137 Merridale Road, Wolverhampton, WV3 9RL

6 Bedroom HMO Investment Property in Wolverhampton

Guide price*

£175,000+

Plus fees

Sold Prior to auction, for an undisclosed amount

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Finance available on this property

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Lot 68 Residential Investment
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Auction details:

Wednesday 3rd July 2019 @ 10:30AM

Holte Suite, Aston Villa FC, Trinity Rd, Birmingham B6 6HE

A Freehold HMO Residential Investment Property Current Gross Income: £15,600 pa Potential Gross Income: £28,200 pa

Property Description

An end terraced property which has been well converted into a HMO of 6 bedrooms but also has the potential to convert the existing shared sitting room into a self-contained bedsitting room. The property is set back from the road behind a small foregarden with footpath approach.

Accommodation

Ground Floor: Entrance Porch, Hall, access to Cellar, shared Living Room (which now has planning permission to convert into a self-contained bedsitting room), Dining Kitchen, Bathroom and WC, Bedsitting Room 1 (double) with Shower and Wash Hand Basin.
First Floor: Landing, Shared WC, Laundry Area, Bedsitting Rooms 2 and 3 (singles) with Shower and Wash Hand Basin, Bedsitting Rooms 4 and 5 (doubles) with Shower and Wash Hand Basin.
Second Floor: Landing with access to Loft Storage, Bedsitting Room 6 (double) with Shower and Wash Hand Basin.
Outside: Front and Rear Gardens with ample hard standing parking for 2 cars at the rear accessed via Pine Close.

The property has the benefit of gas fired central heating, UPVC double glazing and the property has been granted a HMO Licence and has a fire alarm.

Energy Performance Rating

E

Tenure

Freehold – Subject to the existing tenancies.

Planning

Planning permission has been granted under Application 17/00946/FUL by Wolverhampton City Council.

Viewings

Strictly by appointment with the Auctioneers.

Tenancy

Room Term Rental
Room 1: Assured Shorthold Tenancy Holding Over £325 pcm
Room 2: Currently Vacant - Potential £325 pcm -
Room 3: Currently Vacant - Potential £325 pcm -
Room 4: Assured Shorthold Tenancy Holding Over £325 pcm
Room 5: Assured Shorthold Tenancy for 3 years from 1st February 2019 £325 pcm
Room 6: Assured Shorthold Tenancy for 3 years from 1st February 2019 £325 pcm
Current Gross Rental Income pcm: £1,300
Current Gross Rental Income pa: £15,600
Potential Gross Rental Income pa: £28,200
DISCLAIMER

Bond Wolfe or their Agents for the seller of these Lots give notification that any particulars contained within the catalogue/website are prepared to the best of their knowledge and all potential buyers should make their own enquiries and investigations to the accuracy of the information contained in these particulars. Any amendments to the particulars that Bond Wolfe are aware of will be published on the addendum, which is available within the lot information.

REMOTE BIDDING AUCTION

Please note that the Auction will be livestreamed via our website with Remote Bidding by Proxy, Telephone or Internet Only.  You must pre-register to bid for each auction no later than 24 hours prior to the auction.  Please click here for further details.

*DEFINITION OF GUIDE & RESERVE PRICE

All properties are sold subject to a reserve price, which is the minimum price the seller is willing to accept and is confidential between the seller and Auctioneer. The guide price is only an indication as to where the reserve is currently set and not necessarily the Auctioneers expectation of what it will sell for. If the guide price is a bracket figure, then the reserve price cannot be higher than the top end of the guide price, if the guide price is a fixed figure, then the reserve cannot be more than 10% above the guide price. The guide price and reserve price can be subject to change at any time up to and including the auction day and, properties can often sell for substantially more than the quoted guide price.

COSTS AT AUCTION

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The sale of each lot is subject to an administration fee of £1,680 inc VAT (£1,400.00 + VAT) (unless otherwise stated in the important information), payable on the fall of the gavel/at the end of the online auction.  Please note that the administration fee for
the Local Authority lots may differ and all interested parties should enquire directly with the Auctioneers as to the fee applicable.

Any additional costs excluding the administration fee will be listed in the Special Conditions within the legal pack and these costs will be payable on completion. The legal pack is available to download free of charge under the ‘lot information’.  Any stamp duty and/or government taxes are not included within the Special Conditions within the legal pack and all potential buyers must make their own investigations.

Remote bidding registration