Property for sale in Rothesay Avenue, Nottingham NG7

Having an existing HMO license and a fully occupied student tenancy in situ - which is currently generating an annual income of £31,200p/a over a 48-week term.

This investment opportunity also has the added benefit of a further security of tenue for the Sept 2024 – Aug 2025 academic year, at the same rate of yield proving future demand.

Being a student property, a series of renovations are undertaken between tenancies to ensure a high standard of property condition and also ensuring a regular maintenance regime from past to present.

The tenancy is also fully managed by the current manging agent who is also the party that has been successful in securing the future tenancy, so early into the present academic year.

The property briefly comprises of 5 private and self-contained bedrooms, one bathroom and one living/reception room and a good-sized kitchen with all appliances included in the sale. All present furnishings together with fixtures and fittings would also be included in the sale of the property.

As you would expect all Electrical installations, Gas, pat test certificates are up to date.

On street parking is available for the occupants via the use of a residents permit and there is also a local convenience store on the corner of the street - made famous by the recent purported ‘Banksy’ Artist’s child with bike piece

Looking for a great investment opportunity on one of Nottingham’s most recently publicised street corners....? Look no further!

Disclaimer

These sales particulars have been prepared by Belvoir Nottingham Central upon the instruction of the vendor. Any services, equipment and fittings mentioned in these sales particulars have not been tested, and accordingly, no warranties can be given.

Prospective purchasers must take their own enquiries regarding such matters. These sales particulars are produced in good faith and not intended to form part of a contract.

Auction Details

This property is for sale by the Modern Method of Auction. Should you view, offer or bid on the property, your information will be shared with the Auctioneer, iamsold Limited This method of auction requires both parties to complete the transaction within 56 days of the draft contract for sale being received by the buyers solicitor (for standard Grade 1 properties). This additional time allows buyers to proceed with mortgage finance (subject to lending criteria, affordability and survey). The buyer is required to sign a reservation agreement and make payment of a non-refundable Reservation Fee. This being 4.5% of the purchase price including VAT, subject to a minimum of £6,600.00 including VAT. The Reservation Fee is paid in addition to purchase price and will be considered as part of the chargeable consideration for the property in the calculation for stamp duty liability. Buyers will be required to go through an identification verification process with iamsold and provide proof of how the purchase would be funded. This property has a Buyer Information Pack which is a collection of documents in relation to the property.

Auction Details

The documents may not tell you everything you need to know about the property, so you are required to complete your own due diligence before bidding. A sample copy of the Reservation Agreement and terms and conditions are also contained within this pack. The buyer will also make payment of £300 including VAT towards the preparation cost of the pack, where it has been provided by iamsold. The property is subject to an undisclosed Reserve Price with both the Reserve Price and Starting Bid being subject to change.
Referral Arrangement
The Partner Agent and Auctioneer may recommend the services of third parties to you. Whilst these services are recommended as it is believed they will be of benefit; you are under no obligation to use any of these services and you should always consider your options before services are accepted. Where services are accepted the Auctioneer or Partner Agent may receive payment for the recommendation and you will be informed of any referral arrangement and payment prior to any services being taken by you.

Auction Details

The buyer is required to sign a reservation agreement and make payment of a non-refundable Reservation Fee. This being 4.5% of the purchase price including VAT, subject to a minimum of £6,600.00 including VAT. The Reservation Fee is paid in addition to purchase price and will be considered as part of the chargeable consideration for the property in the calculation for stamp duty liability. Buyers will be required to go through an identification verification process with iamsold and provide proof of how the purchase would be funded. This property has a Buyer Information Pack which is a collection of documents in relation to the property.