Property Auctions London, Property Auctioneers London, London Property Auctions, Property Auctions London

Lot 4

Freehold Commercial Investment – Gross Yield 12.9%
6 week completion

Situation

Located close to the junction with Market Street within this retail throughfare and amongst such multiples as Ladbrokes, Barnardo's and William Hill along with a host of local traders.
Staveley is located approx. 4 miles north-east of Chesterfield town centre with easy access to the M1 (Junction 30) via the A619 Chesterfield Road.

Property

A mid terraced building comprising a Single Storey Retail Unit.

Accommodation¹

Single Storey Retail Unit
Gross Frontage	43'3''
Area	Approx. 2,426 sq ft

¹Areas taken from VOA.

VAT is applicable to this Lot

FREEHOLD

Tenancy

The entire property is let on a full repairing and insuring lease to St Vincent's De Paul Society (Registered Charity having approx. 50 branches - visit: www.svp.org.uk) for a term of 10 years from 1st April 2023 (in occupation for over 20 years) at a current rent of £23,800 per annum exclusive.

Rent Review and Tenant's Break 2028

Planning

Planning Permission was granted on 15th December 2017 (now lapsed) by Chesterfield Borough Council for ‘First floor extension to provide 3 flats'. Ref: CHE/17/00340/FUL.
The proposed plans show each flat to comprise 2 Bedrooms, Living Room/Kitchen, Bathroom/WC.

Click here to view the Planning Documentation.

*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.

24C/24D High Street, Staveley, Chesterfield, Derbyshire S43 3UX