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NEXT AUCTION - THURSDAY 18TH AUGUST 2.30PM - Click here to view

Lot - 81-85 Upper Parliament Street, Nottingham, NG1 6LD Auction Lot £300,000-£350,000 - Auction Estates

Next Auction

The Nottingham Racecourse


18 August 2022

81-85 Upper Parliament Street, Nottingham, NG1 6LD

Guide Price: £300,000-£350,000


Sold
£496,000

Key Features

  • Substantial freehold commercial opportunity
  • Boasting 6,985 sq ft of space over 5 floors
  • Currently let on a 6 year FRI Lease to Jan 2025 at a rent of £30,000 pa
Draft Details Only

Freehold city centre commercial investment property let to The Private Shop at a rent of £30,000 per annum on an FRI Lease opposite the Alea Casino on the main bus route

• Located in the heart of Nottingham City Centre
• A short walk from Royal Centre Tram Stop
• Adjacent to the entrance of the West End Arcade
• Basement - 1,552 sq ft
• Lower ground floor - 643 sq ft
• Ground floor shop - 1,445 sq ft
• Mezzanine - 763 sq ft
• First floor - 1,808 sq ft
• Second floor - 774 sq ft
• Total floor area - 6,985 sq ft (VOA)
• Tenancy from 2019 - 2025
• Full FRI Lease at a rent of £30,000 pa
• Opportunity to re-negotiate lease & utilise vacant space
• May suit residential conversion STP
• Suitable for a wide variety of uses STP
• ideal city centre investment opportunity

VAT

Interested parties should refer to the Special Conditions of Sale for confirmation of whether VAT is applicable to the sale price.

Viewings

Contact Auction Estates on (0115) 7844600

Important Notices

Fees

A buyer's premium of £1,440 inc VAT (£720 inc VAT if the sale price is less than £10,000) is applicable to each lot purchased.

The Seller may charge additional fees payable upon completion. If applicable, such fees are detailed within the Special Conditions of sale. Buyers are deemed to bid in full knowledge of this.

Guide Prices and Reserve Prices

Each property sold is subject to a Reserve Price. The Reserve Price, which is agreed between the seller and the auctioneer just prior to the auction, would ordinarily 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. Both the Guide Price and the Reserve Price can be subject to change up to and including the day of the auction.

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.

Freehold, subject to a 6 year FRI Lease of the whole to January 2025 at a rent of £30,000 pa

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