Sheldon Bosley Knight Group (SBK & AG)

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. Professional photography currently being arranged – further images to follow. An excellent opportunity for investors to acquire a two bedroom mid-terraced property, conveniently located in Nuneaton with the town centre and its wide range of amenities within close proximity. The property offers a traditional terraced layout comprising a lounge, dining room, kitchen and bathroom to the ground floor, with two spacious bedrooms to the first floor. Externally, there is a courtyard-style rear garden with separate lawned area, with on-street parking available to the front. The property is in need of refurbishment throughout, providing an incoming purchaser with the opportunity to modernise and improve the accommodation to their own requirements. The property was previously let and therefore presents an attractive proposition for investors looking to add value and establish a strong rental investment. Once refurbished, we understand the property could potentially achieve a rental income in the region of £950 per calendar month, which equates to an indicative gross rental yield of approximately 10.4% based on the £110,000 auction guide price, before allowing for refurbishment costs, finance, management, maintenance and other associated expenses. There is also potential for capital appreciation, with an estimated resale value in the region of £160,000 once fully refurbished, subject to the quality of works undertaken and prevailing market conditions. The property is therefore likely to appeal particularly to investors, landlords and developers seeking a refurbishment project with strong rental potential and the opportunity to add value.