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Lot 4

6 Week Completion

Situation

Located in this established retail parade close to the junction with Arnesby Road on this major arterial route into the city centre and opposite the University of Nottingham's Jubilee Campus (see photo).
Nearby retailers include Subway as well as a host of local traders all serving the surrounding residential area.
Nottingham is a popular city that lies approx. 13 miles east of Derby and approx. 24 miles north of Leicester.

Property

An end of terrace building comprising a Ground Floor Shop (Former Bank with A2 Use) with internal access to Ancillary Office/Store on the first floor.

Accommodation

Ground Floor Shop
Gross Frontage 18'3”
Internal Width 17'5”
Shop Depth 33'8”
Built Depth 40'8”
First Floor Ancillary
Area Approx. 200 sq ft
2 WCs

VAT is NOT applicable to this Lot

Tenure
Leasehold for a term of 2,000 years from 25th December 1985 at a peppercorn ground rent.

Offered with vacant possession

Note: The Vendor has received an offer from a charity to rent the property for a term of 10 years at an initial rent of £12,000 p.a. with a 3 month rent free period, rising to £15,000 p.a. in years 2 to 5. The lease would be subject to a rent review and tenant's break at the end of the fifth year.

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
b. A single price figure where the 'Reserve' is not to exceed it.
c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,500 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.

Unit 6, 357 Derby Road, Nottingham, Nottinghamshire NG7 2DZ