Terraced House for auction in Derby

Description

***EXCELLENT BTL RESIDENTIAL INVESTMENT OPPORTUNITY***

An infrequent and exciting opportunity to acquire a pair of freehold, recently upgraded, two bedroomed terrace properties, situated close to the city centre, offered with immediate vacant possession.

In our opinion the properties should achieved a combined gross rental income in excess of £20,000 per annum, this representing an impressive 12.9% return based against the guide price.

Both properties have the same layout with neutral decor, uPVC double glazing and electric heating and in brief comprise:- Rear entrance hall with stairs, lounge thro diner and re-fitted kitchen. To the first floor passaged landing there are two bedrooms and bathroom suite in white with shower.

Outside to the side of the property there is driveway with hardstanding area to the rear that could either be used as car standing or split into two separate gardens subject to the necessary legal procedures.

The properties are situated within the context of and established and strong letting location, conveniently positioned for the fashionable Friar Gate area of Derby. The Royal Derby Hospital and A38 are both within a short commute.

Accommodation

114 Drewry Lane

Rear entrance hall with stairs

Lounge thro diner
15ft 1 max x 12ft 3

Fitted kitchen
10ft 4 x 6ft 8

First floor passaged landing
12ft 3 x 2ft 6

Bedroom one
12ft 3 x 9ft 3 max

Bedroom two
10ft 2 x 6ft 6

Fitted bathroom
6ft 4 x 5ft 6

116 Drewry Lane

Rear entrance hall

Lounge thro diner
15ft 11 x 12ft 8 max

Fitted kitchen
10ft 5 x 6ft 10

First floor passaged landing
12ft 6 x 2ft 6

Bedroom one
12ft 7 x 9ft 3 max

Bedroom two
9ft 10 x 6ft 9

Fitted bathroom
6ft 9 x 5ft 3

Outside

Tenure: Freehold

Vacant possession upon completion

Tenure

Freehold

Occupancy

Vacant posession upon completion

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:

• 10% deposit (subject to a minimum of £5,000)

• Buyer’s Fee of 1.2% of the purchase price (subject to a minimum of £1,500 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