Mixed Use
Freehold reversion opportunity. 99 year lease until 24.12.2034.
Three storey mixed use retail and residential freehold reversion property in the heart of Aspley.
The opportunity comprises the freehold with residue of 99 year lease until 24.12.2034 let to AF Blakemore on FRI terms at a fixed ground rent of £34.70 (no rent reviews).
We are advised that the gross Estimated Rental Value (ERV) of the whole property stands at approximately £38,000 per annum as of 2023.
The building is located within a popular retail parade surrounded by national and regional operators with an Asda supermarket and a recently opened library close by in the densely populated suburb of Aspley. The property is close to a bus stop. The nearest motorway is J26 M1.
The unit benefits from off-street parking to the front.
Accommodation:
The ground floor has an approximate floor area of 1,515 sq.ft.
First Floor and Second Floor comprise: 2 x spacious two-bedroomed flats.
Flat 8A: NIA approx. 1,066 sq.ft
Flat 10A: NIA approx. 1,001 sq.ft
The site benefits from a self-contained rear service yard to the rear.
The property is sublet as follows:
Ground Floor Retail Unit - sub-let at £15,000 per annum from 01.17 until the expiry.
2 x 2 bed flats over held on Assured Shorthold Tenancies.
Note: Prospective buyers are advised to check the legal pack and to make all necessary independent enquiries prior to placing their bid as this will be binding.
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. See legal pack.
N/A
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 auctioneers fee apply:
• 10% deposit (subject to a minimum of £5,000)
• Buyers Fee of £1,500 inc. VAT
The Buyers 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.
