Draft Details Only- Awaiting Vendor Approval

Situated on the corner of Bailey Street with St. Chads Road, within comfortable walking distance of the City centre and on a bus route, an extremely large three storied double fronted Victorian town house which has been divided into four letting units, all self-contained and centrally heated.

The flats are let at a current combined monthly income of £1,200 (£14,400 per annum) but with distinct potential to increase the rental income.

In more detail they are as follows -

Combined Entrance Hall

FLAT A (Studio)

Having combined living room and bedroom, shower room/wc, kitchen.

FLAT B

Having sitting room, kitchen, bedroom with en-suite facility, separate wc.

Separate Entrance Lobby

With stairs to First Floor

FLAT C

Having entrance lobby, sitting room, bedroom, kitchen, bathroom/wc.

FLAT D

Having entrance lobby, bedroom, internal stairs to second floor and further entrance lobby, sitting room, kitchen, bathroom/wc.

Outside

There are small gardens to front, side and rear.

Tenancy Details

All four letting units are occupied on varying rents currently totalling £1,200 per calendar month (£14,400 per annum).  It is considered that there is potential to increase the rental yield.

Directions

From the City centre proceed up Charnwood Street from the top of Bradshaw Way.  At the traffic lights continue straight ahead into Mill Hill Lane and take the first exit instead of going around the right hand bend.  Continue to the top of the hill and thereafter Bailey Street is the second turning on the left.

Vendors Solicitors/Licensed Conveyancers

Qube Legal, 563a Stratford Road, Sparkhill, Birmingham

Tenure

Freehold. Subject to tenancies.

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 Prospective purchasers are advised to check with the auctioneers before the sale that the property is neither sold or withdrawn.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 or credit card deposits.

The sale of each lot is subject to a contract documentation charge of £195 (inc VAT) payable on the fall of the hammer.

For Sale by Auction: Thursday 22nd May 2008

At Pride Park Stadium, Derby

Commencing at 11.30 am

www.grahampenny.com