This property is for sale by the Modern Method of Auction which is not to be confused with Traditional auction. The Modern Method of Auction is a flexible buyer friendly method of purchase. We do not require the purchaser to exchange contracts immediately, but grant 28 days to achieve exchange of contracts from the date the buyer’s solicitor is in receipt of the draft contracts and a further 28 days thereafter to complete. Allowing the additional time to exchange on the property means interested parties can proceed with traditional residential finance. Upon close of a successful auction or if the vendor accepts an offer during the auction, the buyer will be required to put down a non-refundable Reservation Fee of 4.2% inc VAT subject to a minimum of £6000 inc VAT which secures the transaction and takes the property off the market. The buyer will be required to sign an Acknowledgment of Reservation form to confirm acceptance of terms prior to solicitors being instructed. Copies of the Reservation form and all terms and conditions can be found in the Legal Pack which can be downloaded for free from the auction section of our website or requested from our Auction Department. A seven bedroom freehold investment opportunity within the city centre. The property in brief comprises entrance hallway, two ground floor bedrooms with a further self contained ground floor apartment, first floor landing with two shower rooms with W/C, three further rooms with fitted kitchen units, second floor landing with large eaves storage housing combination boiler with a further bedroom benefiting from en suite shower room and fitted kitchen units. Four of the bedrooms are currently rented out on a rolling contract basis with an annual income of £19,680.
- For sale by auction - T& C's apply
- Subject to an undisclosed reserve price
- Buyer's fees apply
- City Centre investment opportunity
- Seven bedroom freehold investment
- The modern method of auction
Two ground floor rooms benefiting from fitted kitchen units with integrated stainless steel inset sink units. The third room has the added bonus of a separate kitchen, bathroom and W/C.
Room 1 is currently rented on a periodic tenancy with a rental income of £270 PCM
Room 2 is currently vacant
Room 3 is currently rented on a periodic tenancy with a rental income of £450 PCM
To the first floor there are a further three bedrooms with two separate shower rooms with wash hand basin and low level WC.
Bedroom 4 is currently vacant
Bedroom 5 is currently rented out on a periodic tenancy with a rental income of £395 PCM
Bedroom 6 is currently vacant
There is useful eaves storage that leads to the combination boiler.
Bedroom 7 is currently rented out on a periodic tenancy with a rental income of £525 PCM
The property did have a HMO licence which is currently in the process of being renewed with Coventry City Council.