Next auction Thursday 25th April 2.30PM

The Mechanics Arms, 373 Alfred Street North, Nottingham, NG3 1AA



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Guide price

£190,000 +


Property Type

Commercial


Key Features

  • Established City Centre Public House
  • Part let to pub at £13,000 pax with potential to let upper floors
  • Potential to obtain Vacant Possession or increase income by letting off the upper floors
  • Suitable for conversion or redevelopment (STP)
  • Gross Floor Area approx 5,000 sq ft
  • City centre location off Huntingdon Street and Mansfield Road (A60)
  • Situated to the rear of a new residential development scheme
  • A short distance from the Victoria Shopping Centre and Bus Station

Part of the 13 December 2016 auction
Nottingham Racecourse at 2.30PM

Freehold City Centre Public House. Potential conversion or redevelopment opportunity (STP)

  • Freehold City Centre Public House. Potential conversion or redevelopment opportunity (STP). * Located at the corner of Alfred Street and St. Ann's Way * Close to Huntingdon Street and Mansfield Road (A60) * Situated to the rear of a new residential development scheme * Comprising an established detached Public House over three floors * The first and second floors include up to 9 potential letting rooms * External courtyard to the rear * A recent ACV listing failed the Section 88(1) test (Ref: 16/00824/ASCMVL)

Contact Paul Giles on (0115) 78 44 600

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 with the ability to obtain vacant possession or to retain the existing tenancy of the ground floor pub and part of the first floor at £13,000 pax. Additional income could be obtained from letting the remaining first and second floors.

E

Email: l.pettitt@rotheras.co.uk
Telephone: 0115 8525814

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