property
For sale by auction - Tuesday 8 September 2015
At Nottingham Racecourse, Colwick Park, Nottingham, NG2 4BE
Commencing at 11.30am
Ground floor commercial unit with residential accommodation above
Shop let on a 5 year lease at £8,400 p.a.
Two self contained flats achieving £9,480 p.a
High yielding investment opportunity achieving £17,880 p.a
EPC Rating: G
A large mixed use investment property currently providing commercial premises on the ground floor with two residential flats on the upper floors.
The double glazed accommodation currently comprises:
A ground floor sales shop let on a 5 year lease, producing £8,400 per annum and two self contained studio flats, which span over two floors, currently achieving a combined rent of £9,480p.a. The overall total rental being £17,880p.a.
The property is situated in a prominent trading position on a busy road with local amenities, schools, shops and public transport links close by.
The property also offers potential to convert the ground floor into residential flats (subject to the necessary consents).
Tenure
Freehold. Subject to tenancies.
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Prospective purchasers are advised to check with the auctioneers before the sale that the property is neither sold nor withdrawn.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.
