Residential Development
DRAFT DETAILS
A fantastic development opportunity for investors/builders looking for a project which already has planning in place. The current owners and their architects have put together a carefully considered and sympathetic conversion plan for this former 1920’s Bank, which looks very appealing indeed and maximises the 1,800 sq ft of accommodation on offer.
The property currently has approval for 3 apartments and we are informed permission for a further fourth apartment is currently being considered. All interested parties should direct any enquiries to the local authority in this regard. The property is found in a very central and prominent position is the very highly regarded centre of Alfreton, which has an attractive and active high street.
The conversion once completed could rent out extremely well as there is a high local demand for properties to rent in the area. Local letting agents have advised that a yearly rental income in the region of £25,000 per annum is achievable.
Alfreton is within easy reach of many of Derbyshires main attractions. Close to Junction 28 of the M1, it is just off the A38 and on the A61 to Chesterfield. Derby and Nottingham are near, and you can take the A615 to explore the delights of the Derbyshire Dales and Peak District, which are on Alfretons doorstep. The railway station is a great asset, with regular trains to Nottingham, Sheffield, Leeds and Norwich and connections to all points north and south.
Vacant.
Planning permission has been granted by Amber Valley Borough Council for Change of use from E (Financial and Professional services) to C3 (3 X 1 Bed flats) with retention of Class E Commercial Unit. Reference AVA/2020/0975 dated 19 March 2021.
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 Variable Fee (England and Wales).
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 fees apply:
- 5% deposit (subject to a minimum of £5,000)
- Buyer’s Fee of 4.8% of the purchase price for properties sold for up to £250,000, or 3.6% of the purchase price for properties sold for over £250,000 (in all cases, subject to a minimum of £6,000 inc. VAT). For worked examples please refer to the Auction Conduct Guide.
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 Price
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.
