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SOLD STC

37-41 Coundon Road, Coventry, Warwickshire CV1 4AR

PROPERTY TYPE

House of Multiple Occupation

BEDROOMS

26

SIZE

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TENURE
Describes how you own a property. There are different types of tenure - freehold, leasehold, and commonhold.Read more about tenure in our glossary page.

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Key features

  • Former Halls Of Residence
  • 26 Bedrooms
  • 5 Kitchens
  • 5 Bathrooms and 5 Further Toilets
  • 10 Parking Spaces
  • Purpose Built
  • Good Order
  • Potential income circa £120,000 per annum.
  • EPC Rating: D

Description

Sold at auction on 24 June 2021 at The National Property Auction will be conducted behind closed doors. The auction will be live-streamed online with remote bidding only. Registration for bidding will close at 12pm the day before the auction. for £835,000.

A 26 bedroom former Halls of Residence building, purpose built 25 years ago. Potential income of circa £120,000 per annum.

A 26 bedroom former Coventry University Halls of Residence building. The property was purpose built 25 years ago and comprises of 5 cluster flats with 5-6 bedrooms each and arranged over 3 floors.

Each flat has 5-6 bedrooms, spacious kitchen, bathroom and further cloakroom / w.c.

All rooms have a bed, built on storage cupboards, sink unit and work station.

There is a car park to the rear offering 10 car parking spaces.

The location is perfect for student letting being close to the campus and with a vast array of amenities in the city centre.

There may be possible scope for further development subject to any required permissions.

Once let the estimated rental income would be expected to be in the region of £120,000 per annum. Offering a gross yield of 15%.

A fantastic investment opportunity in prime location.

Ground Floor Reception Hallway with stairs to all floors.
FLAT ONE - Hall
Kitchen
Bathroom
Further w.c.
6 Bedrooms
First Floor Consisting of -
FLAT TWO - Hall
Kitchen
Bathroom
Further w.c.
5 Bedrooms
FLAT THREE - Hall
Kitchen
Bathroom
Further w.c.
5 Bedrooms
Second Floor Consisting of -
FLAT FOUR - Hall
Kitchen
Bathroom
Further w.c.
5 Bedrooms
FLAT FIVE - Hall
Kitchen
Bathroom
Further w.c.
5 Bedrooms
Outside Drive through leading to the rear. 10 Car parking spaces and bike storage racks.
Note The auctioneers have not inspected the property.

Tenure: Freehold

EPC Rating: D

Terms:
Viewings:
To book a viewing, please contact SDL Auctions to arrange.

Auction Method:
The auction for this property will take place as an “Auction Event” behind closed doors with a live auctioneer and will be streamed online in real-time. The property will be sold alongside several other lots. Bids must be placed remotely- please see the below section on “Registration Process”. The auction can be watched in real-time on the auction date through SDL Auctions’ website on their home page.
The auction date applicable for the property is displayed underneath the property description. It is not possible to provide a precise timeslot when this property will be auctioned on the day, because there are other lots being sold.
You are required to undertake identity checks before you can be authorised to bid. You must also provide your payment details. If you do not provide this information, your registration will not be processed.
When you place your bid, you are deemed to have agreed to SDL Auctions’ Buyers Terms (England & Wales) which are available on SDL Auctions website.

Auction type- Unconditional with Fixed Fee
If you are the highest bidder, you must exchange legally binding contracts for the sale when the auction for the property comes to an end. You must then pay the applicable fees and deposit. You must complete the sale within 20 business days unless the Special Conditions of Sale contained within the Legal Pack state otherwise.

Auction Fees
The following non-refundable fees apply:
Buyer’s Fee- payable on exchange of contracts. This is usually £1074 including VAT, subject to the Special Conditions of Sale. This fee does not contribute towards the purchase price of 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 Special Conditions carefully before bidding. Any additional fees are included at the seller’s discretion, not on the instruction of SDL Auctions, and will be in addition to any fees payable to us. SDL Auctions has limited control over the content of the Special Conditions of Sale.

