Residential Development
This is a fantastic opportunity to purchase a development site with detailed planning consent granted by Amber Valley Borough Council (AVA/2020/0842) for part demolition of a former theatre building and erection of 20 apartments. The scheme which is over three storeys will retain the historic former frontage to the Premier Electric Theatre with the remainder of the building to be demolished and rebuilt to provide 20 self-contained one and two bedroom apartments with a total of 14 outdoor parking spaces and 6 garages for a total of 20 parking spaces together with an outdoor gym.
A particular benefit of the scheme is that full consent has been granted and as such the site is "ready to go" and situated within an area of significant redevelopment.
Additional Information:
Electric: Not connected.
Water: TBC
Sewerage: Mains
Heating: Mains gas but meter has been removed.
Building construction: Standard brick
Broadband: Standard, Ultrafast and Superfast is 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.
Repairs: Please note there is water ingress and numerous floorboards that have become rotten.
The site itself is situated prominently on the corner of Nottingham Road and Victoria Street in the centre of Somercotes. This is an established area with there being a surrounding mix of residential, retail and other business uses only a short distance from the busy market town of Alfreton. The area is well served by public transport links and has good access via the nearby A38 to Derby to the south (approximately 15 miles) and the M1 junction 28 to the east (approximately 3 miles).
These sales details are awaiting vendor approval.
Freehold. Vacant possession upon completion.
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 Variable Fee (England and Wales).
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 fees apply:
• 5% deposit (subject to a minimum of £5,000)
• Buyers Fee of 4.8% of the purchase price for properties sold for up to £250,000, or 3.6% of the purchase price for properties sold for over £250,000 (in all cases, subject to a minimum of £6,000 inc. VAT). For worked examples please refer to the Auction Conduct Guide.
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.
