Mixed Use
A mixed-use commercial investment comprising a ground floor optometrist held on a 10 year lease with rent passing of 9,500 per annum, along with a one bedroomed apartment above.
A three storey brick built end terraced investment property located along Victora Road. The property comprises a retail unit trading as a well-established Optometrist on the ground floor along with a one bedroomed apartment on the second and third stories. The auctioneers have not inspected the property.
The property is situated along Victoria Road, Netherfield, Nottingham close to the Junction with Garnett street. Carlton Train station is within a short walking distance from the property. The area comprises a mixture of local and National retailers with a Co Op supermarket a few doors away.
We understand that the property is freehold and will be offered tenanted. Please see the legal pack for further information.
We are advised that the commercial unit is held on a 10 year full repairing lease commencing 1 April 2019 with a rent passing of £9500 per annum. The tenant may terminate the lease by virtue of a break clause after 5 years (1.4.2024). We advise interested parties to inspect the legal pack for more information.
We are advised that the first-floor apartment is occupied on an AST. We would advise interested parties inspect the legal pack for more information.
We understand that VAT will not be chargeable.
By arrangement with the auctioneers
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.
