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Commercial Property
A freehold investment opportunity comprising a Grade II Listed building located between Canal Street and the canal. The property is currently let to two tenants with a combined income of £110,200 per annum.
The principal lease has a current rent passing of £85,000 per annum with an expiry date in 2050.
The property also benefits from parking to the front and is located in the heart of Nottingham city centre overlooking the canal and within walking distance to the train station.
Public House and Restaurant, First and Second Floor Offices – 9,649 sq. ft. (Inc G/F water feature).
Third Floor Offices - 3,193 sq. ft.
TENANCY SCHEDULE -
Nos. 48-52 Canal Street let to BREAKTHROUGHPOINT LIMITED comprising 9,649 sq.ft held on a 50 year lease from 04/08/2000 to 03/08/2050 with rent review on 04/08/2025 and current rent passing of £85,000 per annum.
Unit 3, Canal Side let to THE FRAMEWORK WEB DEVELOPMENT LIMITED who occupy 3,193 sq.ft held on a lease dated 26/07/2022 for a term of 3 years at current rent passing of £25,200 per annum.
Interested parties are advised to inspect the legal pack for more information 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. 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.
