12 Bedroom Semi-Detached for sale

Property description

A substantial three storey period style semi detached house arranged over three floors plus basement. The property is currently let by way of a 4 year Lease which expires in July 2016 and there is a break clause in July 2015 for a rental increase or the tenants vacate with one months notice.

The property is fully licensed as a 12 bed HMO. At present it is being used as 10 bedrooms including an office and Store room producing in excess of £15,600 per annum. The property benefits from double glazing, two kitchens, 3 bathrooms and central heating.

Alternatively if let as an HMO Investment at £60.00 per room the annual rental income would be in excess of £37,000.

GUIDE PRICES & RESERVE PRICES

Guide Price
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.

Reserve Price
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.

Property Features :

• SUTTON KERSH ARE PLEASED TO OFFER FOR SALE BY PUBLIC AUCTION ON : 10-SEP-2015
• LOT NUMBER : 16
• 12 BED HMO INVESTMENT PRODUCING £15,600 BENEFITTING FROM DOUBLE GLAZING AND CENTRAL HEATING.
• Residential Investment