Commercial Property
The offices within a period building provide predominantly cellular space with the benefit of central heating and double-glazing. The adjacent building provides open plan space predominantly at first floor level.
The offices have both been refurbished within the last three years. The site has the benefit of car-parking with approximately eleven spaces.
ARTCORE AREA 1,984 sq. ft./176 sqm.
BOURNE AND CO. AREA 1,973 sq. ft./183.2 sqm.
The property is situated off Charnwood Street at its junction with the Avenue on the southern fringe of Derby City centre. Derby’s Intu Shopping Centre is within walking distance and the position is both convenient for both Osmaston Road and Normanton Road.
We understand mains gas, electricity, water and drainage are all available to the property.
Bourne and Co. occupy their section of the building under a 15 year lease effect from the 26th September 2008 subject to a three yearly rate review pattern and three yearly tenant break subject to a minimum six month’s notice. The next break options in September 2020. The current rent is £14, 000 pax.
Artcore Limited (08021875) and charity register number (1148802) occupy their section of the building under a 15 year full repairing and insuring lease with effect from the 7th October 2015, subject to a three yearly upward only rent review. The current rent is £10,000 pax.
The combined rent is therefore £24,000 pax.
We understand from our valuations of the VOA website, that both sections of the buildings are described as office and premises and they have the following rateable values:-
Artcore RV £11,750
Bourne and Co. RV £11,500
Strictly by prior appointment with the joint agents: - Gadsby Nichols, 21 Iron Gate, Derby DE1 3GP – telephone 01332-290390.
Freehold. Subject to tenancy.
Auction Details:
The sale of this property will take place on the stated date by way of Auction Event and is being sold as Unconditional with Fixed Fee.
Binding contracts of sale will be exchanged at the point of sale.
All sales are subject to SDL Property Auctions’ Buyers Terms. Properties located in Scotland will be subject to applicable Scottish law.
Auction Deposit and Fees:
The following deposits and non- refundable auctioneer’s fee apply:
• 10% deposit (subject to a minimum of £5,000)
• Buyer’s Fee of £1,500 inc. VAT
The Buyer’s Fee does not contribute to the purchase price, however it will be taken into account when calculating the Stamp Duty Land Tax for the property (known as Land and Buildings Transaction Tax for properties located in Scotland), because it forms part of the chargeable consideration for the property.
There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.
Additional Information:
For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions’ home page.
This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack (and any applicable Home Report for residential Scottish properties).
Guide Price & Reserve
Each property sold is subject to a Reserve Price. The Reserve Price will 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. A full definition can be found within the Buyers Terms.
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