Next auction Thursday 20th February 2.30PM

15-17 King Street, Nottingham, NG1 2AY



Sold
£782,500
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£782,500
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£782,500
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£782,500
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£782,500
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£782,500
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£782,500
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£782,500
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£782,500
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£782,500
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£782,500
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£782,500
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£782,500
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£782,500
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£782,500
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£782,500
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£782,500
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£782,500
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£782,500
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£782,500
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£782,500
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£782,500
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£782,500
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£782,500
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£782,500
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£782,500
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£782,500
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£782,500
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£782,500
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£782,500
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£782,500
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£782,500
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£782,500
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£782,500
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£782,500
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£782,500
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£782,500
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£782,500
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£782,500
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£782,500
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£782,500
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£782,500
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£782,500
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£782,500
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£782,500
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£782,500
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£782,500
Guide price

£700,000 to £750,000


Property Type

Investment


Key Features

  • Rare opportunity to acquire a prime freehold four storey City Centre commercial property part let at a rent of £53,200 pa
  • A stunning property spread over four floors and measuring circa 5,383 sq ft in the heart of Nottingham City Centre
  • Ideal for investors and developers with scope for development (STP)

Part of the 23 February 2023 auction
The Nottingham Racecourse at 2.30PM

Rare opportunity to acquire a prime freehold four storey commercial property off the Old Market Square and adjacent to the Alchemist Bar in the heart of Nottingham City Centre.

  • One of Nottingham's most prestigious buildings
  • Situated on King Street, the heart of Nottingham City Centre
  • Short walk to the Victoria Shopping Centre and Trinity Square
  • Near NET tram stops and Nottingham Train Station
  • Nearby occupiers: Zizzi, Pizza Express, The Alchemist, Gusto
  • Grade II listed building
  • Approximately 5,383 sq ft spread over four floors
  • Basement - 1043 sq ft let at a rent of £5,200 pa
  • Ground floor - 1476 sq ft let at a rent of £48,000 pa
  • First floor office accommodation - 1036 sq ft - Vacant
  • Second floor office accommodation - 990 sq ft - Vacant
  • Third floor office accommodation - 838 sq ft - Vacant
  • Scope for development on upper floors (STP)
  • Asset management opportunity
  • Ideal for investors or developers

Contact Auction Estates on 0115 7844 600

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 existing tenancies. Part Basement & Vaults let until 14th August 2024 at £5,200pa. Ground Floor & Part Basement let for 15 years from 29th September 2022 at a peppercorn rent, rising on 1st March 2023 to £24,000 pa until 28th February 2024 where the rent increases to £48,000 pa

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Telephone: 0115 8765 729

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