Commercial Property
DRAFT DETAILS
Freehold Grade II Listed Former Bank Premises, with a large garden of circa 0.4 acres to the rear, within an attractive Town Centre location. The property provides alternative use potential, subject to obtaining the necessary Planning and Listed Building Consents.
The property is of brick construction with stonework detailing and rendered facade. Externally, the property provides a small front garden, rear parking and a rear garden of circa 0.4 acre. Internally, the property provides a former banking hall, office accommodation, storage, male and female WCs and strong room to the ground floor. To the first floor there is a self-contained apartment (9a Church Street) which has been sold off on a long Leasehold basis.
The property is situated within the affluent town of Southwell, which lies approximately 14 miles north east of Nottingham City Centre.
The property is situated on Church Street, adjacent to the prime retailing pitch along King Street /Market Place. The property is opposite Southwell Minster, which is a major tourist attraction. Other proximate users include a mix of national and independent retailers, restaurants, pubs and residential accommodation. There is also a pay and display car park situated within 100 yards of the property which offers two hours free parking.
A licence to occupy has been granted to the proprietor of 9a Church Street allowing them use of the rear garden and granting the ability to park 2 cars within the rear car park. The licence is terminable at 3 month notice by either party. Number 9a Church Street: This has been sold off on a 125 year long Leasehold basis from 23rd June 2003. The Freeholder is entitled to recover a Ground Rent of £100 pa. The Lease provides for uplifts of £50 pa every 25 years of the Lease. The leaseholder has a right of way over the drive to the left hand side of the property.
The vendor has informed us that a three month notice will be in place for the leaseholder to vacate the garden by the time of the auction on 9 August 2019 and a copy of this notice will be provided in the legal pack.
Full Lease and Licence documentation will be available within the legal pack.
The property extends to approximately 2,637 sq.ft. (245.02 sq.m.) at ground floor level. All interested parties must seek their own verification of floor areas and dimensions and satisfy themselves that they are suitable for any proposed future use.
We understand that the property is elected for VAT and therefore VAT will be chargeable on this transaction. All interested parties are advised to refer to the Special Conditions of Sale within the legal pack for their own verification.
Freehold.
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.
