For Sale by Auction - Two Bedroom Ground Floor Flat – Investment Opportunity - Flat 1, The Melbourne, Drewry Court, Uttoxeter New Road, Derbyshire, DE22 3XH - Guide Price £62,500+

Extra Details

Property Details

• Auction date: 12th & 13th December 2023
• Guide price: £62,500+
• Two bed ground floor flat
• Currently rented at £600 pcm
• 999 year lease from March 1990
• Ground rent £25 per annum
• Sold with tenants in situ
• Opportunity to add value
• Good rental location
• Total floor area of 553 ft2

Overview
The flat is accessed from a ground floor communal entrance door on Drewry Court, immediately to the north of Drewry Lane. There is vehicular access from Uttoxeter New Road which runs parallel with Drewry Lane to the north. Derby City centre is approximately ½ mile directly to the east.

On entering the flat, off the hallway to the right hand side is Bedroom 2 and to the left hand side is the bathroom. To the rear of the flat on the left hand side there is a door into the open plan sitting room and kitchen. On the opposite side of the sitting room to the rear right hand side of the flat is the master bedroom.

The kitchen has been fitted with high and low level cupboards, a single sink and drainer with separate hold and cold taps, tiled splash backs and integrated oven with electric hobs and extraction hood. The bathroom has a bath with overhead electric shower, sink with mixer tap, W.C and tiled walls.

There is communal car parking available for residents within Drewry Court.

Floor Area
Total floor area of 51.45 m2 / 553 ft2
(taken from floorplan)

Services
We understand the property to have mains electricity, water and drainage.

The services have not been inspected by John Pye Property and we recommend that interested parties complete their own investigations in this respect.

Investment Analysis
The flat is rented at £600 per calendar months (£7,800 pa), reflecting a gross yield of approx. 12.48% based on the current guide price.

Tenure
Long leasehold. The lease is for 999 years from 24 March 1990. The annual ground rent is £25 per annum.

Service Charge
Please see legal pack.

Council Tax
The property is rated within council tax band A. The council tax payable for 2023/24 is £1,339.41.

Viewings
Please contact John Pye Property on 0115 9706060 or property@johnpye.co.uk

Guide Price
£62,500+

Buyer’s Premium
2.5 % (min. £4,000) inc. VAT

EPC
https://find-energy-certificate.service.gov.uk/energy-certificate/8502-0728-4010-0811-6206

Legal Pack
Please refer to the legal pack for this lot johnpye.auctiondocs.com

Sell Your Property
If you are thinking of selling your property, contact us now for a free appraisal and benefit from:
• 0% Seller Fee
• £0 Entry Fee
• £0 Marketing Costs
• 20 Working Day Completion
• Monthly auctions