Takeaway
The property comprises a freehold ground floor retail unit of approximately 521 sq. ft. (48.4 sq m). The ground floor is let to an occupier trading as Pizza Paz and is generating £7,800 per annum.
The property includes vacant former storage/office space to the upper parts across first and second floors.
The upper parts may be suitable for conversion to alternative uses, subject to obtaining the requisite consents.
Situated on a prominent pitch at the corner of Nottingham Road, and Mansfield Road, the property sits at the junction of the two principal retail streets in Eastwood and diagonally opposite Morrisons, the principal large supermarket in the area.
Tenancy Details:
The ground floor is let to individuals trading as Pizza Paz on a lease which expired 21/11/2018 and paying a rent of £7,800 per annum. The tenant is therefore holding over.
The lease included provisions for rent reviews in every third year of the tenancy, however we are unaware if any were exercised.
These sales details are awaiting vendor approval.
Freehold. Subject to tenancy.
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.
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