Mixed Use
DRAFT DETAILS
Superb opportunity to acquire a three storey retail unit, situated within the heart of the thriving Long Eaton town centre which offers an excellent range of amenities, ideally situated close to the A52 and M1 motorway and having easy access to Derby and Nottingham. The property has the benefit of full Planning Permission to convert the two upper floors into 3 x 1 bedroom apartments and 1 x 2 bedroomed apartment. Ideal investment opportunity. We are led to believe that the property may generate a gross annual income circa £39,000 gross when fully let.
Planning permission was granted by Erewash Borough Council on 20th September 2018 under Reference: ERE/0718/0055 for change of use of the 2nd and 3rd floors from storage space above an existing retail unit to residential apartments (class C3 usage) and external alterations.
We have been informed by the vendor that two flats have been planned on permitted development and two via the normal planning route, giving four flats in total.
The accommodation currently briefly comprises:
50ft 4 x 12ft 1
12ft 2 x 8ft 1
37ft 4 x 13ft 4
12ft 8 x 12ft 4
The auctioneers did not gain access to this floor.
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.
