Commercial
Situated adjoining the Ascot Drive road junction, and part of a parade of shops with forecourt parking, an opportunity to acquire a mixed commercial and residential investment property.
The shop is let and a new lease has just been agreed for a period of 15 years. The flat is let on an assured shorthold agreement which has just been renewed for a further 24 months.
The two floor property of brick and tile construction comprises the following:
742. Retail Sales Shop 27'3" x 12'9" (347 sq ft GIA)
Having uPVC double glazed entrance door and display window to front. Access off to:
Stock Room/Office 9'6" x 6'8"
Storeplace
With wc off.
742A. Residential Flat which is mostly double glazed.
Entrance Hall
With stairs up to first floor landing.
Bathroom
With modern white suite also having electric shower over bath.
Sitting Room
With laminate floor.
Double Bedroom
Breakfast Kitchen
With modern fittings including work surface with inset stainless steel sink, base cupboard and drawer units, wall cupboards, plumbing for washing machine and cooker point.
Outside
Forecourt parking. Shared side gated access to rear garden.
Lease Details
The shop has been let on a five year lease which has just been renewed for a 7 year term (with the option to renew a further 5 years) at a revised rent of £700 per calendar month.
The flat has been let on an assured shorthold agreement which has just been renewed for a 24 month term at a reserved rent of £425 pcm.
Total reserved rent £13,500 per annum.
Directions
Leave Derby City centre along Osmaston Road and continue for some distance towards Allenton. On reaching the traffic light junction with Ascot Drive on the left, the premises will be found on the right hand side as part of a parade of shops.
Vendors Solicitors/Licensed Conveyancers
John M. Lewis & Co, 92 St. Peter's Street, Derby DE1 1SR telephone 01332 292204
Tenure
Freehold. Subject to tenancies.
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 Prospective purchasers are advised to check with the auctioneers before the sale that the property is neither sold or withdrawn.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 14th October 2010
At Pride Park Stadium, Derby
Commencing at 11.30 am
MIXED COMMERCIAL/RESIDENTIAL INVESTMENT PROPERTY
Ground floor sales shop on lease
One bedroomed self-contained upper floor flat on assured shorthold agreement
Combined reserved rent £13,500 per annum
