Draft Details Only- Awaiting Vendor Approval

An opportunity to acquire an excellent investment property being a four storied Victorian town house having four self contained flats - one at ground floor rear.  These are all one bedroomed accommodation - the ground floor rear flat being a studio - and at the time of preparation on these particulars three of the flats were let at a combined reserved rent of £9,960 per annum.

Accommodation -

Ground Floor (Rear)

Flat Four

Having Lobby, Bed-Sitting Room, Shower Room/wc and Kitchen.

Ground Floor (Front)

Flat One

Having Lounge with open plan Kitchen, Shower Room/wc, Bedroom.

First Floor -

Flat Two

Having Lounge with Kitchen area, Shower Room/wc, Bedroom and Bedroom.

Second Floor -

Flat Three

Having Entrance Lobby, Lounge with Kitchen area, Bedroom, Shower Room and wc.

Tenancy Details

Flat 1, 2 and 3 and currently let on assured shorthold agreements.  Flat 1 £260 pcm.  Flat 2 £285 pcm.  Flat 3 £285 pcm.  Flat 4 Vacant.  Current combined reserved rent £9,960 per annum.  With income from Flat 4 total potential yield would be circa £13,380 per annum.

Directions

From the inner ringroad proceed onto Burton Road away from the City centre and at the first set of traffic lights turn right into Abbey Street.  The property will be found on the left hand side after about 100 metres, just before the first left hand turn which is Boyer Street.  Parking can be found in Boyer Street, or there is an area of ground to the rear of the flats.

Tenure

Freehold. Subject to tenancies; one flat vacant.

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 Prospective purchasers are advised to check with the auctioneers before the sale that the property is neither sold or withdrawn.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 16^th October 2008

At Pride Park Stadium, Derby

Commencing at 11.30 am

www.grahampenny.com