• UNSOLD AT AUCTION +

• 30 July 2024 +

• EPC Rating - D +

SUMMARY
GUIDE PRICE £260,000 -
• The property currently holds an HMO licence
• A five/six-bedroom student let, located centrally in Lincoln
• Historically operated as a sought-after student property

DESCRIPTION
GUIDE PRICE: £260,000

AVAILABLE POST AUCTION. CONTACT: Bagshaws Residential Derby, 32 – 34 Cornmarket, Derby, DE1 2DG option 3)

DOWNLOAD LEGAL DOCUMENTS FROM BARNARD MARCUS AUCTIONS WEBSITE

Description
West Parade has operated as a student let over many years as a five-bedroom property, but it has the potential to be used as a six bedroom let. There is the potential to achieve within the region of £115-£135 per week, per room which makes this a very attractive investment opportunity. The property is located a short distance from the centre of Lincoln which offers an abundance of amenities including bars, restaurants, retail outlets and tourist attractions. The property currently operates and comprises a kitchen/diner, living room, reception room/bedroom, utility room and a WC to the ground floor. To the first floor are three bedrooms, a bathroom and a shower room. To the second floor are two bedrooms. The current HMO licence was granted in 2021 and expires July 2026. Please note that HMO licences aren’t transferable. The property has been well maintained by the current tenants.

Accommodation
Ground floor: an entrance hall, kitchen/diner, living room, reception room/bedroom, utility room and a WC.
First floor: three bedrooms, a bathroom and a shower room
Second floor: two bedrooms
Outside: a garden to the rear of the property

EPC: D

Council Tax Band: C

Tenure:
Freehold

Viewings:
William H Brown, 35-36 Silver Street, Lincoln, LN2 1EW. Tel: .
Email:
By arrangement with the auctioneers - please see important advice for viewers on page 19 of this catalogue

FOR SALE VIA THE MIDLANDS AUCTION CENTRE IN ASSOCIATION WITH BARNARD MARCUS AUCTIONS ON TUESDAY 30TH JULY 2024 AT 9.00AM AT THE DE VERE GRAND CONNAUGHT ROOMS, 61-65 GREAT QUEEN STREET, COVENT GARDENS, LONDON WC2B 5DA. YOU CAN ALSO REGISTER FOR ONLINE BIDDING.

CONDITIONS OF SALE
The Conditions of Sale are available online and will be deposited at the offices of the auctioneers and vendor’s solicitors seven days prior to sale and the purchaser shall be deemed to have knowledge of the same whether inspected or not. Any questions relating to them must be raised prior to the auction. Prospective purchasers are advised to check with the auctioneers before the sale that the property is neither sold nor 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 the auctioneers make every effort to ensure the safety and security of viewers at lots, we have not carried out a detailed Health & Safety inspection of the lots in our auction and cannot therefore guarantee the safety and security of viewers. All persons attend properties entirely at their own risk. Particular care should be taken when accessing cellars, attics, exterior grounds, outbuildings and boundaries. All unaccompanied 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.

NOTE
The auctioneers offer four ways to bid including internet, telephone, proxy, and live room bidding. Prospective purchasers will need to register to bid and pay a holding deposit before the sale commences by registering at Barnard Marcus Auctions website. We do not take credit card or cash deposits. The sale of each lot is subject to a documentation charge of £1,500 (including vat) payable on the fall of the hammer.
Guidance notes are set out in the catalogue in relation to auction lots, particularly from a purchasing perspective.

1. MONEY LAUNDERING REGULATIONS: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
2. General: While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.
3. Photographs and Measurements: Some images may have been taken by a wide angled lens camera. These approximate room sizes are only intended as general guidance. You must verify the dimensions carefully before ordering carpets or any built-in furniture.
4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.
5. THESE PARTICULARS ARE ISSUED IN GOOD FAITH BUT DO NOT CONSTITUTE REPRESENTATIONS OF FACT OR FORM PART OF ANY OFFER OR CONTRACT. THE MATTERS REFERRED TO IN THESE PARTICULARS SHOULD BE INDEPENDENTLY VERIFIED BY PROSPECTIVE BUYERS OR TENANTS. NEITHER SEQUENCE (UK) LIMITED NOR ANY OF ITS EMPLOYEES OR AGENTS HAS ANY AUTHORITY TO MAKE OR GIVE ANY REPRESENTATION OR WARRANTY WHATEVER IN RELATION TO THIS PROPERTY.