Property details
For Sale By Public AuctionAn exciting opportunity to buy this three-bedroom semi-detached property, offering an ideal buy-to-let investment. There is currently a tenant in situ, however, notice to vacate has been served on the tenants and we have been advised they are due to vacate early October. The property is currently producing a lower-than-average yield due to a long-standing tenant however with some renovations throughout the property it could achieve a healthy gross yield of around 9% (Based on the auction guide price).
The deceptively spacious property located in the popular residential location of Walsgrave, Coventry offers well-proportioned accommodation throughout. In brief, there is an entrance hallway that leads to the downstairs rooms including the lounge, kitchen diner, and conservatory and to the first floor, three spacious bedrooms and the family bathroom can be found. Externally the property is complete with a lawned garden with a paved patio, an integral garage, and off-street parking.
The investment property is situated within walking distance of University Hospital and in proximity of some excellent local amenities suggesting the property is likely to attract a professional tenant, should the buyer decide to use the property for buy-to-let purposes . Access to major road networks and motorway links are just a short drive away as well as being a short driving distance into the city centre.
We are awaiting the floorplan for this lot, however it will be uploaded once received.
Auction Details:
Sheldon Bosley Knight Land and Property Auction
Wednesday 16th October at 6.00 pm
Hinckley Golf Club
Auction Terms
The property will unless previously withdrawn, be sold subject to the Special and General Conditions of Sale, which have been settled by the Vendor’s Solicitor and are contained within the Auction Legal Pack. This pack is available to download to registered bidders. The conditions may also be inspected in the Sale Room at the time of the sale but they will not then be read. The purchaser shall be deemed to bid on those terms whether he shall have inspected the Conditions or not.
The sale of this property will take place on the stated date by way of a live, in-room auction and is being sold as Unconditional with a Fixed Fee. Some sellers may consider a pre-auction offer, and the Lot may be sold or withdrawn before the auction.
Binding contracts of sale will be exchanged at the point of sale.
Auction Deposit and Fees
The following deposits and non-refundable auctioneer’s fee apply:
• 10% deposit (subject to a minimum of £5,000)
• Buyer’s Premium of £1320 inc. VAT
There may be additional costs listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. These additional costs will be payable to the seller’s solicitor on Completion. You must read the Legal Pack carefully before bidding.
Guide Price & Reserve Price
The guide price offers an indication of the price below which the vendor is not willing to sell. It is not necessarily the exact final sale price and is subject to change prior to and up until the day of the auction. Any change in the guide price will reflect a change in the reserve (a figure below which the auctioneer will not be able to sell). The reserve can be expected to be set within the guide range or not more than 10% above a single-figure guide. (RICS Common Auction Conditions 4th Edition).
Plans
Plans shown are for identification purposes only.
Services
It is understood that the property is connected to mains water, sewerage, gas and electricity, though these services have not been tested.
Directions
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Tenure and Possession
The property and land are freehold. Possession will be given upon completion which is normally 20 working days after the auction. The property is being sold with a tenant in situ on an AST, although notice has been served on the tenant to vacate. Please refer to the Legal Pack for further details.
Bidder Registration and Auction Legal Pack
If you would like to register to bid, please head to the following link: passport.eigroup.co.uk/bidder-registration/sheldon-bosley-knight/
You can opt to bid in person, online, by telephone or by proxy. You will also be able to download the Auction Legal Pack for the Lot you are interested in here: auctioneertemplates.eigroup.co.uk/guides.aspx?a=1236&c=sbk
The Auction Passport requires you to input the details of your solicitor. If you would like to use our own preferred solicitors, please let us know and I will arrange for a quote to be sent to you.
If this is the first time you have accessed Auction Passport, just press the green button on the left-hand side ‘Click here to sign up for free' to create a new account.
Legal Documents & Additional Costs
It is essential bidders check the legal documents prior to bidding and take professional advice. Special Conditions of Sale can contain additional costs (that is costs over and above the price the lot is ‘knocked down’ at) and bidders are deemed to be aware of any additional costs prior to bidding.
Viewings
All viewings are by appointment only through the Auction Department
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Property location
Property Floorplan
