- 5 BED OCCUPIED HMO
- GENERATED AN ANNUAL INCOME OF £16,380 PER ANNUM
- ALL ROOMS WITH INDIVIDUAL BATHROOM FACILITIES
- FOR SALE VIA AUCTION
House of Multiple Occupation
A rare opportunity to purchase a fully occupied and licensed HMO. Consisting of 5 rooms all with their own bathroom facilities, this property is managed by Castledene Sales & Lettings Hartlepool and generates an annual income of £16,380 (£315 per week). Within easy walking distance of Hartlepool Town Centre, each room is fully furnished and let at the below rates: Room 1 £65 pw Room 2 £65 pw Room 3 £60 pw Room 4 £65 pw Room 5 £60 pw Total weekly income £315 Total annual income £16,380 Rents are inclusive of utility bills. The property itself briefly comprises, entrance hallway, bedroom 1 with en-suite shower room consisting of walk in shower cubicle, wash hand basin and WC, communal lounge, kitchen with modern range of units and appliances, to the first floor are two bedrooms, one with its own en-suite and two separate private shower rooms comprising of walk in shower cubicle, wash hand basin and WC, these are for the private use of rooms, 3 and 4. To the second floor are two further bedrooms (4 and 5) bedroom 5 benefits from an en-suite shower room consisting of walk in shower cubicle, wash hand basin and WC. Externally the property benefits from an enclosed rear yard.
Rights of Way, Wayleaves, Easements, Restrictive Covenants Etc.
The site is sold subject to or with the benefit of any Rights of Way, Wayleaves, Easements, Restrictive Covenants, which may exist whether mentioned in these particulars or not. For further information in relation to these matters please refer to the legal pack.
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 on our home page: https://www.sdlauctions.co.uk/
The auction date applicable for the property is displayed on this page. 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).
Auction Type Unconditional with Variable 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.
The following non-refundable fees apply:
Buyers Fee- payable on exchange of contracts. This is calculated as a percentage of the actual purchase price of the property. Either:
(a) 4.8% (including VAT) of the purchase price, for properties up to and including £250,000
(b) 3.6% (including VAT) of the purchase price for properties sold for over £250,000
The Buyers Fee is subject always to a minimum of £6,000 (including VAT). The Buyers Fee does not contribute to 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 Special Conditions carefully before bidding. Any additional fees are included at the sellers 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.
On exchange of contracts, you must pay a non-refundable deposit equal to 5% of the actual purchase price of the property, subject to a minimum of £5,000. The deposit contributes towards the purchase price.
Applicable fees/deposit must be paid immediately after a winning bid has been placed. We do not accept payment by cash or cheque. Prior to the auction, we will email you to register your card details with our 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 one of our representatives to make payment. If we cannot make contact with you within 24 hours after the auction ends, we reserve the right to charge your card if you do not respond to this email.
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 against the property details, where 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.
Energy Performance Certificate
The EPC for this property can be viewed in full at the top of this page or in the legal pack.
To register to bid on the property, you must submit your remote bid here: https://www.sdlauctions.co.uk/remote-telephone-proxy-bidding/. There is also a link to register on the property details page, where you will also be able to find the lot number for 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.
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.