5 bed semi-detached house for sale

Founder Close, Coventry, West Midlands CV4

An attractive opportunity for investors to acquire a five bedroom semi detached house in the popular Canley area of Coventry, currently operated as a HMO and sold with tenants in situ. The property is producing a current gross rental yield of approximately 12%, providing an immediate income producing investment with established occupancy.

The accommodation is arranged over two floors and comprises three first floor bedrooms together with two ground floor bedrooms, supported by a first floor bathroom, ground floor shower room and separate WC. The property provides a practical layout for shared accommodation and offers an investor the opportunity to acquire an established HMO rather than taking on the initial costs and uncertainty associated with creating a new letting arrangement.

Founder Close is situated in Canley, a well established residential area particularly popular with students due to its proximity to the University of Warwick. The university campus is within walking distance, while Cannon Park Shopping Centre provides a range of everyday shops and amenities nearby. Canley and Tile Hill also benefit from good transport connections, with Canley and Tile Hill railway stations providing access towards Coventry and Birmingham.

Please note: This property is suitable for cash buyers only due to the non standard construction of the property.

Auction

To be sold by online auction (unconditional) on Thursday 29th October with a 6 week completion, bidding will open at 10.00.

To View

Viewings will be conducted prior to the auction, please visit our website to book an appointment at

Registration

All bidders/potential buyers are required to register ahead of the auction date to be able to bid/buy, please visit our website to setup an online auction account.

Tenure

Freehold with tenant in situ.

Tenancies

Let at £2,000 pcm from 1 September 2026 on an assured periodic tenancy, continuing on a month by month basis.

EPC Rating

C

Council Tax Band

A - Coventry City Council

Legal Pack

For each lot there are Special Conditions of Sale and other documentation provided by the vendor's solicitors. If you wish to receive the Legal Pack, you will be able to register for this via the link on our website. You will receive notification by email once the Legal Pack is received from the solicitor. The documents may not tell you everything you need to know about the property and you are required to complete your own due diligence before bidding.

Guide Prices

Guide Prices are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a lot will sell for and may change at any time prior to the auction. Each lot will be offered subject to a Reserve, (a figure below which the Auctioneer cannot sell the lot during the auction) which we expect will be set within the Guide Range, or no more than 10% above a single figure Guide Price.

Additional Fees

A buyers charge of £1,650 including VAT is payable on each lot that you buy, in addition to the sale price. Please be aware there may be other additional fees, including disbursements contained in the legal pack payable on completion. Please ensure that you check the legal pack for each lot that you are interested in, prior to bidding.

Deposit

If you are the highest bidder when the auction ends, contracts are exchanged between you and the seller. Both parties are legally bound to complete the transaction as per the special conditions in the legal pack. Your card will be automatically debited for the bidder security amount of £6,000 and we'll require the remaining balance for a 10% non-refundable deposit. We will contact you after the auction has finished to make these arrangements.

Pre-Auction Offers

These must be made in writing and will only be considered if the Legal Pack has been inspected and proof of funding has been supplied to the auctioneers. Pre-auction offers are only considered on an auction basis in accordance with the “Terms & Conditions - Unconditional Auction".

Mortgage Finance

We advise all bidders who require a mortgage to confirm with their Financial Advisor as to whether or not the lot you are interested in would be suitable security to borrow finance against, prior to bidding. If you need to arrange a mortgage it is important that you obtain an offer from your lender before the day of the auction. Most building societies and banks will instruct a surveyor to prepare a valuation report before making a mortgage offer.

Please Note

All plans are strictly for identification purposes only and should not be relied upon. Please refer to the legal pack for the Land Registry plan of each lot. Any plans are reproduced from Ordnance Survey maps with kind permission of the Controller of His Majesty's Stationery Office @ Crown copyright. All rights reserved, Licence no: