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Terms and Conditions

By submitting a bid you confirm, you have read and understood the terms of sale and special conditions in the legal pack and have clarified all information with your solicitor.

If you’re the successful bidder, you agree to pay the deposit amount and fees and charges associated with this property immediately after the end of the auction.

By placing a bid, you are authorising the auctioneer to sign the contract of sale on your behalf. The exchange of contracts will take place immediately and which point you will become legally bound to purchase and the deposit will contribute towards the purchase price.

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7 Bedroom HMO, Plymouth, PL1 5BD

Hastings Terrace, Stonehouse, Plymouth, UK

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£175,000

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End: 05-11-2020 14:00:00

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The sale of this lot is subject to an auction administration fee, the greater of £2,500 + VAT or 1.75% +VAT of the purchase price.
  • Freehold
  • 7 Bedrooms
  • 1 Reception Room
  • 2 Bathrooms
  • HMO Licence
Halford And Homes
01752 418104

1 Weston Park Road, Plymouth, UK, PL3 4NS

  • Freehold
  • 7 Bedrooms
  • 1 Reception Room
  • 2 Bathrooms
  • HMO Licence
Halford And Homes
01752 418104

1 Weston Park Road, Plymouth, UK, PL3 4NS

3 Hastings Terrace, Stonehouse, Plymouth,  PL1 5BD

Guide Price - £175,000 + 

A FREEHOLD HMO INVESTMENT

 

Property Description

Located in close proximity to Plymouth City Centre is this well presented HMO (House in multiple occupation) property. Currently partially let but boasting a potential gross income in the region of £27,000 per annum when fully occupied. The accommodation to the ground floor briefly comprises of entrance hallway, open plan lounge/diner/kitchen (with modern appliances and chesterfield style sofas), two letting rooms and a ground floor cloakroom, w/c. The first floor includes three letting rooms and a shower room. The top floor includes a further two letting rooms, second kitchen and shower room. Boasting seven decent sized letting rooms this has the potential to create a good income for any landlord wishing to invest. Externally the property is accessed directly from the street, whilst the rear has a small low maintenance courtyard garden. Other benefits to the property include gas fired central heating and double glazing.

 

Accommodation (The following is a guideline and we advise any potential buyers to satisfy themselves with the information provided).

Entrance Hallway

Lounge/Diner/Kitchen 18' 4'' X 11' 8'' (5.58m X 3.55m)

Inner Lobby

Cloakroom - Ground Floor W/C

Letting Room (Room 7 On Floorplan) 10' 0'' X 9' 1'' (3.05m X 2.77m)

Letting Room (Room 8 On Floorplan) 9' 2'' X 6' 10'' (2.79m X 2.08m)

First Floor Landing

Letting Room (Room 6 On Floorplan) 8' 11'' X 8' 10'' (2.72m X 2.69m)

Shower Room

Letting Room (Room 4 On Floorplan) 14' 1'' X 8' 7'' (4.29m X 2.61m)

Letting Room (Room 5 On Floorplan) 10' 7'' X 7' 1'' (3.22m X 2.16m)

Second Floor Landing

Letting Room (Room 3 On Floorplan) 9' 1'' X 9' 0'' (2.77m X 2.74m)

Letting Room (Listed As Room 2 On Floorplan) 13' 11'' X 9' 4'' (4.24m X 2.84m)

Shower Room

Second Kitchen

 

TENANTCY SCHEDULE -

Room Rental Term
Room 1 VACANT  
Room 2 £375 PCM - £4,500 PA Currently on rolling periodic tenancy
Room 3 £340 PCM - £4,080 PA 6 Months from 23rd August 2020
Room 4 VACANT  
Room 5 VACANT  
Room 6 VACANT  
Room 7 £325 PCM - 3,900 PA Currently on rolling periodic tenancy
     
     
Total Gross Income: £1,040PCM  - £12,480PA  

 

Energy Performance Rating

See Legal Pack

 

Auctioneers Note

The deposit for exchange of contracts on this property is 5% subject to a minimum of £5,000.

The completion period for this property is 8 weeks (56 days)

 

Starting Bid and Reserve Price

*The Reserve Price is the minimum price at which the auctioneer is authorised to sell the lot at auction which is generally no more than 10% in excess of the guide price. The lot may be sold to the highest bidder at or above the Reserve Price but the auctioneer is not authorised to accept a bid below the Reserve Price. Reserve prices are subject to change up to the date of the auction. Please note that Lots may be withdrawn prior to the end of auction

 

Disclaimer

These particulars, whilst believed to be accurate are set out as a general outline only for guidance and do not constitute any part of an offer or contract. Intending purchasers should not rely on them as statements of representation of fact, but must satisfy themselves by inspection or otherwise as to their accuracy. No person in this firm’s employment has the authority to make or give any representation or warranty in respect of the property. If the property is currently occupied during the term of the auction but is to be sold with vacant possession, the auctioneer and selling agent take no responsibility if the property is not vacated on or before completion.

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