Apartment 505, Pearl Works, 2 Howard Lane, Sheffield, South Yorkshire S1 2FT

Studio flat Property Description: A superb investment opportunity comprising of a studio flat in a purpose built student block in the heart of Sheffield. The apartment is offered fully let and is a hands off investment opportunity with full management in place. A modern development constructed in 2015 which benefits from CCTV, Secure video entry system, Lift and High Speed Internet. Comprising of an open plan Lounge/Bedroom/Kitchen and En-Suite Shower Room. The sale includes the furniture package which comprises of Bed, Wardrobe and Desk/ The kitchen area has base and wall units, hob, fridge with freezer and microwave included. The rental income is £675 pcm / £8100 per annum. The service charge and ground rent amount to approx £4240 per annum. Therefore the Net income is £3660 per annum. A yield of over 10% Situated right next to Sheffield Hallam University and minutes from the vast array of shops, bars and restaurants along with the Train Station. A superb investment with income from day one. Note Photos and floor plans are for indicative purposes only and may not show the exact apartment. Conservation Area We have been made aware this property is in the Cultural Industries Quarter conservation area. Prospective buyers are advised to make all necessary independent enquiries prior to bidding, as any bid made will be binding. Leasehold Information 200 years (less three days) from 19 December 2013. Any ground rent and service charge review periods will be confirmed in the lease documents within the legal pack. Satellite and Cable TV Availability BT and Sky are available in this location. Note Information in relation to Mobile Phone Coverage and Broadband speeds is currently awaited. Prospective buyers are advised to make all necessary independent enquiries prior to placing their bid as this will be binding. Draft Sales Details These sales details are awaiting vendor approval. Tenure: Leasehold. Subject to tenancy. Unexpired Years 188 Annual Service Charge £3,018 Utilities Information Heating Supply: Double Glazing, Electric Electric Supply: Mains Supply Water Supply: Mains Supply Sewerage Arrangements: Mains Supply Parking Arrangements On Street Auction Details The sale of this property will take place on the stated date by way of Auction Event and is being sold under an Unconditional sale type. Binding contracts of sale will be exchanged at the point of sale. All sales are subject to SDL Property Auctions Buyers Terms. Properties located in Scotland will be subject to applicable Scottish law. Auction Deposit and Fees The following deposits and non- refundable auctioneers fees apply: • 5% deposit (subject to a minimum of £5,000) • Buyers Fee of 4.8% of the purchase price (subject to a minimum of £6,000 inc. VAT). The Buyers Fee does not contribute to the purchase price, however it will be taken into account when calculating the Stamp Duty Land Tax for the property (known as Land and Buildings Transaction Tax for properties located in Scotland), because it forms part of the chargeable consideration for the property. 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 Legal Pack carefully before bidding. Additional Information For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions home page. This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack (and any applicable Home Report for residential Scottish properties). 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.