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Accommodation
The property has been measured by BKR Floor Plans and provides the following accommodation:
| 4 South Parade | ||
| Gross Internal Area – Floor By Floor | ||
| Lower Ground Floor | 82.12 sq m | 884 sq ft |
| Ground Floor | 82.96 sq m | 893 sq ft |
| First Floor | 51.37 sq m | 553 sq ft |
| Second Floor | 48.77 sq m | 525 sq ft |
| Third Floor | 5.57 sq m | 60 qs ft |
| Total | 270.80 sq m | 2,915 sq ft |
| Gross Internal Area – Flats | ||
| Flat 1 | 28.52 sq m | 307 sq ft |
| Flat 2 | 43.85 sq m | 472 sq ft |
| Flat 3 | 37.07 sq m | 399 sq ft |
| Flat 4 | 31.31 sq m | 337 sq ft |
| Flat 5 | 41.25 sq m | 444 sq ft |
| Flat 6 | 31.21 sq m | 336 sq ft |
| Total | 213.21 sq m | 2,295 sq ft |
| 18 South Parade | ||
| Gross Internal Area – Floor By Floor | ||
| Lower Ground Floor | 105.63 sq m | 1,137 sq ft |
| Ground Floor | 136.75 sq m | 1,472 sq ft |
| Ground Floor Half Landing | 32.14 sq m | 346 sq ft |
| First Floor | 101.82 sq m | 1,096 sq ft |
| Second Floor | 98.38 sq m | 1,059 sq ft |
| Third Floor | 56.30 sq m | 606 sq ft |
| Total | 531.02 sq m | 5,716 sq ft |
| Gross Internal Area – Flats | ||
| Flat 1 | 69.68 sq m | 750 sq ft |
| Flat 2 | 31.68 sq m | 341 sq ft |
| Flat 3 | 50.35 sq m | 542 sq ft |
| Flat 4 | 29.73 sq m | 320 sq ft |
| Flat 5 | 37.35 sq m | 402 sq ft |
| Flat 6 | 40.04 sq m | 431 sq ft |
| Flat 7 | 40.41 sq m | 435 sq ft |
| Flat 8 | 57.23 sq m | 616 sq ft |
| Flat 9 | 109.25 sq m | 1,176 sq ft |
| Total | 465.71 sq m | 5,013 sq ft |
A set of floor plans is available to download, and the measured survey will be re-addressed to a purchaser at a cost of £985.00 + VAT.
EPC’s
| Flat Number | EPC Rating | Expiry |
| 18 South Parade | ||
| 1 | E | 03/2030 |
| 2 | E | 11/2029 |
| 3 | D | 09/2034 |
| 4 | E | 12/2029 |
| 5 | E | 11/2029 |
| 6 | D | 11/2029 |
| 7 | D | 11/2029 |
| 8 | E | 11/2029 |
| 9 | D | 09/2034 |
| 4 South Parade | ||
| 1 | E | 12/2029 |
| 2 | E | 11/2029 |
| 3 | E | 12/2029 |
| 4 | E | 01/2030 |
| 5 | D | 11/2029 |
| 6 | E | 12/2029 |
Planning
We understand that both properties are Listed Buildings and situated within a Conservation Area.
Council Tax
We understand that all the flats have been assessed as having a Council Tax Band A. The tenants are responsible for paying their own Council Tax.
Tenure
Freehold.
Tenancies
We understand that, in accordance with the original tenancy agreements, the properties are let as per the below schedules, with a total contracted gross income of:
| 18 South Parade | £6,350 pcm | £76,200 per annum |
| 4 South Parade | £4,150 pcm | £49,800 per annum |
| Total | £10,500 pcm | £126,000 per annum |
However, the borrower has claimed that, rather than the tenants paying rent monthly, certain tenants have paid their rents in advance at the following total discounted rates:
| 18 South Parade | £5,460 pcm | £65,520 per annum |
| 4 South Parade | £3,560 pcm | £42,720 per annum |
| Total | £9,020 pcm | £108,240 per annum |
Due to this being a receivership sale, we do not have a payment history or evidence from the borrower or tenants that the rents have been paid in advance at these levels. Various ‘Rent upfront – letter to tenants’ are provided in the data room, but we are unable to confirm the validity of these letters. Interested parties must draw their own conclusions.
