Commercial
DRAFT DETAILS ONLY- AWAITING VENDOR APPROVAL
LOCATION/SITUATION
The property is located in a good trading position within the heart of Littleover village at the junction of Burton (A5250) and Harrington Roads.
Nearby occupiers include Nationwide Building Society, Co-op Travel, Iceland and Birds Bakery.
DESCRIPTION
The property comprises a detached two storey Victorian building and is arranged as a single retail unit at ground floor and a self contained one bedroomed flat on the first floor.
The accommodation offered is as follows -
Double Fronted Retail Sales Shop
With recessed central entrance. Kitchen/Staff Room. Substantial Storage Facilities to rear, in all about 83.90 square metres (900 square feet). The business is unaffected.
Self-Contained One Bedroomed Upper Floor Flat
Having living room, kitchen, bedroom and bathroom.
Outside there is a tarmac'd forecourt with off road parking for a number of vehicles. The property has a long frontage to Harrington Road.
The freehold premises are being sold subject to the existing lease, and the business is unaffected.
Tenancy Details
The entire property is let to Northcliffe Retail Ltd (now part of Rippleglen Ltd) on full repairing and insuring terms, for a term of 25 years from 6 November 2000 with 5 year rent reviews.
The current annual rent passing is £11,500. The next rent review is November 2010.
Covenant
Northcliffe Retail Ltd was acquired by Rippleglan Ltd in 2007 to form one of the UK's largest newsagency groups. Founded in 1979 it now operates from approximately 150 outlets and trades under several names including Mercury News Shops, Post News Shops and Telegraph News Shops fascias.
Directions
From Derby City centre take the Burton Road towards Littleover, crossing the outer ringroad and on into the shopping area. Take the first available turn on the right into Harrington Road and the premises will be found immediately on the right hand side.
Tenure
Freehold.
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 Prospective purchasers are advised to check with the auctioneers before the sale that the property is neither sold or withdrawn.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 or credit card deposits.
The sale of each lot is subject to a contract documentation charge of £395 (inc VAT) payable on the fall of the hammer.
For Sale by Auction: Wednesday 31st March
At Pride Park Stadium, Derby
Commencing at 11.30 am
SUPERB COMMERCIAL/RESIDENTIAL INVESTMENT
Prominent sales shop with self-contained one bedroomed flat above
Busy suburban centre
Let on a long lease with 15 years unexpired (FRI Terms)
Current annual rent £11,500, subject to a review in November 2010
