Commercial
DRAFT DETAILS ONLY.
Located just inside the ringroad St. Peter's Way close to the town centre but in an area of commercial premises, an opportunity to acquire two adjacent garage workshop premises both well let, with no-break clauses and with one tenant having traded from the site for about 25 years.
In addition, car parking spaces are rented from Network Rail and utilised by the tenants on a reimbursement to landlord basis.
The properties are of brick and steel construction and each has a frontage of approximately 7.5 metres and a depth of 16.25 metres. In addition to a large workshop, each has a small office area, kitchen and wc. Each has a roller shutter security door, three phase electric and mains water and drainage.
NOTE
The auctioneers have not inspected the interior of Mansfield Service Centre but understand it to be very similar to the adjoining ABC Garage.
Leases
ABC Garage is let on a 10 year lease commence 7th June 2006 at a current reserved rent of £8,062.68 per annum.
Mansfield Service Centre is let on a 10 year lease from 11th August 2006 at £8,062.68 per annum.
There are upwards only rent reviews annually. The landlord has confirmed to the present tenants that there will be no increase in the rent due in June and August this year respectively.
In addition there is a tenancy agreement between the vendor and Network Rail for approximately 8 car parking spaces situated at the side of the two workshop garages and to the rear of the Grand Cinema off Leeming Street. current rent of £1,290.81 plus VAT is reimbursed by the tenants of the two premises in equal shares. Network Rail have confirmed that there will be no increase in September 2011.
Vendors Solicitors/Licensed Conveyancers
Milners, 18 Blacker Road, Mapplewell, Barnsley, South Yorkshire S75 6BW
Tenure
Freehold. Subject to leases.
VAT
VAT is not applicable to this sale.
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 Prospective purchasers are advised to check with the auctioneers before the sale that the property is neither sold or withdrawn.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 £495 (inc VAT) payable on the fall of the hammer.
For Sale by Auction: Thursday 26th May 2011
At Pride Park Stadium, Derby
Commencing at 11.30 am
COMMERCIAL INVESTMENT PROPERTY
Two adjoining workshop garages just off Mansfield town centre
Both let on 10 year leases (5 years unexpired)
Current reserved rent £16,124 per annum
