** Viewings available Tuesdays and Thursdays - call Blundells for details **
A substantial double fronted semi detached property which has been converted into six self-contained flats currently let and the house has been registered with the University for over 40 years. The flats which have been well maintained by the current vendor and currently generate an annual income of around £30,000 pa but with a re-adjustment to current letting levels we see a projected uplift in annual income of around £40,000. There is accommodation over four floors and around 3433 sq ft of living space. The property sits on a larger than average plot with driveway, communal off road parking to the rear and garden. In addition there is a large detached garage which if converted to a coach house style unit offering an additional income stream if let, this is of course subject to all planning regulated and permissions. The flats have their own meters, with a mixture of Economy 7 and modern efficient electrical heating, all with UPVC windows. The house has 6 tenants in situ let by way of AST’s currently rolling over. This property has been within the same family for over 40 years and offers the buyer a prime opportunity to either convert the house back to a family residence or continue letting and view with a long term investment in a prime location.
Blundells Property Auctions
2 Cotton Street
t. 0114 254 1185
2 Cotton Street
Tel: 0114 254 1185
Disclaimer: On some client's instructions not all properties are available to purchase prior to auction however we will submit all offers on your behalf.
An indication of the seller’s current minimum acceptable price at auction. The guide price or range of guide prices is given to assist consumers in deciding whether or not to pursue a purchase. It is usual, but not always the case, that a provisional reserve range is agreed between the seller and the auctioneer at the start of marketing. As the reserve is not fixed at this stage and can be adjusted by the seller at any time up to the day of the auction in the light of interest shown during the marketing period, a guide price is issued. This guide price can be shown in the form of a minimum and maximum price range within which an acceptable sale price (reserve) would fall, or as a single price figure within 10% of which the minimum acceptable price (reserve) would fall. A guide price is different to a reserve price (see separate definition). Both the guide price and the reserve price can be subject to change up to and including the day of the auction.
The seller’s minimum acceptable price at auction and the figure below which the auctioneer cannot sell. The reserve price is not disclosed and remains confidential between the seller and the auctioneer.
Both the guide price and the reserve price can be subject to change up to and including the day of the auction.
A successful purchaser will also be required to pay a Buyer’s Administration Charge of 1.2% of the purchase price subject to a minimum fee of £1,500 including VAT (unless stated otherwise within the property description in the catalogue) by debit card or bank transfer.
You are bidding on the basis that you have made all necessary enquiries, particularly in respect of lots the auctioneer has not inspected or had initial sight of tenancy details, and have checked the General and Special Conditions of Sale and are satisfied that you fully understand their content. Please note that some legal packs may contain additional fees (such as the requirement for the seller to pay the vendor's legal fees).