Commercial Property
A parade of six commercial units (two knocked into one) let to five separate long-standing tenants available with current rent passing of £29,726 per annum.
The investment comprises -
Units 1 and 2 - Let on an FRI lease until Sept 2024 with rent passing of £15,000 per annum. We have no internal layout information.
Unit 3 - Let on a lease signed 29th September 2012, holding over at £3,360 per annum. We have no internal layout information.
Unit 4 - Lease signed 2nd April 2012 on 5 year term now holding over at £3,360 per annum. We have no internal layout information.
Unit 5 - Lease signed December 2022 for term of 3 years with rent passing £3,950 per annum. The unit we are advised extends to circa 318 sq.ft to the ground floor with upper office space of around 300 sq.ft (not inspected).
Unit 6 - Lease signed 13th June 2022 for a 12-month term with rent passing of £4,056 per annum. The unit we are advised benefits from roller shutters, WC and extends to the ground floor circa 300 sq.ft and benefits from upper office space extending to approximately 280 sq.ft (not inspected).
We advise interested parties to inspect the legal pack for more information as to lease details and advise parties to visit the premises during trading hours. Please be respectful to the business owners.
The premises are situated along King Street on Market Place in Sutton in Ashfield. There is parking to the front. Sutton in Ashfield is a large town which serves a population of approx. 50,000 and provides a wide range of facilities including good shops, modern shopping centre, indoor and outdoor markets, schools of all grades and regular bus services to Mansfield, Nottingham and Alfreton which are some 4, 14 and 5 miles away respectively.
There is excellent road access from the town via the A38 to Junction 28 of the M1 Motorway which is less than 4 miles distance.
Please be advised that the auctioneers have not personally inspected the property. Prospective buyers are advised to make a viewing enquiry and any other necessary independent enquiries before placing their bid, as this will be binding.
Freehold. Subject to tenancy.
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 (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.
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 £1074 inc. VAT
The Buyer’s Fee does not contribute to the purchase price and will be considered as part of the chargeable consideration for the property in the calculation of stamp duty liability.
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.
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.
