16 bedroom detached house

An extrordinary opportunity to purchase a lot of 8 houses in Lodge Court, Donnington. For sale via auction £960,000 Guide. Each property requires some modernisation but offer a great investment opportunity. Estimated Rental Values of £800+ PCM. Two further properties on this development are also available at auction with our partners SDL. Please ask for more information.

Please copy and paste the above link into your browser to see the auction listing and register to bid.

The current owner constructed these properties circa 20 years ago and is now looking to offload. Each house is on an individual title whilst the main drive and parking area is also on a separate title. 8 Houses and the parking area are included in this Lot.

Property Condition

1 Property is ready for immediate re-let. 3 properties are currently occupied with tenants having been served notice. 7 of the 8 houses will require refurbishment.

Rental

We have been advised and seen evidence of an offer of a 5 year deal to take all 8 houses at a rent of £850 PCM on a 5 year deal. Normal market value expected is £800 PCM. The houses must be renovated to rental specification to be able to allow the assisted living company to take a 5 year lease.

This development would make an excellent assisted living development being tucked away in a quiet residential location with only a couple of neighbours surrounding. The site would also offer a great return on investment to buy to let investors.

VAT:
No Vat is payable on this transaction.

Management Company and Site:
Please note that the development currently has no management company, service charge or road maintenance charge as the site has always been owned in its entirety by the current owner.

Draft Sales Details These sales details are awaiting vendor approval.

Tenure: Freehold

EPC Rating: C x8

Terms:
Auction Details:

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.