property
Mixed use investment property /potential development opportunity
Ground floor commercial unit with residential accommodation above
Shop let on new 5 year lease at £8,400 p.a.
Flat let on an AST for £375 pcm with scope to increase
Potential building plot in rear garden with separate access (subject to p/p)
EPC Rating: Tbc
A large mixed use investment property currently providing commercial premises on the ground floor with residential accommodation on the upper two floors and achieving a rental income of £12,900 pa.
The property has a large rear garden which lends itself to a possible building plot (subject to planning permission) with potential to create separate access from Forester Street, subject to consent.
The property is situated in a prominent trading position on a busy road with local amenities, schools, shops and public transport links close by.
The double glazed accommodation currently comprises:
A ground floor sales shop let on a new 5 year lease, producing £8400 per annum and a good sized two bedroom (both with en-suites) flat, which spans over two floors, currently let at £375 pcm with scope to increase.
There is potential to extend the property further as a building adjoining the property has recently been taken down and new foundations have been laid in its place.
The property also offers potential to convert the ground floor into a residential flat (subject to the necessary consents).
Tenure
Freehold. Vacant possession on completion.
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Prospective purchasers are advised to check with the auctioneers before the sale that the property is neither sold nor withdrawn.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 £500 (plus VAT) payable on the fall of the hammer.
For Sale By Auction - Thursday 4th July 2013
At Nottingham Racecourse, Colwick Park, Nottingham NG2 4BE
Commencing at 11.30 am
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