7 bedroom Block of Apartments in Leicester

Apartments 13-19, St. Georges Mill, 13 Humberstone Road, Leicester, Leicestershire LE5 3GW
  • Lot No: 77
  • Property Type: Block of Apartments
  • Contract Type: Unconditional with Fixed Fee

Guide Price* £485,000+ plus fees

Result Sold at Auction £520,000

Property Description

A ground floor block of seven apartments. The block has its own private access and communal areas and each apartment is self contained and have their own utility supplies. The apartments range from 30 sqm to 38 sqm Situated on the corner of Humberstone Gate and Morledge Street within the city centre and surrounded by a wealth of bars, restaurants and shops. The properties are in excellent order with modern kitchens, bathrooms and decor. The block is fully let at £51,000 per annum and offering a return of around 10% at the current guide price. They are held on a long lease of 150 years from 2015. Currently the owner pays an annual service charge of £5,000 per annum. Leaving a net income of £46,000 per annum.

Individual Breakdown

Flat 13- One Bed- Let at £7800 per annum. Flat 14- Studio - Let at £7200 per annum. Flat 15- Studio - Let at £7200 per annum. Flat 16- Studio - Let at £7200 per annum. Flat 17- Studio - Let at £6900 per annum. Flat 18- Studio - Let at £7500 per annum. Flat 19- Studio - Let at £7200 per annum.


Tenure

Leasehold

Auction Details: The sale of this property will take place on the stated date by way of Auction Event and is being sold as Unconditional with Fixed Fee. 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 auctioneer’s fee apply: • 10% deposit (subject to a minimum of £5,000) • Buyer’s Fee of £1,500 inc. VAT The Buyer’s 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 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.

Auction Details

Date 24th February 2022

Venue National Property Auction
The National Property Auction will be conducted behind closed doors. The auction will be live-streamed online with remote bidding only. Registration for bidding will close at 12pm the day before the auction.

Lot Information

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Map

Apartments 13-19, St. Georges Mill, 13 Humberstone Road, Leicester, Leicestershire LE5 3GW