3 bedroom Block of Apartments in Derby

104 Madeley Street, Derby DE23 8EX
  • Lot No: 6
  • Property Type: Block of Apartments
  • Contract Type: Unconditional with Fixed Fee

Guide Price* £85,000+ plus fees

Result Sold at Auction £103,000

Property Description

DRAFT DETAILS A substantial and attractive end terraced-property converted into two x one bedroomed flats and a studio penthouse(loft) being part let, part vacant, currently producing £9,620 per annum. Thought suitable for significant rental increase after improvements are made to the property and we would estimate a potential combined income of circa £15,000 per annum, which would represent a 17.6% return based on the guide price. Prospective buyers are advised to make all necessary independent enquiries prior to placing their bid as this will be binding. The property occupies a pleasant residential location, situated within literally yards of Derby Arboretum Park, local shopping parade, along with the city centre. Excellent residential investment opportunity.

Communal Entrance Hall 12ft 7 x 6ft 2

With staircase to first floor.


Flat One

The auctioneers have not been able to gain access to the flat however we are informed by the seller that the accommodation consists of lounge, bedroom, kitchen and bathroom.


Tenancy Details

Flat One is currently let on an assured shorthold tenancy at £90 per week (£4,680 per annum).


First Floor Landing

Leading to -


Flat Two

Comprising -


Entrance Lobby

With door.


Bedroom 13ft 3 into chimney recess x 12ft 2

With uPVC double glazed window, storage heater and -


walk-In Storage Area 6ft 6 x 6ft 2

With uPVC double glazed window.


Lounge 11ft 5 x 9ft 4

With uPVC double glazed window.


Kitchen 9ft 5 x 7ft 7

With uPVC double glazed window. Fitted kitchen in white shaker style units, stainless steel sink and drainer.


Bathroom 7ft 2 max x 4ft 9

With uPVC double glazed window. Fitted with a three piece suite comprising panelled bath with low level wc, pedestal wash hand basin and tiling to walls.


Tenancy Details

Flat Two is let at on an assured shorthold tenancy at £95 per calendar month (£4,940 per annum).


Studio/Loft Room 18ft 7 max x 11ft 2

With roof light, panel heater and fitted kitchen.


L-Shaped Ensuite Shower Room 7ft x 6ft 6

Comprising a shower cubicle, low level wc, wash hand basin and tiling to walls.


Potential Rental Income

The Studio Flat is vacant. Estimated potential rental income of £325 to £350 per calendar month, based on comparable evidence.


Outside

To the rear of the property there is an enclosed garden.


Tenure

Freehold

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 29th September 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

Contact Us

If you have any questions, call our team on 0800 046 5454

Map

104 Madeley Street, Derby DE23 8EX