Mid-Terrace Property with Existing HMO Licence

Situated within a prime central location close to Plymouth University and the Train Station, is this mid-terrace period property used for many years as a HMO (House of Multiple Occupancy) but is now being offered for sale via auction as an ongoing investment opportunity. The property currently comprises of seven letting rooms, six of which are let on AST (Assured Shorthold Tenancy Agreements) and are producing £2345 per month (£28,140PA) however, there is opportunity for increase in line with current market value once works have been completed.

Tenure

Freehold

AUCTIONEERS NOTE

The property is currently let and is being sold as an ongoing investment opportunity. Tenancy agreements and further information are included within the legal pack which is available to download via our website free of charge. Please note, whilst the property is let, it does require remedial work throughout and any interested buyer is advised to carry out full due diligence prior to bidding.

ACCOMMODATION

GROUND FLOOR Entrance Hall Room One - 4.19m x 4.37m Room Two - 4.16m x 3.76m Kitchen - 3.17m x 2.77m Studio - 2.14m x 2.72m Shower Room - 0.65m x 1.71m Kitchen - 3.00m x 1.38m FIRST FLOOR Room Three - 3.01m x 3.93m Shower Room - 1.33m x 1.81m Shower Room - 1.59m x 1.79m Shower Room - 1.60m x 2.13m Room Five - 4.18m x 3.33m Room Five Study - 2.56m x 3.14m Room Four - 3.78m x 4.23m SECOND FLOOR Kitchen - 2.65m x 3.21m Room Nine - 2.70m x 4.24m Room Seven - 4.24m x 3.50m Shower Room - 0.74m x 2.19m OUTSIDE Garage

VIEWINGS

Regular block viewing sessions will be provided in the lead up to the auction. Please telephone Auction House South West on 03456 461361 to request a viewing.

FULL DETAILS

Photographs, Dimensions, Floor Plans and Area Measurements (when available) are included within the full property details, online, via our website. All published information is to aid identification of the property and is not necessarily to scale.

NOTICE TO BIDDER

Please be aware that if your Bid is successful on Auction day the exchange of contracts will happen immediately after the Auction.

Energy Efficiency Rating (EPC)

Current Rating EPC Rating E49 The Annexe E43

Local Authority

Plymouth City Council

Solicitors

Howard & Over Solicitors, Ref: Donna Baker, Tel: 01752 556606

Offered in association with

DC Lane

Additional Fees

Administration Charge - £1200 inc VAT payable on exchange of contracts.

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.