Mixed Use
Available is this mixed use premises.
Fronting a busy road in the residential area of Sherwood, this prominent building offers a flexible investment with a retail area on the ground floor with a further duplex apartment above, including a garden to the rear.
The property comprises a freehold unit with the large ground floor retail space being used as an Indian takeaway with a shop unit and counter area, two kitchens, an office and WC to the ground floor. Producing a rent of £900 PCM.
The two bedroom apartment on the first floor comprises a kitchen, a family bathroom and two double bedrooms. The apartment has separate access to the side elevation and an enclosed courtyard garden. Current rent £1,100 PCM including bills (approx. £190 PCM).
The combined gross rental income of £24,000 per annum reflects an attractive yield of approximately 12.4% based on the guide price. This represents an excellent opportunity to acquire a high-yielding freehold investment.
Glazed windows and door to the front elevation. Laminate and part tiling flooring. Wall mounted radiator. Recessed spotlights to the ceiling. Coving to the ceiling. Counter top area with front customer facing zone. Internal doors leading into the office, kitchen and lobby leading down to the cellar.
Wall mounted radiator. Ceiling light point. Shelving and storage space.
Glazed window to the rear elevation. Tiling to walls. Ceiling light points. Space and plumbing for a freestanding sink. Doorway leading into the additional kitchen
Glazed window to the side elevation. Ceiling light points. Space and plumbing for a freestanding sink. Access door to the side elevation leading to the courtyard. Internal sliding door leading to bathroom.
Glazed window to the rear elevation. Wall light point. Vanity wash hand basin with dual heat tap. Internal door leading into the WC.
Glazed window to the rear elevation. Ceiling light point. Low level flush WC. Wall mounted gas central heating combination boiler.
UPVC double glazed access door to the side elevation. Ceiling light<br>point. Carpeted staircase leading up to the first floor landing.
Carpeted flooring. Wall mounted radiator. Ceiling light points. Internal doors leading into the kitchen, bathroom, bedroom 1, 2 and staircase up to bedroom 3.
UPVC double glazed windows to side elevation. Tiled splashbacks. Wall mounted radiator. Ceiling light point. Range of fitted base units incorporating worksurfaces above. Stainless steel sink and drainer unit with dual heat tap. Space and point for a freestanding cooker. Space and plumbing for an automatic washing machine. Space and point for a freestanding fridge freezer. Breakfast bar with ample seating space. Airing cupboard housing Baxi gas central heating boiler.
UPVC double glazed window to the rear elevation. Tiled walls. Wall mounted radiator. Ceiling light point. White 3 piece suite comprising of a panel bath with hot and cold taps and electric shower over bath, pedestal wash hand basin with hot and cold taps and a low level flush WC.
UPVC double glazed windows to the rear and side elevations. Carpeted flooring. Wall mounted radiator. Ceiling light point.
UPVC double glazed windows to the front and side elevations. Carpeted flooring. Wall mounted radiator. Ceiling light point.
UPVC double glazed window to the side elevation. Carpeted flooring. Wall mounted radiator. Ceiling light point. Access intomeaves for further storage space.
To the rear of the property there is an enclosed courtyard with security lighting, brick wall the boundaries and secure access to the rear of the retail unit and first floor apartment.
Construction Material: Standard Brick. Broadband Coverage: Standard, Ultrafast and Superfast. Mobile signal: O2, Vodafone, EE and Three. Satellite and Cable: BT and Sky.
We have not been provided with evidence of rent increase in relation to the ground floor retail unit and cannot therefore confirm the rental figure referred to in our marketing. Prospective buyers are advised to make all necessary independent enquiries prior to placing their bid as this will be binding.
These sales details are awaiting vendor approval.
Freehold. Subject to tenancy.
- Heating Supply: Gas
- Electric Supply: Mains Supply
- Water Supply: Mains Supply
- Sewerage Arrangements: Mains Supply
On Street
Auction Details
The sale of this property will take place on the stated date by way of Auction Event and is being sold under an Unconditional sale type.
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 (subject to a minimum of £6,000 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.
