the Reserve Price click here.   Energy Performance Certificates EPCs can be viewed in full in the lot information section at the top of this page or in the legal pack.   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 cheque deposits. Remote bidding facilities are also available.   Auction Fees The sale of each lot is subject to a buyer’s fee of £1,074 inc VAT (£895 + VAT) (unless otherwise stated in the important notices), payable on the fall of the hammer.   The purchase of this property may include associated fees not listed here. Any additional fees will be confirmed in the legal pack which can be downloaded from our website from the lot information section above. Or to find out more about any additional fees associated with this property please contact the auction office.