- Unsold at auction
- 29 june 2022
- Epc rating - awaited
A freehold residential investment opportunity of a 16 bedroomed property, with 4 studio flats (total 21 bedrooms) extending to 8,159 sq.ft (758 sq.m) set back form the road in a gated courtyard position situated within literally yards of Derby City Centre. As a fully operational HMO (subject to a full HMO license being in place) in our opinion we would anticipate a rental income of between £70,000 to £75,000 per annum, once fully let, this would represent a 15.5% return based on its very attractive guide price.
The property is set back from the road in a gated courtyard and is a 'U' shaped block. On the ground floor can be found 4 individual studio flats with their own entrances. From the main entrance 16 bedroomed shared accommodation with superb communal areas consisting of a large kitchen diner having modern units with a range of built in appliances, a large sitting room with further area off, gymnasium and shared washing and toilet facilities. Separate laundry room. Within the Courtyard can be found a bike storage rack.
The property has gas central heating as well as hard wired fire/smoke alarm systems, and necessary fire escape.
Council Tax Band: Commercial
EPC: E 758 sq m
Bagshaws residential auctions, 32-34 Cornmarket, Derby DE1 2DG
By arrangement with the auctioneers - please see important advice for viewers on page 19 of this catalogue
Bagshaws Residential Derby, 32 – 34 Cornmarket, Derby, DE1 2DG (01332 361308) - please see important advice for viewers on page 19 of this catalogue
CONDITIONS OF SALE
The Conditions of Sale will be deposited at the offices of the auctioneers, Bagshaws Residential, and vendors solicitors 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 auctions. Prospective purchasers are advised to check with the auctioneers, Bagshaws Residential, before the sale that the property is neither sold or withdrawn. The purchaser will also be deemed to have read and understood the auction conduct notes printed within the sale catalogue.
Health & Safety Advice for Property Viewers Whilst Bagshaws Residential make every effort to ensure the safety and security of viewers at properties, we have not carried out a detailed Health & Safety inspection of the properties in our auction and cannot therefore guarantee the safety and security of viewers Prospective purchasers and bidders attend properties entirely at their own risk. Particular care should be taken when accessing cellars, attics, exterior grounds, outbuildings and boundaries. All non-conducted inspections of vacant sites should be made in daylight hours only and entry into such sites is entirely at the viewers’ risk
*Guide and Reserve Prices
Guide Price: An indication of the seller's current minimum acceptable price at auction. The guide price or range of guide prices is given to assist consumers in deciding whether or not to pursue a purchase. It is usual, but not always the case that a provisional reserve range is agreed between the seller and the auctioneer at the start of marketing. As the reserve is not fixed at this stage and can be adjusted by the seller at any time up to the day of the auction in the light of interest shown during the marketing period, a guide price is issued. This guide price can be shown in the form of a minimum and maximum price range within which an acceptable sale price (reserve) would fall, or as a single price figure within 10% of which the minimum acceptable price (reserve) would fall. A guide price is different to a reserve price (see separate definition). Both the guide price and the reserve price can be subject to change up to and including the day of the auction.
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 contract documentation charge £1,250.00 (including VAT) payable on the fall of the hammer. If you are unable to attend the auction for any reason you can still bid on the property either by telephone or proxy bid, please contact the auctioneers for further information.
Guidance notes are set out in the catalogue in relation to auction property, particularly from a purchasing perspective.
Use our handy mortgage calculator to estimate what your monthly repayments could be. Edit the fields below with the relevant details or, if you’d like a more accurate view on what your repayments could be, complete our mortgage enquiry form below and our Mortgage Consultant will be in touch.
* Terms and Conditions apply.
LENDER FEES MAY ALSO BE APPLICABLE. IF YOU WOULD LIKE GUIDANCE ON THE RIGHT MORTGAGE FOR YOU, WE RECOMMEND SPEAKING TO ONE OF OUR MORTGAGE CONSULTANTS WHO WILL BE MORE THAN HAPPY TO HELP.
**THE 2.072% ANNUAL INTEREST RATE IS BASED ON THE CONNELLS GROUP AVERAGE MORTGAGE INTEREST RATE TAKEN IN, CORRECT AT JANUARY 2022.
A BROKER FEE MAY BE PAYABLE UPON MORTGAGE APPLICATION AS WELL AS AN ADMINISTRATION FEE. THE TOTAL FEE PAYABLE WILL DEPEND ON YOUR CIRCUMSTANCES. YOUR MORTGAGE CONSULTANT WILL EXPLAIN ANY FEES APPLICABLE IN YOUR INITIAL APPOINTMENT.
ALL MORTGAGES ARE SUBJECT TO STATUS AND LENDER CRITERIA. MOST BUY TO LET MORTGAGES ARE NOT REGULATED.