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Commercial Property
A freehold industrial site comprising 16 units along with land used as storage. Total floor area of 11,547 sq.ft.
The current income being produced is circa £57,267.50 per annum, part let with 3 vacant units. Estimated rental value when fully let £92,376 per annum plus. Active management potential. Each unit is of brick construction with a roller shutter to the front and allocated parking.
The site is accessed off the Bewcastle Road in Nottingham, opposite the entrance to the Duke of St Albans Public House and is located circa 5 miles north of Nottingham and a few miles from the M1 motorway.
SCHEDULE OF INCOME -
Unit 1 extending to 475 sq.ft. Commencing 01/04/2022 at £3,300.00 per annum (rolling).
Unit 2 extending to 475 sq.ft. Commencing 18/07/2013 at £3,000.00 per annum (rolling).
Unit 3 extending to 616 sq.ft. Commencing 23/09/2015 at £3,750.00 per annum (rolling).
Unit 4 extending to 625 sq.ft. Commencing 03/03/2015 at £3,750.00 per annum (rolling)
Unit 5 extending to 627sq.ft. Commencing 28/03/2019 at £4,127.50 per annum (holding over).
Unit 6 extending to 843sq.ft. Commencing 01/10/2022 held on a 6 year term at £5,900.00 per annum.
Unit 7 extending to 861 sq.ft. Vacant.
Unit 8 extending to 482sq.ft. Vacant.
Unit 9 extending to 492 sq.ft. Commencing 09/05/2017 at £3,250.00 per annum (holding over).
Unit 10 extending to 1,026sq.ft. Commencing 01/07/1997 at £5,500.00 per annum (rolling).
Unit 11 extending to 986 sq.ft. Commencing 09/12/2009 at £5,700.00 per annum (rolling).
Unit 12 extending to 981 sq.ft. Commencing 09/06/2014 at £6,000.00 per annum (rolling).
Unit 13 extending to 987sq.ft. Vacant.{tab}
Unit 14 extending to 786 sq.ft. Commencing 01/04/1991 at £4,800.00 per annum.
Unit 15 extending to 641 sq.ft. Commencing 17/05/1993 at £3,680.00 per annum.
Unit 16 extending to 644 sq.ft. Commencing 30/07/2021 held on a 3-year term at £4,510.00 per annum.
Storage Land adjacent to Unit 13 circa 639 sq.ft. Vacant.
Storage Land adjacent to Unit 7 circa 1,788 sq.ft. Vacant.
TOTALS - 11,547 sq.ft
£57,267.50 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.
These sales details are awaiting vendor approval.
Freehold. Part let/part vacant.
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.
