3 Frederick Grove, Nottingham, Nottinghamshire NG7 1SG

An impressive licensed six-bedroom HMO offering significant potential to generate a gross annual rental income in excess of £43,000 when fully let, representing an attractive potential gross return of approximately 17% against the guide price.

This end-of-terraced property is nestled within a cul-de-sac location in a sought-after residential area, with a wealth of local amenities, shops, cafés, restaurants and transport links on its doorstep.

The property briefly comprises six bedrooms, two bathrooms, an open-plan lounge area, useful basement area and is offered with furniture and white goods included. There is currently one room occupied, with scope for the property to become fully vacant, subject to the existing tenancy arrangements.

Located in the centre of Lenton, the property is within walking distance of the University of Nottingham and Queen's Medical Centre. With the tram and local buses close by, it also offers easy access to Nottingham city centre.

Auction Details

The sale of this property will take place on the stated date by way of Live streamed auction and is being sold under the Unconditional sale type.

Binding contracts will be exchanged at the point of sale.

All sales are subject to our Common Auction Conditions and Bidder Terms. Properties located in Scotland and Northern Ireland will be subject to applicable local laws.

Auction Deposit and Fees

The following deposits and non-refundable auctioneers fees apply, and are payable immediately upon exchange of contracts:

• 5% deposit (subject to a minimum of £5,000)

• Buyer’s Fee of 3.6% inc. VAT of the purchase price

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 our auction processes, please refer to the Bidder Terms which can be viewed on our home page.

This explains the types of auction and sale methods we offer, the bidding registration process, your payment obligations, and how to view the Legal Pack (and any applicable home report for residential Scottish properties).

Guide Price & Reserve Price

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.