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8-9A Friar Gate, Derby, DE1 1BU

Lot no: 36.0 Sold at Auction for £700,000
 

Guide Price £750,000 plus fees


Thursday 10th April 2014

12.00am
Key Features
Large bar/restaurant premises along with adjoining two storey building
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Sold at Auction for £700,000

Commercial

Property Description

DRAFT DETAILS ONLY.

LOCATION

The City of Derby is a major conurbation within the East Midlands and has a resident population in the order of 330,000 inhabitants, and a wide catchment population of some 2.3 million.  The City is home to a number of major employers, including Rolls-Royce plc, Bombardier Transportation, Software AG and Toyota Motor Corporation at nearby Burnaston.

Derby has a vibrant City centre, which was recently granted Purple Flag status by the Association of Town and City Centre Management, in recognition of the City's good mix of venues and giving a welcoming and safe environment.

The subject premises are situated within the heart of the prime restaurant and drinking establishment area, on Friar Gate within the Cathedral Quarter of the City.  Nearby occupiers include Zizzi's, Pitcher and Piano, and The Almanac, together with a number of independent restaurants including Zest, Okra and Marrakech.

8 Friar Gate -

Ground floor retail outlet trading as Friar Gate Alteration (www.friargatealterations.co.uk).

8a-9a Friar Gate -

An amalgamation of buildings which have been converted to a well-appointed and popular bar and restaurant trading as Fat Cats (www.fatcatcafebars.co.uk).

PLANNING

We understand from our enquiries that the majority of the buildings fall within the Friar Gate Conservation Area and numbers 7, 11 & 12 Friar Gate are believed to the Grade II Listed.

We would however recommend that any interested parties undertake their own enquiries with the planning department of Derby City Council.

Tenure

Freehold. Subject to the existing tenancies.

Vendors Solicitors/Licensed Conveyancers

Shacklocks, 25 Chapel Street, Belper, Derbys  DE56 1AR

Viewings

Strictly by arrangement with either of the joint agents –

James Cokayne MRICS

Graham Penny Auctions

2-6 The Strand
Derby    DE1 1BA

Tel :         01332 242880

Fax :        01332 202510

Email :    james@grahampenny.com

Andrew Nichols, BSc MRICS

Gadsby Orridge Commercial

6 Royal Buildings

Victoria Street
Derby   DE1 1ES

Tel :         01332 290390

Fax :        01332 340726

Email :    andrewnichols@gadsbyorridge.co.uk

REF :       GOC0

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 nor 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 £750 (inc VAT) payable on the fall of the hammer.

Feature 1

EXCELLENT INVESTMENT OPPORTUNITY

Feature 2

Large bar/restaurant premises along with adjoining two storey building

Feature 3

Situated within a prime A3 and A4 location within Derby’s Cathedral Quarter

Feature 4

Superb and rare opportunity

Feature 5

Current combined rental income of £81,500 p.a.

Tenure: