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Commercial Property
Investment opportunity producing £79,450 per annum (4 tenants).
A freehold investment opportunity comprising a 3-storey building plus basement. The property is of solid brick construction surmounted by a pitched roof situated within a Conservation Area along Mansfield Road. Current rental income £79,450 per annum.
The building comprises 4 retail units (currently a hot food takeaway, nail bar, hairdressers, and health food shop) with residential above. The property, as a whole, is currently let on four FRI Leases.
Unit 31 Mansfield Road is held on a Lease commencing 25/01/24 for a term of 5 years {tab}with current rent passing of £18,100 per annum.
Unit 33 Mansfield Road and Upper Floors 31-37 is let on a lease commencing 01/01/2003 for a term of 25 years with current rent passing of £34,400 per annum.
Unit 35 Mansfield Road is let on a lease commencing 26/11/2021 for a term of 6 years with rent passing of £12,850 per annum.
Unit 37a Mansfield Road is let on a lease commencing 01/07/2023 for a term of 6 years with rent passing of £14,100 per annum.
Interested parties are advised to inspect the legal pack for more information prior to placing their bid, as this will be binding.
Mansfield Road is located within walking distance to Nottingham city centre.
Additional Information:
Water: TBC
Sewerage: TBC
Heating: TBC
Broadband: Standard and Ultrafast are available in this location.
Mobile Signal: EE, O2, Vodaphone and Three are available in this location for Voice and Data.
Satellite and Cable TV Availability: Sky and BT are available in this location.
Please be advised that the auctioneers have not personally inspected the property. Prospective buyers are advised to make a viewing enquiry and any other necessary independent enquiries before placing their bid, as this will be binding.
These sales details are awaiting vendor approval.
Freehold. Subject to lease.
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 auctioneers fee apply:
• 10% deposit (subject to a minimum of £5,000)
• Buyers Fee of £1,500 inc. VAT
The Buyers 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 Price
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.
