22 Albert Street & Flats 1-3 Mercia House, Mansfield, NG18 1EB
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£250,000+
Investment
4
Key Features
- Town Centre mixed use investment property (1 shop & 3 x flats)
- Fully let with a current rent reserved of £31,320 pa
- A high yielding investment opportunity
Part of the
15 August 2024
auction
Trent Bridge Cricket Ground
at
2.30PM
An opportunity to acquire a freehold commercial investment property comprising a ground floor retail unit (let) with three x self contained flats above within Mercia House. Fully let with a current rent reserved of £31,320 pa.
- Freehold mixed commercial & residential investment property
- Located in the heart of Mansfield town centre
- Situated in a prominent position fronting Albert Street
- Close to St Peter's Retail Park
- Nearby occupiers: Greggs, Costa, Next, Boots, Travelodge etc
- Walking distance to Mansfield Train Station & Bus Station
- In proximity to the A60, A38 & the A6191
- GF retail unit let at £10,500 pa (convenience store)
- Floor area of ground floor: 764 sq ft
- Self contained upper floors of Mercia House (3 flats)
- Comprising 2 x 1 bed flats and 1 x 2 bed flat
- Fully let with a current rent reserved of £31,320 pa
- An ideal opportunity for investors
Contact Auction Estates on 0115 7844 600
Fees
A buyer's premium of £1,800 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, Auction Estates, and Vendors Solicitors 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 auction. Prospective Purchasers are advised to check with the auctioneers, Auction Estates, before the sale that the property is neither sold or withdrawn. The Purchaser will also be deemed to have read and understood the auction conduct notes printed within the sale catalogue.
Whilst Auction Estates make every effort to ensure the safety and security of viewers at properties, we have not carried out a detailed Health & Safety inspection of the properties in our auction and cannot therefore guarantee the safety and security of viewers. Prospective purchasers and bidders attend properties entirely at their own risk. Particular care should be taken when accessing cellars, attics, exterior grounds, outbuildings and boundaries. All non-conducted inspections of vacant sites should be made in daylight hours only and entry to such sites is entirely at the viewers' risk.
Freehold, subject to the existing leases (refer to legal pack) Convenience Store let on a new 5 year lease at £10,500 pa Flat 1 (1 bed) let at £6,900 pa Flat 2 (2 bed) let at £6,600 pa Flat 3 (1 bed) let at £7,320 pa
Refer to Legal Pack