5 bedroom House of Multiple Occupation in Nottingham

18 Gloucester Avenue, Lenton, Nottingham NG7 2DQ
  • Lot No: 14
  • Property Type: House of Multiple Occupation
  • Contract Type: Unconditional with Fixed Fee

Guide Price* £185,000+ plus fees

Result Sold at Auction £400,500

Property Description

Excellent Investment opportunity to acquire a five bedroomed HMO. The property is fully let and occupied for the forthcoming 2022/2023 academic year, producing a gross annual rental income of £30,550 (inclusive of bills), until July 2023. A further agreement is in place for the academic year 2023/2024 at a gross rental income of £35,135 (inclusive of bills). The property benefits from gas central heating and UPVC double glazing, entrance hallway, communal lounge, fitted kitchen, five bedrooms over three floors, two shower rooms and further separate WC. Situated within a prime location of Lenton, The University of Nottingham (University Park), Jubilee Campus and The Queens Medical Centre are all within walking distance. There is also a range of excellent transport links close by, including both bus and trams which provide direct access to and from Nottingham City Centre, Beeston Town Centre and other surrounding areas. The accommodation comprises:

Outside

Rear yard.


Note

We are informed by the seller that the rent is inclusive of gas, electricity, water and internet. Tenancy - 1st August 2022-31st July 2023. 5 tenants. Annual rent per tenant £6,110. Tenancy - 1st August 2023-31st July 2024. 5 Tenants. Annual rent per tenant £7,027.


Conflict of interest

PLEASE NOTE: Under the Estate Agents Act 1979 we are required to declare any conflict of interest. The seller of this property is a Director of the SDL Group. If you have any queries regarding this, please contact us for further information.


Note

The photos of the interior have been supplied by the seller and illustrate the property before the tenancy commenced.


Draft Sales Details

These sales details are awaiting vendor approval.


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 23rd February 2023

Venue National Property Auction
The National Property Auction will be broadcast live on our website and open to remote bidding online, on the phone and by proxy. Registration for bidding will close at 5pm the day before the auction.

Lot Information

Contact Us

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

Map

18 Gloucester Avenue, Lenton, Nottingham NG7 2DQ