HMO in DN21
Lea Road, Gainsborough, Lincolnshire, DN21 1LL
Online auction
Alternatively call 0191 580 1587 or email commercial@pattinson.co.uk
- End of terraced former house
- Converted to a six bedroom HMO
- All bedrooms come with their own en-suites
- Accommodation across three floors
- Market town of Gainsborough
- 15 miles north of Lincoln city centre
- Currently 100% occupied
HMO in DN21
*For sale via secure sale online bidding: terms and conditions apply.*
We are pleased to offer to auction this end of terraced former house converted to a six bedroom HMO with accommodation across three floors including rooms to the loft space.
The subject property is located on the A156 Lea Road to the edge of the market town of Gainsborough which is approximately 15 miles north of Lincoln city centre. The A156 Lea Road is the main road link between Gainsborough and Lincoln to the south.
The total gross rent is currently £29,640 per annum, with rents ranging from £90 to £100 per week. Potential to increase these all to approx. £100 - £105 per week totalling £31,200 - £32,760 per annum.
Please note we have not inspected this property.
Summary
- Property Type: HMO
- Tenure: Freehold
- Parking: On Street
Location
The subject property is located on the A156 Lea Road to the edge of the market town of Gainsborough which is approximately 15 miles north of Lincoln city centre. The A156 Lea Road is the main road link between Gainsborough and Lincoln to the south. The properties immediately surrounding the subject are of a similar residential, terraced nature to the main with a small electrical appliance shop located to the opposite side of the road. There are a number of food takeaways located on the A159, 0.3 miles north of the subject, a Jet fuel station to the north end of Lea Road and an Aldi food supermarket located further south on Lea Road. Further to the north the Marshall’s Yard shopping centre located 0.5 miles north provides a plethora of shops with a Tesco food superstore located adjacent to it. There is a train station located further south of Lea Road which provides services to Doncaster to the north west and Retford to the south west. Junction 34 of the A1 is approximately 12 miles from the subject and there are bus stops on the A156 which provide services to Gainsborough town centre.
Accommodation
Six bedroom HMO. The ground floor comprises of an entrance hall leading to bedroom 1 and a kitchen/diner to the rear. Of the kitchen/diner is bedroom 2. The first and second floor comprise of a further two bedrooms each. In addition, each bedroom is fitted with an ensuite shower room. Externally there is a small garden to the front which is laid with stone chippings and a further small yard to the rear which can be accessed via a side gate or patio doors to the kitchen/diner.
Construction
The subject is of a traditional bricks and mortar construction with a pitched, concrete tile roof. The floors are solid concrete to the ground floor and suspended timber to the upper floors whilst the windows are double glazed and set in uPVC frames.
Rent
The total gross rent is currently £29,640 per month, with rents ranging from £90 to £100 per week. Potential to increase these all to approx. £100 - £105 per week totalling £31,200 - £32,760 per annum.
Tenure
Freehold. Title number: LL409340.
Council Tax
Band A.
EPC
Available upon request (rating D).
Additional Information
For further information please contact our office direct on 0191 737 1154, or alternatively via e-mail on commercial@pattinson.co.uk. With regards to viewing the subject property, this is to be done strictly by appointment through Keith Pattinson Commercial department. Please contact us to arrange an internal inspection, or to register your interest.
Floorplan
This property is being sold subject to unconditional reservation fee auction terms and conditions.
Timescales
Contracts will exchange immediately. There are 28 days in which to complete the purchase.
Legal Pack
A legal pack is available to download. Special conditions may apply.
We strongly recommend buyers familiarise themselves with the legal pack prior to bidding.
Deposit
In order to secure the purchase a buyer will pay a deposit of 5% which contributes towards the overall purchase price of the property.
The deposit is non-refundable.
Buyer Fees
This property is sold subject to a non-refundable reservation fee of 5% + VAT to a minimum of £5,000 + VAT (£6,000 inc VAT) This does not form part of the purchase price.
A reservation fee is payable by the buyer where a seller has opted to sell with no fees. As a result, a lower reserve price is usually agreed on lots where a reservation fee is applicable.
More Information
For more information call our auction experts on 0191 206 9335 or email auctions@pattinson.co.uk
ONLINE AUCTION NOTICE
I hereby acknowledge and confirm the following:
My bid may be accepted by the seller at any time before the close of the auction. It is subject to the terms and conditions of the auction which I have read and understood. I have read and understood the legal pack applicable to my bid/lot and agree to be bound by any special conditions within that pack.
If my bid is successful (whether as the highest bid or upon acceptance by the seller in the course of the auction) I shall be bound by the lot terms and conditions as advertised online.
Any amount payable at the close of the auction must be paid within 1 hour.
Please note that the bidding process will work in a different way to an eBay auction, so there is NO advantage to bidding at the last second.
Each auction will automatically stay open until there has not been a bid within the final 10 minutes. If no bid has been submitted within the final 10 minutes of the auction, the auction will close and the highest bidder will be successful subject to the reserve price being met or upon acceptance of an offer by the seller throughout the auction cycle. If there is another bid within 10 minutes of the last bid, the auction countdown timer will be restarted for another 10 minutes to allow further bidding. This system avoids last-minute (or second) bidding and makes for a fairer auction as in a live-room auction situation.
Please bid in good time before the end of the auction, delaying your bid to the last seconds may disadvantage you if your connection slows or you lose internet connectivity.
The auctioneer is not responsible for any tech issues, power outage or error messages which hampers or eliminates an individual's opportunity to bid.
It is the bidder's responsibility to ensure the bid has been lodged with the auctioneer. It is therefore beneficial to bid on your chosen lot at your earliest opportunity.
The auctioneer accepts no responsibility for bids that are not received or are received late and reserves the right to reject any bid without notice.
Minimum online bidding increments:
£50,000 - £250 minimum bid
£50,001 to £150,000 - £500 minimum bid
£150,001 to £250,000 - £1,000 minimum bid
£250,001 to £750,000 - £2,500 minimum bid
£750,001 to £1.5 Million - £5,000 minimum bid
£1.5 Million Plus - £10,000 minimum bid
Please note this bidding process applies specifically to online auctions.
More Information is available:
For more information call our auction experts on 0191 206 9335 or email auctions@pattinson.co.uk
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