Factory
A substantial Victorian former hosiery factory, of brick construction, standing on a corner plot in the heart of South Wigston.
Offering mainly open plan space arranged over 3 floors.
The property has planning permission for conversion to 12 x 1 bedroom apartments. For full details please see Oadby and Wigston Borough Council website with Planning Ref- 15/00060/FUL.
The planning permission is due to expire at the end of September but we see no reason why this should not be renewed or possibly altered.
The property retains many original features with detail brick work, arched windows, numerous exposed beams, timbers and Cast Iron columns along with a superb vaulted ceiling to the top floor.
There is a small garden / yard area to the rear.
It is extremely well located, close to a great range of local shops, parks and schooling and has good access to the motorway network and the City centre.
The total value of the site once converted would be in excess of £1 million.
It would also make a great build to rent investment which would generate a rental income around £70,000 per annum.
Freehold. Vacant possession upon completion.
Auction Details:
The sale of this property will take place on the stated date by way of Auction Event and is being sold as Unconditional with Fixed Fee.
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 auctioneer’s fee apply:
• 10% deposit (subject to a minimum of £5,000)
• Buyer’s Fee of £1,500 inc. VAT
The Buyer’s 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
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.
