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15-17 Narborough Road, Leicester, LE3 0LE

Lot no: 81 Sold at Auction for £550,000
 

Guide Price £500,000+ plus fees

Unconditional with Fixed FeeOn the fall of the hammer, the successful bidder will be legally bound to purchase the property. The successful bidder must immediately exchange contracts and pay a 10% deposit (subject to a minimum of £5,000), along with a non-refundable Buyer’s Fee. The Buyer’s Fee is £1500, and completion must take place within 30 days, unless the Special Conditions of Sale state otherwise.

Friday 18th December 2020

10.30am
Key Features
  • Substantial freehold investment property
  • Two three storey mixed use properties offering retail/restaurant at ground floor and large two bedroom flats above
  • Currently fully let and giving a rental income of £42,000 per annum and a return in the region of 8.5%.
  • Highly regarded location at the top of Narborough Rd, close to Hinckley Rd and Braunstone Gate, close to residential accommodation, DeMontfort University, The Royal Hospital and city centre
  • EPC Rating: E, F, E, F
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Sold at Auction for £550,000
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Mixed Use

Property Description:

DRAFT DETAILS
A pair of three storey, mixed used properties, each offering retail/restaurant to the ground floor and large, two bedroom duplex flats above.

Currently fully let and giving a rental income of £39,500, a return in the region of 7.9% at the current Guide Price.

Number 15 - Estate/Letting Agent

Let at £9000 per annum.

Number 15A - 2 Bedroom Duplex Apartment

Let at £750 pcm / £9000 per annum.

Number 17- Restaurant

Let at £12,500 per annum.

Number 17A - 2 Bedroom Duplex Apartment

Let at £750 pcm / £9000 per annum.

Each property is self-contained and has its own utilities and meters.
Outside

A good size rear yard/garden with storage which is mainly let with the restaurant.

Tenure:

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.

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