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FOR SALE BY AUCTION ON WEDNESDAY 20TH NOVEMBER 2024 COMMENCING AT 11AM - SALE VIA A LIVE STREAMED AUCTION
GUIDE PRICE: £125,000 to £150,000
VIEWINGS - BY APPOINTMENT ONLY
An exceptionally well-presented, fully licensed four-bedroom HMO located on the outskirts of Corby, offered with vacant possession. Previously let for £2,500 per calendar month, the property provides approximately 900 square feet of accommodation across three floors. The current owner has converted the garage into an additional room, complete with its own kitchen and ensuite shower room. On the first floor, there is a bedroom with a kitchen area, a combined breakfast/lounge space, and a WC. The top floor comprises three additional rooms and a bathroom. Externally, the property benefits from off-road parking at the front. The property has historically generated £30,000 per annum, yielding a 20% return.
Enter via a part glazed PVCU door from the side elevation, there are stairs rising immediately to the first floor with a door leading through to:-
5.05m x 2.39m (16'07 x 7'10)
Space for a bed with a divide to the kitchen area where there is low level and eye level storage cabinets with integrated appliances, stainless steel sink and drainer with a window to the front elevation. There is a further door leading through to:-
1.75m x 0.84m (5'09 x 2'09)
A fully tiled wet room is presented with WC an wash hand basin.
With window to the front elevation with stairs rising to the second floor and there are doors leading through to:-
5.08m x 2.31m and 2.46m x 2.06m (16'08 x 7'07 and
With a window to the rear elevation and electric heater with wood surround.
3.20m x 2.29m (10'6 x 7'06)
With a window to the front elevation there is a range of floor and wall mounted cabinets with stainless steel sink and drainer, space for appliances and an archway leading through to:-
2.51m x 1.96m (8'03 x 6'05)
With continued tiled floor.
1.78m x 0.79m (5'10 x 2'07)
With a window to the front elevation, WC and wash hand basin.
A window to the side elevation with storage and doors leading to:-
2.44m x 2.01m (8'0 x 6'07)
With a window to the side elevation and carpet fitted.
3.68m x 2.95m (12'01 x 9'08)
With a window to the rear elevation, space for a double bed and carpet fitted.
3.99m x 2.49m (13'01 x 8'02)
With a window to the front elevation and carpet fitted.
2.39m x 1.47m (7'10 x 4'10)
Suite comprising of bath with power shower over, WC, wash hand basin and radiator. A sliding door to the airing cupboard which contains a combination Baxi boiler.
There is off road parking for vehicles to the front.
The property has been previously let on a fully licenced five bedroomed HMO generating £2,500 per calendar month, ranging between £100 and £110 per week for the five rooms. The total gross income is £30,000 per annum, generating a 20% yield.
Main drainage, gas, water and electricity are connected. (None of these have been tested).
North Northamptonshire Council - Band A
*Guides 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 a Reserve (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. Additional Fees and Disbursements will charged to the buyer - see individual property details and Special Conditions of Sale for actual figures.
The purchaser will be required to pay an administration charge of £900 (£750 plus VAT).
The purchaser will be required to pay a buyers premium charge of £1,800 (£1,500 plus VAT).
From Corby Centre proceed west along Cottingham Road, continue to the BP services and take the first exit onto Uppingham Road travelling southbound. Take the second exit on the left onto Saxon Way West turning left then right on Copenhagen Road, the first left onto Minden Close and then the first right proceeding to the end where the property can be found on the right-hand side.
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