Deposit
On exchange of contracts, you must pay a non-refundable deposit equal to 10% of the actual purchase price of the property, subject to a minimum of £5,000. The deposit contributes towards the purchase price.

Payment Method:
Applicable fees must be paid immediately after a winning bid has been placed. Payment by cash or cheque will not be accepted. Prior to the auction, you will receive an email from the auctioneer to register your card details with third-party provider, Stripe. Your card details will be stored on their secure online payment platform. Payment will only be taken from you in the event of a winning bid. In this case, you will be contacted by a representative of the auctioneer to make payment. If you cannot be contacted within 24 hours after the auction ends, the auctioneer reserves the right to charge your card.

Legal Pack
Before bidding, you must view the legal pack for the property. This is the collection of legal documents that apply to the sale. The documents will include but are not limited to: Special Conditions of Sale, title documents from the Land Registry and Energy Performance Certificate.
The legal pack can be viewed on SDL Auctions website by searching for the property. On the property details page there is a sub-heading “Legal Packs”. Follow this link, and you will then be directed to create an account with Auction Passport to view the documents.
The legal pack can change at any time up until the auction starts so you must check for the most recent version of the legal pack. An addendum may be issued outlining any late changes. At the point of placing your bid, you are deemed to have read the legal pack in its entirety, including any changes. Failure to check for changes to the legal pack will not be a valid reason for withdrawing from the sale.
It is strongly recommended that you instruct a qualified professional to review the legal pack and raise any necessary enquiries before bidding.

Special Conditions of Sale
The property is sold subject to any Special Conditions of Sale. These are contractual conditions that are included by the seller of the property - they are not part of SDL Auctions’ terms and conditions. The Special Conditions of Sale are legally binding. You are taken to have read and accepted these at the point of bidding, even if you have not done so. The Special Conditions of Sale are available to read in the legal pack.

Registration Process:
To register to bid on the property, visit the SDL Auctions website and submit your remote bid. The lot number can be found against the Lot Details of the property. Prospective buyers must register no later than 12pm the day before the auction date. If you register after the cut off, it cannot be guaranteed that your registration will be processed.

Energy performance certificate - not provided

Council TaxA payment made to your local authority in order to pay for local services like schools, libraries, and refuse collection. The amount you pay depends on the value of the property.Read more about council tax in our glossary page.

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37-41 Coundon Road, Coventry, Warwickshire CV1 4AR

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Coventry Station0.9 miles
  • Canley Station1.4 miles
  • Coventry Arena Station2.6 miles
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About the agent

SDL Property Auctions, Nationwide

17 Regan Way Toton Nottingham NG9 6RZ

SDL Property Auctions, Nationwide

At SDL Property Auctions, our award-winning team, sells a wide range of residential and commercial properties across the length and breadth of the UK, for both private individuals and corporate clients. Our lots range from investment properties, vacant houses, building plots, commercial and mixed-use buildings and more.

With a commitment to speed, simplicity and certainty, SDL Property Auctions offers customers the fastest, simplest and safest way to buy or sell residential and commerci

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Disclaimer - Property reference 202106092031sq_1kgv. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by SDL Property Auctions, Nationwide. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

Auction Fees: The purchase of this property may include associated fees not listed here, as it is to be sold via auction. To find out more about the fees associated with this property please call SDL Property Auctions, Nationwide on 08000 465454.

*Guide Price: An indication of a seller's minimum expectation at auction and given as a “Guide Price” or a range of “Guide Prices”. This is not necessarily the figure a property will sell for and is subject to change prior to the auction.

Reserve Price: Each auction property will be subject to a “Reserve Price” below which the property cannot be sold at auction. Normally the “Reserve Price” will be set within the range of “Guide Prices” or no more than 10% above a single “Guide Price.”

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