Draft Details Only- Awaiting Vendor Approval

A substantial bay windowed end terraced house located in a popular residential area with local amenities, about a mile from the City centre.

The accommodation which is arranged on three floors (plus basement) is divided into four letting units, each currently occupied on assured shorthold agreement.  It is considered that there is scope for some increase in the rental yield, and in addition the basement area at the rear of the property could be adapted to form a further letting unit.

In more detail the accommodation is as follows -

Shared Entrance Lobby and Entrance Hall

With electric storage heater.

FLAT ONE (Remainder of Ground Floor)

Having -

Private Entrance Door

With rear entrance door from garden, access off to Cellar

Sitting Room

With feature fireplace, French door, electric storage heater, double bedroom with bay window and fitted wardrobes.

Breakfast Kitchen

With modern range of fittings.

Bathroom

With shower and wash basin.  Separate wc.

Stairs to First Floor

FLAT TWO

Having -

Private Entrance Hall

Double Bedroom

With electric storage heater.

Shower Room

With wash basin and wc.

Sitting Room/Kitchen

With modern range of units including built in oven and hob, electric storage heater.

FLAT THREE

Having -

Bed-Sitting Room

Kitchen

Off bed-sitting room with modern range of units.

Shower Room

With wc.

From the First Floor Landing an enclosed staircase leads to the second floor and -

FLAT FOUR

Having -

Kitchen

With modern range of units.

Shower Room

With wc.

Large Bed-Sitting Room

With dormer window.

An external door with porch canopy access an area of roof garden.

Outside

Surfaced forecourt having gate and railings to frontage.

Enclosed rear garden with patio areas on two levels.

Tenancy Details

The four flats are let on assured shorthold agreements at a combined reserved rent of £1,075 per calendar month (£12,900 per annum).  It is recognised however that in one or two cases the rents are reasonably historic and there is scope for increase in the combined yield which should exceed £14,000 per annum.

Vendors Solicitors/Licensed Conveyancers

Qube Legal, 563a Stratford Road, Sparkhill, Birmingham

Tenure

Freehold. Vacant possession on completion.

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 12.30 pm.  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 £145 (inc VAT) payable on the fall of the hammer.

For Sale by Auction: Thursday 18th October 2007

At Pride Park Stadium, Derby

Commencing at 12.30pm

www.grahampenny.com