13th March 2019
Nottinghamshire mixed-use property could offer development potential
A mixed-use property in Nottinghamshire provides both an investment and a potential development opportunity when it goes under the hammer at SDL Auctions Graham Penny’s auction at Nottingham Racecourse next month.
32 High Street, Stanton Hill, near Sutton-in-Ashfield, is a three-storey building on a corner plot with a *guide price of £82,000+.
The main building comprises a retail unit on the ground floor and a spacious two-bedroomed apartment over the upper two storeys.
At the back of the property is a rear yard with shared access, approached from Albert Street, plus two separate lock-up garages, one of which is let at £600 a year on a verbal agreement, and the other standing vacant. In addition, there is a further outbuilding with separate access; this two-roomed building requires refurbishment and previously had planning permission for conversion into a one-bedroomed apartment.
The double-fronted shop was formerly a delicatessen and features the retail space plus a kitchen/preparation area and storage area behind.
With separate access from the rear of the property, the apartment has recently been refurbished to a very good standard with brand new kitchen and bathroom. The accommodation is arranged over two floors, with the living room, kitchen and bathroom on the first floor, and two spacious loft-style bedrooms above.
Jason Lee, national sales manager at SDL Auctions, said: “There is a great deal of potential at this property. The main building on its own makes this a great investment, with its beautifully refurbished apartment and a useful retail space on the ground floor.
“However, it is the outbuildings which add an extra dimension to this property, with the garages suitable for letting – one of them is believed to be currently let at £600 a year – and the possibility of converting the additional outbuilding into a one-bedroomed apartment, subject to the planning permission being renewed.”
The property is in the Nottinghamshire village of Stanton Hill, which has a variety of shops and takeaways, plus several parks and open spaces, including Healdswood Park, Teversal Trails and Brierley Forest Park, with its visitor centre, nature walks and sculpture trail, football ground and play area.
All the amenities of Sutton-in-Ashfield, including supermarkets, restaurants, doctors’ surgery and schools are just a few minutes’ drive away and there are buses into the town every hour.
King’s Mill Hospital and the larger town of Mansfield are nearby and there are good transport links to the M1, providing speedy access to Nottingham, Chesterfield and Sheffield.
The property is due to be sold at SDL Auctions Graham Penny’s auction at Nottingham Racecourse on Tuesday 9 April, with a guide price of £82,000+. Entries are still being accepted for the auction; for a free auction appraisal, call the team on 0115 958 8702 or click here.
* Each property is subject to a Reserve Price which may be different from the Guide Price. For full definitions see www.sdlauctions.co.uk/glossary.