The Vaults, Market Place, Ilkeston, DE7

SPACIOUS STUDIO WITH SEPARATE KITCHEN AND SEPARATE SLEEPING AREA IN FANTASTIC LOCATION FOR SALE BY MODERN AUCTION
Margi Willis are delighted to offer for sale this excellent, 1st floor studio apartment with separate kitchen and separate sleeping area. Brilliantly located just 100 yards from the charming market square within this fantastic conversion of what was one of the towns iconic nightspots, The Vaults. Now a secure, gated development of just seven apartments this lovely property boasts a bright, spacious living room with a separate sleeping area, a separate modern kitchen and shower room, plus a communal courtyard garden.
Reasonably priced, brilliantly located and in great condition throughout this property, in our opinion, represents a fantastic investment.
Currently rented until Feb 2024 at ?525 per month / ?6,300 per year.
Starting Price/Bid is ?54,000.
After service charges are paid a net yield/return of over 7% is being achieved.
Viewings available by appointment. Online bidding available.
Please call us if you have any questions regarding buying through Modern Auction.

Service Charge and Ground Rent

?2000 per annum approx

Communal Entrance

With entrance door and stairs leading up to the first floor landing, personal entrance door leads to:

Lounge-Bedroom

Lounge Area

With double glazed sash window and arch to:

Bedroom Area

With double glazed window.

Kitchen

Comprising a range of modern style wall and base units incorporating working surfaces over, integrated oven, hob and extractor fan, single drainer sink unit with mixer tap over, electric storage heater, double glazed window.

Shower Room

Comprising a three piece suite of: Low level w.c, sink set into vanity unit, shower enclosure with electric shower over, electric towel rail, wall mounted extractor fan.

Outside

There is a communal courtyard

Auctioneer Comment

This property is for sale by the Modern Method of Auction through our auction partners at EVERYAGENT UK LTD. This method of auction requires both the Seller and the Buyer to complete the transaction within 60 days of the draft contract for sale being received by the Buyers solicitor. This 60 day timescale allows enough time for Buyers to proceed with mortgage finance (subject to lending criteria, affordability and survey). To reserve the property the Buyer is required to sign a reservation agreement and make payment of a non-refundable Reservation Fee. This fee being 2.4% including VAT of the winning bid/the purchase price and subject to a minimum amount of ?3600 including VAT. The Reservation Fee is paid in addition to the purchase price and will be considered as part of the chargeable consideration for the property in the calculation for stamp duty liability.The Buyers will be required to go through an identification verification process with EVERYAGENT UK LTD and provide proof of how the purchase would be funded. This property has a Buyer Information Pack which is a collection of documents in relation to the property which can be provided to you before bidding. The documents may not tell you everything you need to know about the property, so you are responsible to complete your own due diligence before bidding. A sample copy of the Reservation Agreement and terms and conditions are also contained within this pack. The buyer will also make payment of ?360.00 including VAT towards the preparation cost of the pack to reimburse the Seller for the costs of the Searches.The property is subject to an undisclosed Reserve Price with both the Reserve Price and Starting Bid being subject to change.

Anti Money Laundering Regulations

All intending purchasers of a property being marketed by Margi Willis Estates will be required to provide copies of their personal identification documentation to comply with the current money laundering regulations. We ask for your prompt and full co-operation to ensure there is no delay in agreeing the sale of a property.

Disclaimer

Please note: These property particulars do not constitute or form part of the offer or contract. All measurements are approximate. Any appliances or services to be included in the sale have not been tested by ourselves and accordingly we recommend that all interested parties satisfy themselves as to the condition and working order prior to purchasing. None of the statements contained in these particulars or floor plans are to be relied on as statements or representations of fact and any intending purchaser must satisfy themselves by inspection or perusal of the title to the property or otherwise as to the correctness of each of the statements contained in these particulars. The vendor does not make, warrant or give, neither do Margi Willis Estate Agents and any persons in their employment have any authority to make or give, any representation or warranty whatsoever in relation to this property

Mortgage Advice

Independent Mortgage Advice is available through our Mortgage Advisor. Please contact us for further information. PLEASE NOTE: Your home may be at risk of repossession if you do not keep up repayments on your mortgage.

Viewing This Property

Viewing this property is strictly by appointment only through Margi Willis Estates. Contact us: 0115 9305555 [email protected] You can also contact us on Facebook and Twitter.