property
For sale by auction - Friday 5 December 2014
At Nottingham Racecourse, Colwick Park, Nottingham, NG2 4BE
Commencing at 11.30am
Mixed use investment property
Potential income of £7590 per annum
Ground floor commercial and first floor self-contained flat
Garage to rear
Scope for further development STPC
EPC Rating: TBC
Situated on High Street, Stanton Hill, a superb mixed use investment property offering a potential income of £7590 per annum. The ground floor is currently let to the same tenant who has been in occupation for 25 years, being let at £70 per week. The first floor flat has recently become available, but was last let at £76 per week. Subject to obtaining the necessary planning consent, there is an opportunity to further develop or extend the existing property.
The accommodation briefly comprises:
On the Ground Floor:
Retail Sales Area 14ft 7 x 16ft 4
Rear Store Room 16ft 4 x 12ft 2
Office 9ft 8 x 9ft 1
Kitchen 7ft 5 x 7ft 8
Rear Yard
With outside wc and detached garage, which is accessed off Morley Street.
On the First Floor:
Self-Contained Flat
With its own entrance, providing the following accommodation:
Entrance Hall
With stairs to first floor.
Landing
With doors off to Bedroom, Lounge, Kitchen and Bathroom.
Kitchen 12ft 2 x 10ft
Fitted with a range of wall and base units comprising cupboards, drawers and work surfaces incorporating a stainless steel sink unit, integrated oven and hob, space for further kitchen appliances.
Lounge 14ft 1 x 7ft 9
Pvc double glazed window to front elevation, wall mounted gas fire.
Bedroom 14ft 3 x 11ft
With pvc double glazed window to front elevation.
Bathroom
With pedestal wash hand basin, panelled bath and low flush wc. Pvc double glazed window incorporating an opaque glazed unit.
Outside
To the rear of the property there is a driveway with gated access which in turn leads to a detached single garage. Subject to obtaining the necessary planning consents, there could be a possibility of developing this part of the site.
Tenure
Freehold. Subject to tenancy.
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Prospective purchasers are advised to check with the auctioneers before the sale that the property is neither sold nor withdrawn.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 deposits.
The sale of each lot is subject to a buyers fee of £750 (inc VAT) payable on exchange of contracts.
Viewings
By appointment with the auctioneers - 0115 958 8702.
*Guide Prices and Reserve Prices
Each property sold is subject to a Reserve Price. The Reserve Price, which is agreed between the seller and the auctioneer just prior to the auction, would ordinarily 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. Both the Guide Price and the Reserve Price can be subject to change up to and including the day of the auction. For a full definition of Guide Price and Reserve Price go to www.grahampennyauctions.com/glossary.
