1 bed Flat - Purpose Built for Sale

• Council Tax Band: A
• Spacious purpose built one bedroomed ground floor flat
• Own separate access with wrap around gardens
• Modern fitted kitchen and bathroom
• Estimated rental income of circa £600 per calendar month (£7,200 per annum)
• Close to the City Centre, Darley Park and Friar Gate
• Gross rental return of approximately 15% based against the guide price
• Offered for sale with immediate vacant possession
• Easy access to Derby University
• EPC Rating: D

***Potential high yielding residential investment opportunity*** Situated in the sought after Five Lamps area, close to the city centre and the fashionable Friar Gate area, is a purpose built, self contained ground floor floor flat with its own separate access and gardens that are wrapped around the property. In our opinion, the property is likely to achieve circa £600 per calendar month (£7,200 per annum). This represents an impressive approximate 15% gross return, based against the guide price. Internally the well equipped, uPVC double glazed living accommodation in brief comprises of entrance hall with airing cupboard, lounge through diner, modern fitted kitchen, double bedroom and bathroom with three piece suite in white with shower. To the rear of the block is a residents parking area. Offered for sale with immediate vacant possession.

The Detail

This well-appointed one-bedroom apartment offers practical living in the heart of Derby. Located on the ground floor of Five Lamps Court, the property features a bright and airy living room, a separate fully-fitted kitchen with appliances, and a modern bathroom. The generously sized double bedroom provides ample space for storage. Outside, the apartment benefits from its own private garden, ideal for enjoying outdoor relaxation. With excellent local amenities just a short walk away, including shops, cafes, and Derby University, this property offers both comfort and convenience.

The Location

The property is located a short walk away from Derby City Centre and also within close proximity is the Cathedral Quarter which offers a range of bars, hotels, restaurants and boutiques. Derby city centre also offers the Derbion shopping centre with its many major retail outlets.

Markeaton Park and the University of Derby are easily reached from the Derby Ring Road which in turn offers access to the A38, A52 and A50 trunk roads which gives access onto the onward motorway network. There are regular bus services along Ashbourne Road to the city centre. Ashbourne and the Royal Derby Hospital are also easily reached.

Leasehold Information

Leasehold Information
125 years from 1 March 1990. Any ground rent and service charge review periods will be confirmed in the lease documents within the legal pack.

Tenure:
Leasehold. Vacant possession upon completion.

Ground Rent
£40

Unexpired Years
89

Annual Service Charge
£1,560

Auction Details

The sale of this property will take place on the stated date by way of Auction Event and is being sold under and 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 & Fees

The following deposits and non- refundable auctioneers fee apply:

• 10% deposit (subject to a minimum of £5,000)

• Buyers Fee of 1.2% of the purchase price (subject to a minimum of £1,500 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.