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Commercial Property
An investment opportunity located along 27 - 29 Mansfield Road. The property comprises a 3 storey building plus basement and is of brick construction along with a rendered finish to the front elevation, surmounted by a pitched roof, situated within a Conservation Area. Current rental income £37,030 per annum from two tenants.
The investment comprises 2 retail units (currently a dental practice and hot food takeaway) with respective space above (not inspected).
27 Mansfield Road is held on a Lease from 29 September 2022 for a term of 12 years {tab}with current rent passing of £22,230 per annum. We are advised that the lease includes the First Floor for number 27 and 29.
Unit 29 Mansfield Road is held on a Lease commencing 28/02/2007 for a term of 17 years, 8 months and 29 days (25/11/2024) with current rent passing of £14,800 per annum.{tab}This is for the ground floor only.
Interested parties are advised to inspect the legal pack for more information prior to placing their bid, as this will be binding.
The second storey above the two units (27 -29) is currently vacant. This could potentially pose as an additional income stream.
Mansfield Road is within walking distance to Nottingham city centre with a substantial demand for both commercial and residential within the area.
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.
These sales details are awaiting vendor approval.
Freehold. Subject to lease.
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.
