6 bedroom House of Multiple Occupation in Loughborough

8 Towles Mill, Queens Road, Loughborough, Leicestershire LE11 1GG
  • Lot No: 63
  • Property Type: House of Multiple Occupation
  • Contract Type: Unconditional with Fixed Fee

Guide Price* £178,000+ plus fees

Result Sold at Auction £195,000

Property Description

A six bedroom HMO property let at £18,000 per annum exclusive of bills. A spacious three storey town house located within the converted Towles Mill. The Mill is an iconic building within Loughborough and was converted in 2006. The property is let on a single company/charity let at £18,000 per annum. The tenant pays all their own utility bills and council tax. Offering six bedrooms, two bathrooms and parking. The property has had a recent visit from the Housing Standards Officer and they have quoted I am pleased to say, for the first time in a very long time for me doing visits, that there is nothing that needs to be done from our point of view. The tenancy has now been in place for approximately four years and the rent has never been increased. We have been advised that the current tenant will be paying £1,700 per calendar month for a similar house within the same block from April. Prospective buyers are advised to make all necessary independent enquiries prior to placing their bid as this will be binding. The property benefits from a HMO Licence. A fully up to date and compliant property with income from day one. Offering six bedrooms, two bathrooms and parking. Situated in a highly convenient location with good access to Loughborough University, the Town Centre and Train Station. In good order throughout and income from day one.

Ground Floor

Reception Hallway, Communal Lounge, Large Communal Dining Kitchen.


First Floor

Three bedrooms and Shower Room


Second Floor

Three bedrooms and Shower Room


Outside

Communal Gardens and Residents Parking.


Leasehold Information

Any ground rent and service charge review periods will be confirmed in the lease documents within the legal pack.


Note:

Please be advised that key information regarding Water supply, Electricity supply, Sewerage arrangements, Heating supply and Parking arrangements are currently not available. Prospective buyers are advised to make all necessary independent enquiries before placing their bid, as this will be binding.


Draft Sales Details

These sales details are awaiting vendor approval.


Tenure

Leasehold

Auction Details: The sale of this property will take place on the stated date by way of Auction Event and is being sold as Unconditional with Fixed Fee. Binding contracts of sale will be exchanged at the point of sale. All sales are subject to SDL Property Auctions’ Buyers Terms. Properties located in Scotland will be subject to applicable Scottish law. Auction Deposit and Fees: The following deposits and non- refundable auctioneer’s fee apply: • 10% deposit (subject to a minimum of £5,000) • Buyer’s Fee of £1,500 inc. VAT The Buyer’s Fee does not contribute to the purchase price, however it will be taken into account when calculating the Stamp Duty Land Tax for the property (known as Land and Buildings Transaction Tax for properties located in Scotland), because it forms part of the chargeable consideration for the property. There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding. Additional Information: For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions’ home page. This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack (and any applicable Home Report for residential Scottish properties). Guide Price & Reserve Each property sold is subject to a Reserve Price. The Reserve Price will be within + or – 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.

Auction Details

Date 25th April 2024

Venue National Property Auction
The National Property Auction will be broadcast live on our website and open to remote bidding online, on the phone and by proxy. Registration for bidding will close at 5pm the day before the auction.

Lot Information

Contact Us

If you have any questions, call our team on 0800 046 5454

Map

8 Towles Mill, Queens Road, Loughborough, Leicestershire LE11 1GG