2 bedroom Terraced House in Gainsborough

11 Portland Terrace, Gainsborough DN21 1JR
  • Lot No: 117
  • Property Type: Terraced House
  • Contract Type: Unconditional with Variable Fee

Guide Price* £5,000 - £10,000 plus fees

Result Sold at Auction £27,000

Property Description

A 2 bedroom mid terraced property in a central location with a good demand locally for rental properties. This property has been subjected recently to a fire and as such would need a scheme of works to bring it back to its former glory and be ready to once again to provide rental accommodation to an ever growing list of tenants in the area. Rental income for this property once renovated could deliver a yearly income revenue of approximately £6k per year. We have been informed (SDL have not inspected the property) that there are 2 bedrooms and a bathroom upstairs and a reception room and kitchen downstairs.

Note

Please be advised the auctioneers have not personally inspected the property. Prospective buyers are advised to make necessary independent enquiries before placing their bid, as this will be binding. SDL have been informed that the property consists of a reception room and kitchen downstairs, with upstairs having 2 bedrooms and a bathroom.


Additional Information:

Construction Material: Standard brick. Services: TBC. Heating: Boiler, mains gas. Coverage: Broadband - Standard, Ultrafast and Superfast is available in this location. Mobile signal - O2, vodafone and Three show as high in this area, and EE as low. Satellite and Cable - BT, Sky and Virgin show as available in this area.


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 Variable Fee (England and Wales). 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 fees apply:
  • 5% deposit (subject to a minimum of £5,000)
  • Buyer’s Fee of 4.8% of the purchase price for properties sold for up to £250,000, or 3.6% of the purchase price for properties sold for over £250,000 (in all cases, subject to a minimum of £6,000 inc. VAT). For worked examples please refer to the Auction Conduct Guide.
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 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.

Auction Details

Date 27th March 2024

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

11 Portland Terrace, Gainsborough DN21 1JR