A spacious and well-presented end of terrace house currently arranged as a 5 bedroom HMO. The property is situated in a fantastic location on Park Street, Worcester and is within walking distance of the city centre. 4 of the 5 rooms are currently let, we anticipate an annual return of approximately £28,480 once fully occupied. To the rear, there is a garden and further garage that benefits from full planning consent to demolish and create an off-street parking space. A fantastic, high-yielding opportunity for investors.
FOR SALE BY AUCTION -
This property is due to feature in our online auction on 4th November 2021 at 6.00pm. Bidding is via proxy, telephone or online remote bidding.
5 BEDROOM HMO WITH POTENTIAL RENT OF £28,480
An attractive end of terrace house, currently arrange as a 5 bedroom HMO. The property benefits from 5 double-bedrooms (2 with en-suite), modern kitchen/diner and separate lounge. There is a low maintenance garden and a garage to the rear with consent to be demolished and replaced with an off-street parking space. The property is currently let producing £22,840 however a return of £28,480 will be achievable one the final room is let. A superb opportunity for buy-to-let investors to acquire a high-yielding investment.
TENANCY DETAILS -
GF Front Bedroom - Let on an AST at £455 PCM
FF Front Bedroom - Vacant, available at £470 PCM
FF Rear Bedroom - Let on an AST at £455 PCM
TF Front Bedroom with en-suite - Let on an AST at £496.67 PCM
TF Rear Bedroom with en-suite - Let on an AST as £496.67 PCM
Current annual rent - £22,840
Annual Rent once fully occupied - £28,480
The property is situated on Park Street in Worcester, within walking distance to the city centre and close to Fort Royal Park. There are excellent transport links locally and access to a wealth of amenities.
Please refer to floorplan for approximate room measurements and internal layout.
GROUND FLOOR -
Comprising a bedroom, lounge and kitchen/diner.
FIRST FLOOR -
Comprising two bedrooms and a shared bathroom.
SECOND FLOOR -
Comprising two bedrooms each with an en-suite.
Comprising an enclosed rear garden and garage/parking behind.
ENERGY PERFORMANCE CERTIFICATE -
BUYER'S PREMIUM -
Please be advised that all purchasers are subject to a £1,000 plus VAT (£1,200 inc VAT) buyer's premium payable upon exchange of contracts.
*GUIDE PRICE -
Guide Prices are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to Reserve Price (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
RESERVE PRICE -
The seller's minimum acceptable price at auction and the figure below which the auctioneer cannot sell. The reserve price is not disclosed and remains confidential between the seller and the auctioneer. Both the guide price and the reserve price can be subject to change up to and including the day of the auction.
PROXY, TELEPHONE & ONLINE REMOTE BIDDING -
The auction will be held online via live video stream with buyers able to bid via telephone, online or by submitting a proxy bid. You will need to complete our remote bidding form, which is available to download from our website. The completed form, ID (driving licence or passport and a recent utility bill stating the home address of the purchaser) and a cheque/bank transfer for the Preliminary Deposit must be received no later than 24 hours before the date of the auction.
PRELIMINARY DEPOSITS -
The Preliminary Deposit required for each lot you wish to bid for will be calculated based upon the Guide Price as follows:
£1,000 - £50,000: £2,000
£51,000 - £150,000: £5,000
£151,000 and above: £10,000
If your bid is successful, the balance of the deposit monies and Buyer's Premium (£1,200 inc VAT) must be transferred to our client account within 24 hours of the auction sale. If you are unsuccessful at the auction, your Preliminary Deposit will be returned to you.
Maggs & Allen use all reasonable endeavours to supply accurate property information in line with the Consumer Protection from Unfair Trading Regulations 2008. These property details do not constitute any part of the offer or contract and all measurements are approximate.
It should not be assumed that this property has all the necessary Planning, Building Regulation or other consents. Any services, appliances and heating system(s) listed have not been checked or tested. Please note that in some instances the photographs may have been taken using a wide angle lens.
Any site and floor plans provided are for indicative purposes only and should not be relied upon.