Lockington Close, Chellaston

** AUCTION ** This first floor studio apartment is located in the most sought after area of Chellaston and offers a fantastic opportunity for the first time buyer to get a foot on the property ladder or for the experienced property professional to pick up a great investment.

The accommodation in brief comprises: secure entrance lobby, communal landing, open plan living/bedroom space, fitted kitchen, walk in wardrobe and a fitted shower room. Outside them property benefits from communal garden area and communal car park providing ample off road parking.

The apartment benefits from electric heating, uPVC double glazing and off road communal parking and must be viewed to fully appreciated. Lockington Close lies convenient for local amenities including shops and schools together with good road links with the A50, A52, A6, access for East Midlands Airport and the M1 motorway.

Auction Details

In our opinion the property is likely to achieve a gross rental income of £550 pcm (£6,600pa) once improvements have been made, this representing an impressive 20% return based on the guide price.

The sale of this property will take place on the stated date by way of Auction Event and is being sold under an Unconditional sale type.

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

All sales are subject to SDL Property Auctions Buyers Terms. Properties located in Scotland will be subject to applicable Scottish law.

Auction Deposit and Fees

The following deposits and non- refundable auctioneers fees apply:

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

• Buyers Fee of 4.8% of the purchase price (subject to a minimum of £6,000 inc. VAT).

The Buyers Fee does not contribute to the purchase price, however it will be taken into account when calculating the Stamp Duty Land Tax for the property (known as Land and Buildings Transaction Tax for properties located in Scotland), because it forms part of the chargeable consideration for the property.

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 (and any applicable Home Report for residential Scottish properties).

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.
First Floor Studio Apartment
EPC Rating C
Council Tax Band A
Communal Allocated Parking Spaces
Open Plan Living
Great First Time Buy Or Investment Opportunity

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.