69, 69A & 71 Mansfield Road, Nottingham, NG1 3FN
£500,000+
Mixed Use
17
Key Features
- A rare opportunity to acquire an extensive freehold mixed use city centre property comprising two retail units and 17 bedsits.
- Let on an FRI lease at a rent of £35,300 pa (the shops and bedsits are sub-let by the tenant)
- A long term strategic and highly reversionary investment opportunity
Part of the
22 February 2024
auction
The Nottingham Racecourse
at
2.30PM
A rare opportunity to acquire an extensive freehold mixed use city centre property comprising two retail units and 17 bedsits.
- Freehold mixed use city centre property
- Fronting the busy A60 Mansfield Road
- A short walk into the heart of the City Centre
- Close to Victoria Centre and Trinity Square Complex
- Excellent transport links along Mansfield Road
- Grade II Listed building
- Comprising two self contained ground floor shops
- Central staircase to 3 blocks of bedsits above/to rear
- Block A (9 bedsits) - communal kitchen
- Block B (6 bedsits) - communal kitchen
- Block C (2 bedsits) - small courtyard to rear
- Each bedsit is en-suite with central heating
- Two self contained shops, over ground and basement
- Let on an FRI lease at a rent of £35,300 pa
- 3 yearly rent reviews (next on 4th April 2024)
- The shops and bedsits are sub-let by the tenant
- A long term strategic investment opportunity
- Highly reversionary
Strictly by appointment only, 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 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 the existing FRI lease for a term of 25 years from November 2007 producing an income of £35,300 per annum (refer to Legal Pack)
Refer to Legal Pack