12 - 16 Market Place, Bingham, Nottingham, NG13 8AP
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£750,000+
Mixed Use
7
Key Features
- Freehold mixed use investment opportunity in the heart of Bingham Market Place
- 4 x commercial properties and 7 x residential flats
- Total income of £96,630 per annum
Part of the
10 December 2020
auction
at
2.30PM
Freehold mixed use investment property located in the heart of Bingham Market Place consisting four retail units and seven flats fully let and producing £96,630 pa (£8,052.50 pcm)
- Located on the Market Place in Bingham
- Occupying a prominent corner position
- Attractive 3 storey property to the front
- Return frontage to a 2 storey property at the rear
- 12 - GF unit currently occupied by beauticians to 03.07.25
- 12 - Let at a rent of £14,500 pa
- 13 - GF & FF retail trading as Bingham flooring to 24.03.20
- 13 - let at a rent of £14,250 pa
- 14 - GF retail trading as Raw Fruit & Veg shop to 31.03.21
- 14 - let at a rent of £11,700 pa
- 15/16 - GF café/bistro trading as Number Sixteen to 06.12.27
- 15/16 - Let at a rent of £23,000 pa
- Total reported commercial income - £63,450 pa
- 7 x 1 bedroom self contained flats at first and second floor
- Flats fully let at varying rents totalling £33,180 pa
- Tarmac yard to the rear with private parking
- Access to the flats from the rear
- Ideal mixed use investment opportunity
Please 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 4 x commercial leases totalling £63,450 pa and 7 x residential flat AST's totalling £33,180 pa. Total reported income of £96,630 pa
Email: kwesi.spencer@freeths.co.uk
Telephone: 0115 936 9369