- Auction: 27.03.2025 09:00 +
- Council Tax Band: D +
- A substantial three storey 8-bedroom HMO +
- Fully let returning £51,300 per annum +
- Very attractive yield of 17% against the guide price +
- Prime Derby city centre location near excellent amenities +
- Excellent opportunity for investors +
- EPC Rating: C +
For sale on 27 March 2025
Our national property auction will be broadcast online with live auctioneers. To bid by proxy, online, or by phone, please submit your registration form no later than 5pm the day before the auction.
The auction will commence at 09:00.
A substantial three storey 8-bedroom HMO fully let returning £51,300 per annum, representing a very attractive yield of 17% against the guide price, based on comparable evidence.
The property was fully upgraded and renovated just 3 years ago but there is further scope to add two extra bedrooms subject to the relevant planning permissions. Prospective buyers must make all necessary independent enquiries in this respect for their specific, intended use prior to placing their bid, as this will be binding.
Located in the heart of Derby City Centre within walking distance to a wide variety of shops, restaurants & bars. Public transport links are great with a bus stop right outside and the train station less than 1 mile away. Road links are A52, A38 onto the M1.
Ground floor - Entrance hallway, bike store and storage area.
Communal living space and kitchen - Located on the first floor.
First floor - two double bedrooms with ensuite, W/C, shower room and boiler room.
Second floor - Two double bedrooms, bathroom and a double bedroom with ensuite
Third floor - Two double bedrooms, bathroom and double bedroom with ensuite.
Mobile Phone Coverage O2, EE, Three and Vodafone avaliable.
Construction Material - As per EPC: Wall - solid brick, as built, no insulation. Roof - pitched, 250 mm loft insulation.
Draft Sales Details These sales details are awaiting vendor approval.
Tenure: Freehold
EPC Rating: C
Terms:
Auction Details:
The sale of this property will take place on the stated date by way of Auction Event and is being sold under and Unconditional sale type.
Binding contracts of sale will be exchanged at the point of sale.
All sales are subject to SDL Property Auctions Buyers Terms. Properties located in Scotland will be subject to applicable Scottish law.
Auction Deposit and Fees:
The following deposits and non- refundable auctioneers fee apply:
• 10% deposit (subject to a minimum of £5,000)
• Buyers Fee of 1.2% of the purchase price (subject to a minimum of £1,500 inc. VAT)
The Buyers Fee does not contribute to the purchase price, however it will be taken into account when calculating the Stamp Duty Land Tax for the property (known as Land and Buildings Transaction Tax for properties located in Scotland), because it forms part of the chargeable consideration for the property.
There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.
Additional Information:
For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions home page.
This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack (and any applicable Home Report for residential Scottish properties).
Guide Price & Reserve Price:
Each property sold is subject to a Reserve Price. The Reserve Price will be within + or - 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.
