Mixed Use
A rare opportunity to acquire the full freehold title of a unique mixed use property, in a sought after village location.
The lot comprises the freehold title of 5, 5a, 5b and 9 Flatts Lane. There are two adjoining shops (5 and 9 Flatts Lane), one with planning consent for A5 Sui Generis, and two flats above (5a and 5b). The flats have been sold on a 99 year lease with 79 years remaining.
5 Flatts Lane:
Retail A1 Shop extending 44m2. Potential for many uses. Previously leased 1997 to 2017 as a Hairdressing Salon, and more recently from 2017 to 2024 at £10,000 per annum as an Estate Agency. Estimated rental valuation £12,000 - £15,000 per annum sold with vacant possession upon completion.
9 Flatts Lane:
A5 A5 Sui Generis extending 59m2. Previously let as a fast food premises from 1997 to 2023. Estimated rental valuation £15,000 - £18,000 per annum sold with vacant possession upon completion.
We feel there is scope to combine the two units to create a large unit extending circa 103m2, subject to consents. Potential for multiple sui generis uses.
Both units are accessed from the shopping parade and also benefit from rear access. There is a car parking bay opposite the shops.
Flats accessed from the rear of the property:
5a and 5b Flatts Lane:
Sold previously on a lease with 79 years remaining. An external entrance door providing access to a shared communal stairwell leading to the flats. The communal entrance, stairwell and landing are included in the lease of one of the flats.
Externally there is a front tarmac parade to the shops. Rear courtyard and driveway to shops and flats.
The property itself may have scope for future development, reconfiguration or investment by way of rear extension, reconfiguration of the existing shops into one large unit (subject to any necessary planning consents), and negotiation of existing leases, making an ideal investment purchase.
The property is located in the large village of Calverton, on a main shopping parade opposite schools and sports facilities, with many successful trading businesses nearby. Calverton Village itself has continuing residential and commercial growth, and also serves wider communities, including Woodborough, Lambley, Oxton and Epperstone. There are excellent road links with Nottingham, Southwell, Newark, Mansfield.
Site
The site is level to front and rear aspects.
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 under an Unconditional sale type.
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 fees apply:
• 5% deposit (subject to a minimum of £5,000)
• Buyers Fee of 2.4% of the purchase price 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.
