Commercial
A well maintained and improved three storied building with retail at ground floor level and residential accommodation with self contained access on first and second floors. The premises are located within a parade, the retail unit being next door to The Derbyshire Building Society branch office, within the town centre area and just down from the Market Place.
The retail unit is let on a fixed term lease at a rent of £8,000 per annum, and the flat is let on an assured shorthold agreement at £450 pcm (£5,400 per annum equivalent). Full annual yield - £13,400 p.a.
The ground floor retail sales shop is split level and has a sales area of about 34.85 square metres (332 square feet), with a maximum shop depth of 36'4" and an internal width of 12'6". In addition there is an ancillary accommodation comprising a storage area, a kitchen and a wc facility.
The first and second floor flat is approached via an external staircase at the rear and has recently refurbished two bedroomed accommodation with the benefit of gas central heating, uPVC double glazing and a security alarm. The accommodation is well fitted and presented and comprises
Entrance Hallway
Modern Fitted Kitchen
With built in oven and hob, range of base and wall cupboard units, built in dishwasher and central heating boiler.
Lounge
Having fireplace feature.
Stairs to Second Floor
With
Two Double Bedrooms
Modern Fitted Bathroom
Having bath, wash basin, wc and shower compartment.
To the rear is an enclosed yard with a wrought iron gate to a parking area (with shared access) and a storeplace.
Lease Details
The shop is held on a 3 year lease from 13th October 2008 at a rent of £8,000 per annum.
The flat is subject to an assured shorthold agreement commencing September 2010 at a rent of £450 pcm.
Total Reserved Rent £13,400 per annum.
Vendors Solicitors/Licensed Conveyancers
Ellis-Fermor & Negus, 5 Market Place, Ripley, Derbys DE5 3BS telephone 01773-744744
Tenure
Freehold. Subject to occupancies.
Conditions Of Sale
The Conditions of Sale will be deposited at the offices of the auctioneers and vendors solicitors/licensed conveyancers seven days prior to sale and the purchaser shall be deemed to have knowledge of same whether inspected or not. Any questions relating to them must be raised prior to 11.30 am. Prospective purchasers are advised to check with the auctioneers before the sale that the property is neither sold or withdrawn.
The purchaser will also be deemed to have read and understood the auction conduct notes printed within the sale catalogue.
Note
Prospective purchasers will need to register within the auction room before the sale commences. Two items of identity will be required together with an indication of how a contractual deposit will be paid. We do not take cash or credit card deposits.
The sale of each lot is subject to a buyers contract handling fee of £495 (inc VAT) payable on the fall of the hammer.
For Sale by Auction: Thursday 17th February 2011
At Pride Park Stadium, Derby
Commencing at 11.30 am
EXCELLENT MIXED COMMERCIAL AND RESIDENTIAL INVESTMENT OPPORTUNITY
Well let town centre retail premises with s/c two bedroomed flat over
Combined rental yield £13,400 p.a.
