Lodge Lane, Spondon, Derby, Derbyshire

Full Description

** FOR SALE BY AUCTION ON Thursday 31st August 2023 at 10am **

The National Property Auction will be broadcast live on our website and open to remote bidding online, on the phone and by proxy. Registration for bidding will close at 5pm the day before the auction.

In conjunction with SDL Property Auctions.

Property Description:

Block of 4 flats and 3 building plots.

A superb development opportunity comprising of a substantial property offering 4x self contained flats along with a building site with planning permission for 3x detached dormer bungalows.

The block of flats are fully let at £20,400 per annum. – 3x One Bed Flats and 1x Studio Flat.

Adjacent land with planning permission granted for 3x detached dormer bungalows.

Planning Ref 20/00686/FUL

Each bungalow will offer two bedrooms and two bathrooms along with gardens and parking. Full information regarding the building plot is available on Derby City council website.

Flat 1 (Ground Floor)

Lounge, Kitchen, Bedroom, Bathroom

Flat 2 (Ground Floor)

Hall, Lounge, Kitchen, Bedroom, Bathroom

Flat 3 (First Floor)

Hall, Lounge, Kitchen, Bedroom, Bathroom

Flat 4 (First Floor)

Lounge / Bedroom, Inner Hall, Kitchen, Bathroom

Planning Permission for Three New Build Bungalows

Each bungalow will comprise of: Hall, Lounge, Kitchen, Bathroom, 2 bedrooms and en-suite. Gardens and parking for 2 cars. Planning Ref: 20/00686/FUL

Potential

May be suitable for alternative uses, subject to obtaining the necessary consents. Prospective buyers must make all necessary independent enquiries in this respect for their specific, intended use prior to placing their bid, as this will be binding.

Draft Sales Details

These sales details are awaiting vendor approval.

Tenure:

Freehold. Subject to tenancy.

Auction Details

The sale of this property will take place on the stated date by way of Auction Event and is being sold as Unconditional with Variable Fee (England and Wales).

Binding contracts of sale will be exchanged at the point of sale.

All sales are subject to SDL Property Auctions’ Buyers Terms.

Auction Deposit and Fees

The following deposits and non- refundable auctioneer’s fees apply:

• 5% deposit (subject to a minimum of £5,000)

• Buyer’s Fee of 4.8% of the purchase price for properties sold for up to £250,000, or 3.6% of the purchase price for properties sold for over £250,000 (in all cases, subject to a minimum of £6,000 inc. VAT). For worked examples please refer to the Auction Conduct Guide.

The Buyer’s Fee does not contribute to the purchase price and will be considered as part of the chargeable consideration for the property in the calculation of stamp duty liability.

There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.

Additional Information

For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions’ home page.

This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack.

Guide Price & Reserve Price

Each property sold is subject to a Reserve Price. The Reserve Price will be within + or – 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.
Block of Four Flats
Great Investment Opportunity
Rental Income of £20,400 per annum
Freehold. Subject To Tenancy
EPC Ratings: C, E, E, D
Council Tax Band: A, A, A, A

Referral Fees

We recommend our preferred partner law firms who are solicitors selected by Us for their experience and efficiency in providing conveyancing services. We receive a referral fee of £225 - £250 per completed transaction. They are independent professionals upon whom You can rely for independent and confidential advice. Their conveyancing charges are available on request. We recommend our preferred partner Mortgage intermediaries who are mortgage specialists available to provide you with the advice you need and who will take care of everything from explaining options and helping you select the right mortgage, to choosing the most suitable protection for you and your family and handling the whole application process. We receive a referral fee of approximately £350 per completed transaction. We recommend our preferred partner Insurance Company who provide Buildings and Contents Insurance. We receive a referral fee of approximately £25 per completed transaction. We recommend our preferred partner Removal Company for home removals. We receive a referral fee of £50 per completed transaction. Prospective purchasers are NOT obliged to use our preferred partner services.