Land
An excellent investment opportunity to acquire 22 former lock-up garages, all vacant and located to the rear of 1 Cobden Street with an anticipated combined rental income in the region of £13,000-£15,000 per annum when fully let. The garages have not been used for some years and no warranty is given as to their condition.
The site has lapsed planning permission (DER/04/09/00366/PRI) for a one bedroomed detached bungalow on the site and in our opinion an alternative scheme may well be considered.
Cobden Street is a popular location with a varied mixture of housing and is located within easy reach of the city centre, fashionable Friar Gate area, Markeaton Park and the A38 which provides swift access onto the A50, Toyota, Burton and further regional business centres. Excellent freehold investment opportunity.
Please note the site is subject to a TPO – Order Number 238 of 18/05/2000 under the Town & Country Planning Act 1990 – TLC Ref: PT.528250.
Direct on site at viewers risk with no liability on the vendor.
Some adjoining land owners have the right to access through the site to their own rear gardens. Also, Western Power enjoy rights in respect of their Cobden Street sub-station which is situated on the site. The site is sold subject to or with the benefit of any Rights of Way, Wayleaves, Easements, Restrictive Covenants, which may exist whether mentioned in these particulars or not. For further information in relation to these matters please refer to the legal pack.
Freehold.
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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