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Lot - 390/392 Radford Road, Nottingham, NG7 5GR Auction Lot £135,000+ - Auction Estates

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Nottingham Racecourse


27 February 2020

390/392 Radford Road, Nottingham, NG7 5GR

Guide Price: £135,000+


Sold
£222,500

Key Features

  • Freehold investment property comprising 2 shops and 2 x 2 bed flats
  • Fully let and producing £14,540 pax with scope to increase
  • Prominent position on Radford Road with roadside parking (metered)
Draft Details Only

Freehold investment property comprising two shops and two self contained 2 bedroom flats above, fully let and producing £14,540 pax with scope to increase/improve.

• Substantial freehold mixed retail & residential investment
• Prominent position with roadside parking
• A short distance from the retail centre of Hyson Green
• Two shops at ground floor (Barbers & African food store)
• Barbers includes basement storage space
• Side passage giving access to the rear yard/flat entrances
• Two x 2 bed flats, each over first and second floors
• Flats would benefit from refurbishment
• Red line for illustration purposes only

VAT

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

Viewings

FINAL viewing date: Tuesday 3rd December at 10.30am

Important Notices

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Prospective purchasers are advised to check with the auctioneers before the sale that the property is neither sold nor withdrawn.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 occupational tenancies. The ground floor shops are let on a single lease (holding over) at a rent of £5,000 pa. The two flats are let on periodic tenancies at £375 pcm (390a) & £420 pcm (392a). The combined annual rental income from the tenancies reported is £14,540 pax.

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