property
For sale by auction - Friday 10 July 2015
At Nottingham Racecourse, Colwick Park, Nottingham, NG2 4BE
Commencing at 11.30am
Mixed use investment opportunity
Ground floor commercial unit with two residential flats above
Combined income of £15,000 p.a.
Popular location close to the city centre
EPC Rating: TBC
An excellent opportunity to acquire three storey mixed use property situated on the A610, a major arterial route into Nottingham City Centre, providing a retail unit on the ground floor and two residential flats on the upper floors.
Canning Circus is a mixed use area supporting a diverse range of retail, restaurant, residential, student and commercial uses on the outskirts of the city centre.
The property currently achieves a combined income of £15,000 p.a. Each flat is let for £375 pcm and the retail unit is let for £500 pcm.
The accommodation in brief comprises:
Ground Floor:
Sales shop with store/ w.c.
First Floor (Flat One):
Sitting room, kitchen, bedroom, bathroom/w.c.
Second Floor (Flat Two):
Sitting room with kitchen area, bedroom, bathroom/w.c.
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Prospective purchasers are advised to check with the auctioneers before the sale that the property is neither sold nor withdrawn.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.
