Commercial Property
A three storey investment property located on a busy High Street in Derbyshire. The current tenant has been in situ for a number of years and is looking to remain long term. The current rental income is £15,000 per annum which represents a very healthy yield of 11% against the guide price.
The property is in a prime and very sought after location and boasts 1,140sq ft spread over three floors. The building is in good condition and could make an excellent long term investment for an investor.
The property is rented to one tenant who operates the Gym and occupies the 2 apartments.
There is a rent review in January and the building previously had planning permission for apartments which could be reinstated in the future offering good long term prospects for the property.
PLEASE NOTE: Under the Estate Agents Act 1979 we are required to declare any conflict of interest. The seller of this property is also our joint agent in the sale, and will receive part of the buyers fee as commission. If you have any queries regarding this, please contact us for further information.
Please be advised that whilst our joint agent has conducted an inspection, 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 tenancy.
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 4.8% of the purchase price (subject to a minimum of £6,000 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.
