LOT 1 · RESIDENTIAL PROPERTY
513 Canterbury Street
Gillingham, ME7 5LG
*YET ANOTHER PROPERTY SOLD VIA SWIFT PROPERTY AUCTIONS, SIMILAR REQUIRED*
A Vacant Eight Room Licensed End of Terraced HMO With a Potential Income of £64,000 per annum.
Property description
The property comprises a eight room licensed HMO situated in an end of terraced building arranged over ground first and second floors. We have been advised from the seller that the potential income based on each room renting for £155 per week would be £64,000 per annum.
Accommodation
Ground Floor
Kitchen
Three Rooms with Ensuite Shower Rooms and Wash Hand Basin
First Floor
Three Rooms with Ensuite Shower Rooms and Wash Hand Basin
Second Floor
One Room with Ensuite Shower Rooms and Wash Hand Basin
Location
The property is situated on a residential road close to local shops and amenities. The open spaces of Gillingham Park are within easy reach. Transport links are provided by Chatham rail station.
Exterior
The property benefits from a rear garden
Addendum
The property has been previously operated as a licensed HMO. The HMO license has expired, and prospective buyers should conduct their own due diligence regarding reapplication and compliance with local authority requirements. We have been advised from the seller that the potential income based on each room renting for £155 per week would be £64,000 per annum buyers are advised to make their own enquires as to the potential rent There is an additional buyers premium of £1,500 including VAT applicable on this lot. This is in addition to the buyers admin fee of £1,500 including VAT. Both fees are payable to the auctioneers.
Run the Numbers
Explore rental returns and monthly repayments for this property.
Your rental returns
- Gross yield
- 16.2%
- Net yield
- 16.2%
- Annual income
- £63,996
Net yield deducts your annual running costs, before tax and finance.
Yields use the purchase price and assume 12 months’ rent. Include maintenance, insurance, management and vacancy allowances in annual costs. Tax, finance and purchase fees are excluded.
Illustrative estimates only, not financial advice or a lending offer. Confirm funding and the completion deadline before bidding.
Additional Fees & Important Information — Swift Property Auctions
Buyer's Premium & Disbursements
Some lots may include additional charges on completion. Full details are contained within the legal pack and addendum and should be reviewed before bidding.
Guide & Reserve Prices
Guide prices reflect the seller's minimum expectation at the time of listing. They are not valuations and may change prior to auction. All lots are offered subject to a Reserve Price, being the minimum the seller has authorised a sale at.
Administration Fee
A fee of £1,800 (including VAT) is payable on exchange, unless stated otherwise in the addendum.
Available Prices (Post-Auction)
Where a property remains unsold, an Available Price may be advertised. This reflects the seller's expectations post-auction and is subject to contract.
Reliance on Guide Prices
Swift Property Auctions and the seller accept no responsibility for any loss arising from reliance on Guide Prices. It is the bidder's responsibility to determine the level at which they wish to bid.
Fees, VAT & Additional Charges
Guide Prices exclude the buyer's fee, VAT (if applicable), and any seller's costs. These are detailed within the Special Conditions of Sale.
Accuracy & Property Condition
Particulars, images and measurements are for guidance only and may change. No warranty is given as to condition or structure. Buyers should make their own enquiries and obtain professional advice before bidding.
Withdrawn or Pre-Sold Lots
Neither Swift Property Auctions nor the seller will be liable for costs or losses relating to lots withdrawn or sold prior to auction.
PROPERTY ENQUIRY
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