| 18 South Parade | |||||
| Flat No. | Monthly Rent (Original Agreement) | Annual Rent | Monthly Rent (Advised paid in advance) | Annual Rent (Advised paid in advance) | Term |
| 1 | £850.00 | £10,200 | £680.00 | £8,160 | Fixed term of 24 months from 04 Apr 2025 |
| 2 | £600.00 | £7,200 | £600.00 | £7,200 | Fixed term of 12 months from 09 June 2025 |
| 3 | £850.00 | £10,200 | £680.00 | £8,160 | Fixed term of 24 months from 06 May 2025 |
| 4 | £650.00 | £7,800 | £520.00 | £6,240 | Fixed term of 12 months from 29 Jun 2025 |
| 5 | £650.00 | £7,800 | £520.00 | £6,240 | Fixed term of 12 months from 22 Oct 2025 |
| 6 | £700.00 | £8,400 | £560.00 | £6,720 | Fixed term of 24 months from 01 Jan 2025 |
| 7 | £650.00 | £7,800 | £650.00 | £7,800 | Fixed term of 24 months from 02 Jun 2025 |
| 8 | £750.00 | £9,000 | £600.00 | £7,200 | Fixed term of 24 months from 04 Jul 2025 |
| 9 | £650.00 | £7,800 | £650.00 | £7,800 | Fixed term of 24 months from 03 Apr 2025 |
| £6,350.00 | £76,200 | £5,460.00 | £65,520 |
| 4 South Parade | |||||
| Flat No. | Monthly Rent (Original Agreement) | Annual Rent | Monthly Rent (Claimed to be paid in advance) | Annual Rent (Claimed to be paid in advance) | Term |
| 1 | £700.00 | £8,400 | £560.00 | £6,720 | Fixed term of 24 months from 3 Feb 2025 |
| 2 | £750.00 | £9,000 | £600.00 | £7,200 | Fixed term of 24 months from 25 Jan 2025 |
| 3 | £750.00 | £9,000 | £600.00 | £7,200 | Fixed term of 24 months from 29 April 2025 |
| 4 | £600.00 | £7,200 | £600.00 | £7,200 | Fixed term of 12 months from 1st April 2024 |
| 5 | £750.00 | £9,000 | £600.00 | £7,200 | Fixed term of 24 months from 22 Oct 2025 |
| 6 | £600.00 | £7,200 | £600.00 | £7,200 | Fixed term of 12 months from 18 July 2024 |
| £4,150.00 | £49,800 | £3,560.00 | £42,720 |
As this is a receivership sale, we do not have an extensive recent rent payment history. We are advised that the following rents has been received since the Receivers were appointed:
Flat 1, 4 South Parade £1,950.00
(3 x monthly instalments of £650.00, commencing 08/12/25)
Flat 7, 18 South Parade £2,250.00
(15 x weekly instalments of £150,00, commencing 28/11/25)
As at 9th March 2026, the rent arrears since the Receivers were appointed are as follows:
| 18 South Parade | |
| Flat 1 | £4,250 |
| Flat 2 | £2,400 |
| Flat 3 | £4,250 |
| Flat 4 | £3,250 |
| Flat 5 | £2,600 |
| Flat 6 | £3,500 |
| Flat 7 | £1,000 |
| Flat 8 | £3,750 |
| Flat 9 | £3,250 |
| Total | £28,250 |
| 4 South Parade | |
| Flat 1 | £1,550 |
| Flat 2 | £3,750 |
| Flat 3 | £3,000 |
| Flat 4 | £2,400 |
| Flat 5 | £2,400 |
| Flat 6 | £2,400 |
| Total | £15,500 |
We have had sight of a Management Agreement between the Borrower and Doncaster Property Services for a period of 5 years from 1st January 2024, which states a Letting and Management Service fee of 18% of the monthly rental income. A copy of the agreement is provided in the data room.
Due to this being a receivership sale, we do not have any record of the running costs or Landlord expenditure.
VAT
A letter from HMRC is available in the data room confirming that they have not been notified of an option to tax. Please refer to the treatment of this point in the sales contract.
Proposal
We are instructed to seek a figure of £920,000, subject to contract, reflecting a Gross Yield of 13.7% based on the contracted rent.
Please note that a purchaser will be re-charged the costs of the measured survey (£985+ VAT) and the searches (£2,100) which are provided in the data room.
Investment Considerations
An opportunity to acquire two residential investment opportunities;
Located in a well-established residential area;
Comprises 15 units in total;
Freehold;
A purchase at the asking price reflects an attractive yield;
Attractive lot size for an investor.
Disclaimer
Fixed Charge Receivers Andrew Pear and Milan Vuceljic by the powers given by the Mortgage and all other powers given by statute or otherwise who act as agents for the Company and without personal liability. Both Fixed Charge Receivers are licenced by the Insolvency Practitioners Association and are bound by the Insolvency Code of Ethics.
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Data Room
A full data room is available for this property.
Click the button below to access the data room, or navigate to the area titled “clicktopurchase®”, where you can view the data room and commence the online purchase process.
