Lot 1 - 7 Wellington Square, Nottingham, Nottinghamshire, NG7 1NG
- Unconditional Online Auction Sale
- Guide Price* : £340,000 plus
- 8 Bed HMO
- Great Location
- Currently Let
- Gas central heating
- Double glazing
On Behalf of the Fixed Charge Receivers: 8 Bedroom HMO understood to be currently let at £46,000 per annum (115 pppw ending 20/07/2026 (bills not included) on a 50 week contract*
Description
The property comprises a mid terraced, four storey, eight bedroom HMO. *Up to date details are awaited as to the current tenancy position and will be confirmed prior to the auction. We understand the tenants have a separate agreement with UniHomes for utilities, broadband and TV Licence.
The ground floor has two double bedrooms and a WC, the lower ground floor provides an open plan kitchen/living room with access to the cellar and a rear exist. The first floor comprises two shower rooms and two bedrooms, the second floor has three bedrooms with a further bedroom being located on the third floor. The property
The property has a HMO licence but we understand that it does not have a specific a planning permission, albeit we understand that it has been used as a HMO for for a number of years and the current managing agents have 6 years records available. Interested parties should rely on their own enquiries with the local Council as what licensing is required and planning use permitted going forward.
Location
Wellington Square is ideally located for access to both Universities, with Nottingham Trent University's City Campus approximately 0.5mile to the east and the University of Nottingham's University Park Campus approximately 1.75 miles to the south west. Situated between Lenton and the city centre, the location offers good transport links, with easy access to local bus routes and trams stops within walking distance. The city centre is also within walking distance, being less than 0.75mile to the east.
Tenure
Freehold
Accommodation
Ground floor
Bedroom 1: 13.47m2
Bedroom 2: 10.21m2
Lower Ground floor
Kitchen/living: 30.39m2
First floor
Bedroom 3: 13.83m2
Shower room: 2.60m2
Shower room: 3.73m2
Bedroom 4: 10.26m2
Second floor
Bedroom 5: 8.70m2
Bedroom 6: 9.68m2
Bedroom 7: 8.12m2
Third floor
Bedroom 8: 11.41m2
Tenancies
TBC
EPC
Energy Asset Rating is D.
Buyers Administration Fee
There will be a Buyer's Administration Fee of £3,000 (inc VAT) payable upon exchange of contracts.Additional Information
1. The information contained within the Particulars are given in good faith, but all descriptions, statements, dimensions ( these may have come from a third party source e.g. the seller, valuation reports or historic sales particulars), references to condition and permissions for the use and occupation or other details are made without responsibility and should not be relied upon as representation of fact.
2. If a video walk through, or any other form of virtual tour, is provided whilst every effort is made to accurately give an overview of the property we cannot give any warranty concerning the nature, and condition of the property and the suitability thereof for any and all activities and use. The video, or tour, is provided to assist only and without responsibility and should not be relied upon as representation of fact, or replace all appropriate due diligence a prudent purchaser would make.
* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every 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.
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