Detached House
For sale by auction - Friday 5 December 2014
At Nottingham Racecourse, Colwick Park, Nottingham, NG2 4BE
Commencing at 11.30am
Block of twenty lock up garages and two portable cabins
Situated in the heart of a predominantly residential area
Currently fully generating £11,352 pa
Ideal investment opportunity
Ideal investment or potential development opportunity, STPC.
A block of twenty lock-up garages of brick construction and two portable cabins, situated in the heart of a predominantly residential area and currently fully let on shorthold tenancy agreements. Annual rental currently £11,352 per annum (due for rent increase in 2015). Profitable investment opportunity yielding a good rate of return against capital with potential for rental increase.
Site of approximately a third of an acre suitable for re-development, subject to planning consent.
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Prospective purchasers are advised to check with the auctioneers before the sale that the property is neither sold nor withdrawn.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.
