Ulverscroft Road, Loughborough, LE11 3PU

By Public Auction. AUCTION UPDATE This property will no longer be offered in the September auction. Please contact the Auctions Team to discuss the property and the next steps.

An excellent opportunity to acquire a three bedroom detached bungalow, situated within this quiet and popular residential area of Loughborough.

The property offers well-proportioned accommodation throughout and, having previously been occupied as a rental property, is generally maintained in usable condition, whilst offering scope for minor renovations and modernisation to suit individual requirements.

The accommodation comprises an entrance porch leading into a central hallway, three bedrooms, shower room and a particularly spacious L-shaped living/dining kitchen area.

The property also benefits from a conservatory overlooking the mature rear garden.

Externally, the property is approached via a front garden and block-paved driveway providing parking for several vehicles, leading to a gated car port.

To the rear is a good-sized, mature garden offering a pleasant degree of privacy, together with a useful shed.

Following minor renovations, the property is anticipated to achieve a rental income of approximately £1,400 per calendar month, equating to an indicative gross rental yield of approximately 8.4% based on the £200,000 auction guide price.

This figure is provided for guidance only and does not take into account any refurbishment costs, finance, management, maintenance, void periods or other associated expenses.

The property is considered suitable for a range of buyers, including owner-occupiers seeking a detached bungalow in a popular residential location and investors looking for a rental opportunity with scope for future enhancement.

There may also be potential to utilise the loft space, subject to the necessary planning consents and any required building regulations approval.

Auction Terms - This property is offered for sale by traditional auction by SBK Sales Ltd, trading as SBK Auctions.

The property will, unless previously sold or withdrawn, be sold subject to the Special Conditions and General Conditions of Sale contained within the Auction Legal Pack.

The Auction Legal Pack will be available to download by registered bidders.

The sale will take place on the stated auction date by way of a live stream auction and the property is being sold on an unconditional basis with a fixed fee.

Some sellers may consider a pre-auction offer and the lot may be sold or withdrawn before the auction.

If the reserve price is met and the auctioneer's gavel falls, binding contracts of sale will be exchanged at that point.

Auction Deposit And Fees - The following deposits and non-refundable auctioneer's fees apply and will need to be paid to the auctioneer on exchange of contracts: •10% deposit, subject to a minimum of £5,000 •Buyer's Premium of £1,500 inc.

VAT •Search pack of £336 inc. VAT There may be additional costs listed in the Special Conditions of Sale, which will be available to view within the Auction Legal Pack.

These additional costs may be payable on completion. Buyers must read the Auction Legal Pack carefully and take professional advice before bidding.

Guide Price And Reserve Price - The guide price is an indication of the seller's current minimum acceptable sale price and is given to assist interested parties in deciding whether or not to pursue their interest.

The reserve price is the minimum price at which the seller has authorised the auctioneer to sell. The reserve price remains confidential between the seller and the auctioneer.

Where a guide price is shown as a range, the reserve price will be set within that range. Where a single figure guide price is shown, the reserve price will not be set more than 10% above that figure.

Both the guide price and reserve price can be subject to change at any time prior to the auction. Plans - Plans shown are for identification purposes only.

Services - The auctioneer understands that mains water, drainage, gas and electricity are connected to the property, though these services have not been tested.

Buyers are advised to make their own enquiries to confirm the connected services. Directions - What3Words: ///trendy.trying.films Tenure And Possession - The property and land are freehold.

Vacant possession will be given upon completion, which is normally 20 working days after the auction. Please refer to the Auction Legal Pack for further details.

Bidder Registration And Auction Legal Pack - If you would like to register to bid, please visit: passport.eigroup.co.uk/bidder-registration/sheldon-bosley-knight/ You can opt to bid online, by telephone or by proxy.

The Auction Legal Pack for the lot you are interested in can be downloaded here: auctioneertemplates.eigroup.co.uk/guides.aspx?a=1236&c=sbk All bidders must register before bidding, complete the required identity checks and be approved to bid.

Full details on how to register to bid, and a guide to buying at auction, can be found at: sbkauctions.co.uk Preferred Solicitors - If you would like details of our preferred solicitors, please contact the auction team and we can arrange for information to be sent to you.

Legal Documents And Additional Costs - It is essential that bidders check the legal documents prior to bidding and take professional advice.

The legal pack may include searches, title documents, Special Conditions of Sale, tenancy information, planning documents, notices, replies to enquiries and other documents relevant to the lot.

Special Conditions of Sale can contain additional costs, being costs over and above the price the lot is knocked down at, and bidders are deemed to be aware of any additional costs prior to bidding.

Bidders must rely on their own inspection of the legal pack and any professional advice they obtain before bidding. Viewings - All viewings are by appointment only through the Auction Department.