Where is the Investment located?
Sandiacre is a popular town in the Erewash district of Derbyshire, approximately 5.5 miles to the east of Nottingham and 9.5 miles west of Derby.
The property occupies a prominent position at the bridge on Station Road (the B5010). It is at the end terrace of a parade of shops comprising a range of local retailers, restaurants and hot food takeaways. Nearby occupiers include Lidl, Burger King and the highly regarded La Rock Restaurant. Station Road connects with J25 of the M1 Motorway just 1.5 miles to the west and with Stapleford immediately to the east.
South of the premises (after the A52) lies the proposed location for the HS2 East Midlands Hub (Toton). HS2.org.uk states the East Midlands hub station at Toton will be one the best served stations on the high speed network. We understand Phase II of the line connecting with Manchester has been suspended, should that proceed we understood the property could have been subject to a CPO. Buyers should confirm the position in respect of the new station.
For sale by SDL Auction 20th December 2022
Prominently located, mixed use investment comprising superbly presented shop and separate, well presented two bed living accommodation.
This semi-detached property comprises a vacant, ground floor shop providing front sales with rear office (fitted with a sink) and lower ground floor storage. Following an electrical fire in 2019 the shop has been fully refurbished through insurance. There is a single WC, this is located in the rear courtyard where access to the separate upper floor living is provided. The living accommodation is self-contained and provides a kitchen on the ground floor, sitting room, bathroom and bedroom on the first floor with a master bedroom on the second floor. Again the living accommodation is well presented. The property is fully UPVC double glazed and the apartment benefits from Central Heating.
Externally the property enjoys a high street location with street parking immediately outside.
How has the accommodation been measured?
The accommodation has been measured on a Net Internal Area (NIA) in accordance with the RICS Code of Measuring practice.
|Two bed living accommodation
We believe the property has been used under Classes E (Commercial, Business and Service) and C3 (Residential) of the Town and Country Planning (Use Classes) Order 1987 (as amended). All parties should confirm the planning position with the relevant Local Authority.
We are advised all mains services are connected to the property. The shops has a separately metered mains electric supply. The apartment has separately metered mains gas and electric supplies. The tenants are directly responsible for the costs of utilities.
What is the Ratable Value?
The property is currently listed as a shop and premises on VOA.gov.uk.
Please check the valuation office website for any rates incentives. Subject to status you may qualify for 100% rates relief. The assessment from April 2023 shall be £3,000.
How is the accommodation offered?
The premises is being sold freehold and subject to the existing tenancies as follows: Shop: with vacant possession. First floor flat: Let by way of an AST for £515 pcm.
Site for sale with joint auctioneers www.sdlauctions.co.uk the Auction date being 20th December 2022. Interested parties must register with SDL to bid.
The sale of this property will take place on the stated date by way of Auction Event and is being sold as Unconditional with Fixed Fee (England and Wales).
Binding contracts of sale will be exchanged at the point of sale.
All sales are subject to SDL Property Auctions' Buyers Terms.
Auction Deposit and Fees
The following deposits and non- refundable auctioneer's fee apply:
- 10% deposit (subject to a minimum of £5,000)
- Buyer's Fee of £1,074 inc. VAT
The Buyer's Fee does not contribute to the purchase price and will be considered as part of the chargeable consideration for the property in the calculation of stamp duty liability.
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.
For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions' home page.
This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack.
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.
£110,000 Guide price. Please check the VAT status.
All figures are quoted exclusive of VAT, we are advised the property is not registered for VAT.
The shop has an energy rating of D(92)
The flat has an energy rating of D(57).
What are the viewing arrangements?
Please check our website for a virtual tour. Physical viewings with proceedable parties can be arranged on request by contacting our commercial property agents. OMEETO do not take any responsibility for any loss or injury caused whilst carrying out a site visit.
An auction pack will be available to download from www.sdlauctions.co.uk.