Commercial Property
***SUPERB COMMERCIAL INVESTMENT OPPORTUNITY***
A rare and exciting freehold opportunity to acquire, two prominent retail units with large glazed frontage with accommodation arranged over three floors, producing a combined rental income of £17,000pa, this represents an impressive 10.6% return based on the guide price.
We understand there is significant scope to the increase the rents for number 19 to £18,500pa and 19a to £7,500pa, this potentially producing a revised combined rental income of £26,000pa.
Number 19 boast a total NIA of 1,795 sqft ( 166.8 sq m2) arranged over three floors with 19a to the ground floor having a total NIA of 231 sqft (21.5 sq m2). We understand both tenants are holding over with 19a becoming vacant in May/June of this year due to retirement.
The shops are mostly built of stone set beneath a shallow pitched tiled roof, being positioned along a parade of shops along the main arterial A6 road through the heart of Belper in a prime trading position.
The historic market town of Belper is well known for the famous East Mill and River Gardens and is situated within the UNESCO World Heritage Site. The city of Derby lies 8 mile to the south and provides swift access onto the A38, A52, M1 Motorway and further regional business centres.
Freehold. Subject to tenancy.
Auction Details
The sale of this property will take place on the stated date by way of Live streamed auction and is being sold under the Unconditional sale type.
Binding contracts will be exchanged at the point of sale.
All sales are subject to our Common Auction Conditions and Bidder Terms. Properties located in Scotland and Northern Ireland will be subject to applicable local laws.
Auction Deposit and Fees
The following deposits and non- refundable auctioneers fees apply:
• 10% deposit (subject to a minimum of £5,000)
• Buyer’s Fee of 1.2% of the purchase price (subject to a minimum of £1,500 inc. VAT)
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 our auction processes, please refer to the Bidder Terms which can be viewed on our home page.
This explains the types of auction and sale methods we offer, the bidding 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.
