Commercial
FOR SALE BY AUCTION: THURSDAY 16TH APRIL 2015
AT IPRO STADIUM, DERBY
COMMENCING AT 11.30 AM
St. Mary's Gate is a prestigious address within the Cathedral Quarter of Derby City centre, having many listed buildings, originally gentleman's residences but now mainly housing professional businesses. It is a very attractive locality with the Cathedral at the top of the street, and the noted Cathedral Quarter Hotel towards the lower end.
The premises have been the offices of a solicitors practice for a great many years, and are being offered for sale subject to a six year lease which commenced in December 2013.
The accommodation, which ranges over three floors, is briefly described as follows
Reception and Reception Office
Two Offices (inter-connected)
Strong Room
Kitchen
Two WC's
Stairs to First Floor and
Five Offices
Wc
Store Room
Stairs to Second Floor and
Six Offices
Store Room
Externally
To the rear is a car parking area for up to five/six vehicles. The access is subject to a shared licence to cross and re-cross the neighbouring property, and access to the public road is via the hotel drive.
Attached at the rear of the building is a former two storied coach house which is not included in the lease, and will not be offered with vacant possession. The vendors reserve the right the use this part of the premises as a storage facility during the term of the current lease and at no rent.
Lease Details
The premises are let to VHS Fletchers (Solicitors) on a six year lease from December 2013 at a rent of £12,000 per annum (internal repairing terms) subject to a contribution of £2,000 towards any external repairs. The lease has a three year break-clause and there is provision for a rent review in December 2016. The landlord insures the building.
Vendors Solicitors/Licensed Conveyancers
The Smith Partnership, 4th Floor, Celtic House, Heritage Gate, Derby DE1 1LS telephone 01332-225225
Tenure
Freehold. Subject to lease.
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Prospective purchasers are advised to check with the auctioneers before the sale that the property is neither sold nor withdrawn.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 all property is subject to a buyers fee of £750 (inc VAT).
*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
FOR EPC'S AND LEGALS PLEASE SEE THE WEBSITE
SUPERB COMMERCIAL INVESTMENT PROPERTY
Imposing offices in the heart of the Old City Conservation Area (Cathedral Quarter)
Expansive three floor accommodation currently occupied under a six year lease
Car parking at rear for up to 5/6 cars
