Auction to be streamed live on our website www.shonkibros.com
Bidding via Internet | Telephone | Proxy
You will need to pre-register for remote bidding, the form can be downloaded from our website and found within our auction brochure. Please ensure you provide your identification and a complete remote bidding form no later than 24 hours prior to the auction. Please do not hesitate to contact us if you are unsure of the remote bidding process.
DESCRIPTION
Freehold. Large bay fronted property currently split into five bedsits all currently Let providing an excellent investment opportunity.
LOCATION
The property is located on the main A5199 Welford Road within walking distance of the fashionable Queens Road, Victoria Park, Leicester University & all amenities.
ACCOMMODATION
A two storey bay fronted palisaded terrace property which is currently split into five bedsits. Each bedsit has its own kitchenette area. There is also a communal bathroom with separate washroom & W.C. The property benefits from a large cellar providing useful storage. Externally there is a front forecourt & enclosed rear lawned garden.
TENURE
Freehold subject to existing tenancies.
Bedsit 1 (15'7'' x 12'4'' (4.78m x 3.77m) approx. - Let for a term of 6 months from 13th November 2017 (holding over).
Bedsit 2 (12'4'' x 11'6'' (3.77m x 3.53m) approx. - Let for a term of 6 months from 14th April 2018.
Bedsit 3 (12'6'' x 9'7'' (3.84m x 2.95m) approx. - Let for a term of 6 months from 26th April 2018.
Bedsit 4 (14'3'' x 12'7'' (4.35m x 3.87m) approx. - Let for a term of 6 months from 14th August 2015 (holding over).
Bedsit 5 (17'7'' x 13'2'' (5.39m x 4.02m) approx. - Let for a term of 6 months from 19th April 2018.
Current rental income: £14,260.00 per annum.
Estimated full rental income: £21,000.00 per annum.
NOTE
We have been informed by the sellers that the property has been rented as bedsits for the past 40 years therefore complies with Article 4 direction.
The completion date will be on or before eight weeks following exchange of contracts.
ENERGY PERFORMANCE CERTIFICATE
EPC Rating to be confirmed.
| Bedsit/Flat | Tenancy | Rent |
|---|---|---|
| Bedsit 1 | Let for a term of 6 months from 13th November 2017 (holding over) | £55.00 per week (£2,860.00 per annum) |
| Bedsit 2 | Let for a term of 6 months from 14th April 2018 | £240.00 per calendar month (£2,880.00 per annum) |
| Bedsit 3 | Let for a term of 6 months from 26th April 2018 | £240.00 per calendar month (£2,880.00 per annum) |
| Bedsit 4 | Let for a term of 6 months from 14th August 2015 (holding over) | £230.00 per calendar month (£2,760.00 per annum) |
| Bedsit 5 | Let for a term of 6 months from 19th April 2018 | £240.00 per calendar month (£2,880.00 per annum) |
| Total Rental Income: | £14,260.00 per annum | |
| Estimated Full Rental Income: | £21,000.00 per annum | |
SOLICITORS
Headleys Solicitors
39a Station Road, Lutterworth, Leicestershire, LE17 4AP
TEL:
EMAIL:
*GUIDE PRICE & RESERVES
Definition of Guide Prices:
The guide price is an indication of the seller’s current minimum price expectation at auction and the guide price, or range of guide prices, is given to assist prospective purchasers. The guide price can be adjusted by the seller at any time up to the day of the auction in light of the interest shown during the marketing period and bidders will be notified of this change on our website and by the auctioneer prior to the lot being offered.
Definition of Reserve Price:
The reserve price is the seller’s minimum acceptable price at auction and the figure below which the auctioneer cannot sell. It is usual, but not always the case that a provisional reserve is agreed between the seller and the auctioneer at the start of marketing and the Final Reserve Price will be agreed between the auctioneer and the seller prior to the auction sale. Whilst the reserve price is confidential it will usually be set within the quoted guide range and in any event will not exceed the highest quoted guide price.
Buyer’s Fee / Additional Costs
For each Lot, a Buyers' Fee of £1,800.00 inc VAT is payable on the fall of the hammer. Additional charges and fees might be charged by the seller and/or other third parties . You are strongly advised to read the Special Conditions of Sale for the Lot prior to bidding to check for any additional charges and fees and to check the addendum which might also (but does not always) contain details of such amounts.
Disclaimer
All measurements are approximate. Whilst we endeavour to make our sales particulars accurate and reliable, these approximate room sizes are only intended as general guidance. You must verify the dimensions carefully before. Shonki Bros have not tested any apparatus, equipment, fixtures, fittings or services and it is the buyers interests to check the working condition of any appliances. Potential buyers are advised to recheck the measurements before committing to any expense. While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property. These particulars are issued in good faith but do not constitute representations of fact or form part of any offer or contract. The matters referred to in these particulars should be independently verified by prospective buyers or tenants.