Commercial Property for auction in Derby

Description

***COMMERCIAL INVESTMENT OPPORTUNITY***

High Street self contained retail unit. Neighbouring unit available. Benefits from its own kitchen, WC and separate electric and water meters. Currently fitted as a barbers but suitable for a range of retail high street or professional uses.

The property is situated off Nottingham Road within the centre of Borrowash. The shops for sale are adjoining Victoria Avenue, where nearby occupiers include; a Co-Op, BJ Wilson Chemists, and Birds the Bakers.

Accommodation

Unit Number 25
276 sq.ft. (25.64 sq.m.)

Service Charge
Is payable to the head landlord for the running, maintenance and up keep of the building structure and roof.

The current service charge budget is £31 per month.

VAT
Unit 25 is NOT registered for VAT.

Tenure
Investment for sale by virtual freehold with vacant possession.

No.25 is held by way of a 999 year lease from October 2009.

The ground rent is £1 per annum per unit. These leases permit use as retail, office or financial and professional services.

Tenure

Leasehold

Planning

We believe the property has been used under Class E Commercial, Business and Service of the Town and Country Planning (Use Classes) Order 1987 (as amended) but may be
subject to a range of professional uses STP. All parties should confirm the planning position with the relevant Local Authority.

Occupancy

Vacant posession upon completion

Costs

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.

General

Note
Please be advised that whilst our joint agent has conducted an inspection, the auctioneers have not personally inspected the property. Prospective buyers are advised to make a viewing enquiry and any other necessary independent enquiries before placing their bid, as this will be binding.

Draft Sales Particulars
These sales details are awaiting vendor approval