Lot 3 - Bluebell, Cowslip, Buttercup and Rosehip Cottages, Northedge, Tupton, Chesterfield, Derbyshire, S42 6AY

  • Unconditional Online Auction Sale
  • Guide Price* : £250,000 plus
  • Residential Investment comprising 4 two bedroom cottages
  • Annual equivalent gross income of £27,300
  • Potential to improve through asset management

ON BEHALF OF RECEIVERS: 4 two bedroom cottages all currently let at a gross annual equivalent income of £27,300

Description

The properties comprise a row of terraced cottages, which have been divided to create five properties in total, of which four are being sold (our client has no power of sale over the 5th one).

The cottages date back to 1800s and are of stone construction, with uPVC windows and under a pitched, slate roof. The Receivers have inspected 3 of these and they all comprise a two bedroom cottage, with an open plan living room/kitchen to the ground floor. Each cottage has a bathroom and some have an additional ensuite. We assume Buttercup which could not be accessed is also a two bedroom property and similar to the others. Interested parties should rely on their own enquiries.

The 4 cottages are sold with tenants in situ and we understand they occupy at a combined annual gross income of £27,300.

The properties require refurbishment and we understand they are currently on a single electricity supply that it is sub-metred.

Location

Situated in location with a pleasant rural aspect, with good views and seclusion, which would appeal to owner occupiers or as investment properties for holiday lets. There are many properties in the area that have been converted partially or wholly to provide holiday accommodation. There are countryside walks and villages in the surrounding location, as well as the popular tourist areas of Matlock and Bakewell nearby.

Northedge, is a small village around 2.7 miles to he north east of Clay Cross, 2.5 miles from Old Tupton and 4.8 miles to the south west of Chesterfield. The nearest town is Clay Cross, which provides a range of schools, shops, pubs and other amenities. There is also a hospital and a train station.

Tenure

Freehold.

Accommodation

The properties have the following gross internal areas:

Bluebell - 68.04 sq. m (732 sq. ft)
Cowslip - 57.02 sq. m (613.76 sq. ft)
Rosehip - 68.05 sq. m (733 sq. ft)
Buttercup - not inspected

Outside

Externally the properties share the front garden, which is lawned and slightly sloped towards a field at the end.

Tenancies

Please note that the Receivers do not hold any original AST agreements and only have a copy of 1 AST. As far as they can ascertain the position is as per below and please refer to the rent statements in the legal pack:

Bluebell Cottage - Rent £575 per month. The tenant advised £575 deposit paid but holds no information on who this is protected with.
Buttercup Cottage - Rent £575 per month. The tenant provided POP for £300 deposit but holds no information on who this is protected with.
Cowslip Cottage - Rent £550 per month. The tenant advised £100 deposit paid but holds no information on who this is protected with.
Rosehip Cottage - Rent £575 per month. We understand no deposit. The tenant has provided an incomplete copy AST from 15th January 2018.

EPC

Rosehip Cottage has an asset rating of D and the remainder have a rating of F, with improvement works required.

Council Tax Band

B

Costs

Bluebell and Buttercup Cottages are both rated as C and Rosehip and Cowslip are rated B for council tax purposes.

Buyers Administration Fee

There will be a Buyer's Administration Fee of £2700 (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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Office Contact

James Ashworth
0161 967 0122

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