Units 1 & 2, 55 West Gate, Mansfield, Nottinghamshire, NG18 1RU
£300,000+
Investment
Key Features
- A pair of high yielding retail investment properties in the heart of Mansfield Town Centre
- Total Current Rents Reserved of £46,800 pax (net of headlease rent £39,312 pa)
- Close to Greggs, Starbucks, M&S, EE, Boots & entrance to Rosemary Shopping Centre
Part of the
19 June 2025
auction
Trent Bridge Cricket Ground
at
2.30PM
An opportunity to acquire a pair of two-storey retail investment properties in the heart of Mansfield town centre, Total Current Rents Reserved of £46,800 pax (net of headlease rent £39,312 pa)
- Prime town centre pedestrianised retail area
- West Gate is a high footfall pedesrtianised street
- Close to St Peter's Retail Park & Four Seasons Shopping Centre
- Nearby occupiers: Greggs, Starbucks, M&S, EE, Boots etc
- A short walk from Mansfield Train Station & Bus Station
- Near to multiple pay-and-display car parks
- Let to Specsavers and an Independent retailer
- Unit 1 - Let on a FRI lease to Specsavers at £24,600 pa
- Measures approximately 3,154 sq ft
- Unit 2 - Let to Independent Retailer on a FRI lease at £22,200 pa
- Measures approximately 3,272 sq ft
- Total Current Rent Reserved of £46,800 pax
- Both units extend to a combined size of 6,426 sq ft
- Each unit benefits from display frontage onto West Gate
- A high-yielding investment opportunity
Contact Auction Estates on 0115 7844600
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.
Offered For Sale on a Headlease from Mansfield District Council for a term expiring 2101 (75 years remaining), subject to the existing tenancies: Unit 1 - Let to Specsavers Optical Superstores Ltd on a lease expiring 25th March 2030 at £24,600 pa Unit 2 - Let to Independent Retailers on a lease expiring 18th July 2027at £22,200 pa Total Current Rent Reserved of £46,800 pa. Net rent after 16% headlease rent of £39,312 pa
Refer to Legal Pack