Ground Floor Bar, 5-7 Low Street, Sutton in Ashfield, NG17 1DH
£75,000+
Investment
Key Features
- An opportunity to acquire a freehold ground floor investment property let to a bar operator at £10,800 pa
- Located in a prominent position on Low Street in the heart of Sutton-in-Ashfield town centre
- Fixed rent increase in 2027 to £12,000 pa
Part of the
17 October 2024
auction
at
2.30PM
An opportunity to acquire a freehold ground floor investment property let to a bar operator in the heart of Sutton-in-Ashfield. Let on a five year lease until 2029 at a rent of £10,800 pa (fixed rent increase to £12,000 pa in 2027)
- A freehold ground floor bar trading as Shiny Rhino Bar
- Located in a prominent position on Low Street (High Street)
- In the heart of Sutton-in-Ashfield pedestrianised town centre
- Adjacent to the Idlewells Shopping Centre
- Nearby occupiers: Costa, Halifax, Greggs, JD, CeX, ASDA etc
- Walking distance to a variety of local amenities
- A 5 minute drive from A38 & J28 of the M1
- Less than 2 miles from Sutton Parkway Train Station
- Set 12 miles North of Nottingham City Centre
- Set 20 miles South of Sheffield City Centre
- Comprising large trading area, staff kitchen & staff toilets
- Extending to circa 1,188 sq ft (VOA)
- An ideal investment opportunity
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 lease which is for a term of 5 years at a rent of £10,800 pa. The lease is from 18th March 2024 with a fixed increase at year 3 to £12,000 pax
Refer to Legal Pack