Flat for auction in Derby

Description

***Residential investment opportunity***

Offered for sale at a very attractive guide price, is a well-equipped one double bedroomed fifth floor apartment, currently let on a rolling tenancy agreement producing £500 per calendar month (£6,000 per annum). In our opinion there is scope for a significant rental increase.

Entered via a communal entrance hall with lift and stairs, the apartment itself has the benefit of replacement sealed unit uPVC double glazed windows and in brief comprises of entrance with airing cupboard and separate storage cupboard, lounge with views and balcony, fitted kitchen with plumbing for an automatic washing machine, double bedroom with built-in-wardrobe and fitted shower room. Outside there are well kept grounds with communal parking.

The property is located next to the popular Park Farm Shopping Centre and is also within easy reach of local primary and secondary schools. Derby city centre and the A38 are both within a short commute.

Accommodation

Communal ground floor lobby with lift and stairs

Entrance Hall
9ft 1 max x 4ft 8

Lounge
13ft 4 x 10ft 2

Fitted Kitchen
9ft 1 max x 6ft 7

Bedroom
11ft 7 x 9ft 5

Bathroom
6ft 4 x 5ft 5

Outside
Residents parking

Leasehold Information
199 years from 29 September 1987. Any ground rent and service charge review periods will be confirmed in the lease documents within the legal pack.

Tenure

Leasehold

Occupancy

Subject to a tenancy

Costs

Auction Details

The sale of this property will take place on the stated date by way of Live streamed auction and is being sold under the Unconditional sale type.

Binding contracts will be exchanged at the point of sale.

All sales are subject to our Common Auction Conditions and Bidder Terms. Properties located in Scotland and Northern Ireland will be subject to applicable local laws.

Auction Deposit and Fees

The following deposits and non- refundable auctioneers fees apply:

• 5% deposit (subject to a minimum of £5,000)

• Buyer’s Fee of 4.8% of the purchase price (subject to a minimum of £6,000 inc. VAT)

There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.

Additional Information

For full details about our auction processes, please refer to the Bidder Terms which can be viewed on our home page.

This explains the types of auction and sale methods we offer, the bidding registration process, your payment obligations, and how to view the Legal Pack (and any applicable home report for residential Scottish properties).

Guide Price & Reserve Price

Each property sold is subject to a Reserve Price. The Reserve Price 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. A full definition can be found within the Buyers Terms.

General

Draft Sales Particulars
These sales details are awaiting vendor approval

Note
Please be advised that the auctioneers have not personally inspected the property. Prospective buyers are advised to make a viewing enquiry and any other necessary independent enquiries before placing their bid, as this will be binding.