Commercial
The property comprises a very large corner site (corner of Astil Street and Woods Lane), in a predominantly residential location, and contains expansive living accommodation broadly comprising a hairdressers shop, ground floor flat (currently owner occupied), two first floor flats (both let). The enclosed yard contains three open fronted garages, and a number of stores/workshops.
It is considered that the yard area with its buildings could form a further application for residential development. Alternatively could be separately let and hence derive a greater income.
As its stands however, the property is capable of deriving an income of between £17,000 and £17,500 a year, and that figure could be increased if the yard was separately let. The property provides excellent investment potential.
The corner hairdressers shop together with staff room and wc is let on a new three year lease from May 2010 at a reserved rent of £6,660 per annum.
Self-contained first floor flat with access from Woods Lane comprises an entrance lobby with stairs up to landing, sitting room, double bedroom, kitchen, shower room/wc. It is furnished, double glazed and has electric storage heating and let on an assured shorthold tenancy.
Self-contained first floor flat with access from Astil Street having entrance lobby with stairs to landing, kitchen, bathroom/wc, double bedroom and sitting room. The flat is furnished, double glazed and has electric storage heating. It is let on an assured shorthold agreement.
Self-contained ground/first floor flat (formerly owner occupied) having entrance lobby, dining kitchen, large sitting room/dining room, first floor landing, bathroom with shower bath/wc, large double bedroom. The flat is furnished, double glazed and has gas central heating.
Externally, double gates open onto a lock-up yard. There are three open fronted garages, a lean-to store/workshop, wc with wash basin, two inter-connected stores/workshops and a large integral workshop (under the first floor accommodation of the owner occupied flat).
Note
Subject to detailed planning permission the property offers scope for extension, further development or redevelopment.
Tenancy Details
32 in hand
32a let @ a reserved rent of £300 pcm
32b let @ a reserved rent of £280 pcm
32c (shop) let on new 3 year lease @ a reserved rent of £555 pcm
Current combined reserved rent - £13,620 p.a.
Directions
From Stapenhill Road turn left at the traffic island onto Stanton Road and at the right hand bend bear left onto Woods Lane. The premises will be found on the left hand side on the corner of Astil Street.
Vendors Solicitors/Licensed Conveyancers
The Smith Partnership, 45 High Street, Burton on Trent, Staffs DE14 1JP – telephone 01283-548282
Tenure
Freehold. Part vacant; part subject to tenancies/lease.
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 buyers contract handling fee of £395 (inc VAT) payable on the fall of the hammer.
For Sale By Auction: Thursday 20th May 2010
At Pride Park Stadium, Derby
Commencing at 11.30 am
EXCELLENT INVESTMENT PROPERTY, with further development potential
Corner retail shop – let to hairdressers on new 3 year lease
Three self-contained one bedroomed flats, one vacant for owner/occupier if desired
Lock-up yard with several workshops – potential for further income or development.
