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Lot 22

6 Week completion

SITUATION

Located close to the junction with Harvey Road (A5111), adjacent to
Bargain Booze and Papa Johns as well as other mutliples including Lloyds, Co-op Travel, Heron Foods, Boots, Cancer Research, Subway, NatWest and Greggs and being just over 2 miles south of Derby town centre. Derby is located approx. 13 miles west of Nottingham and benefits from excellent road links via the M1 (Junction 25) and the A52.

PROPERTY

A semi-detached building comprising a Ground Floor Betting Shop (currently being refitted) with separate rear access via a front passageway to a Self-Contained Flat on the first floor.
In addition, there is front lay-bay parking.

ACCOMMODATION

Ground Floor Betting Shop
Gross Frontage 18'5”
Internal Width 15'4”
Shop Depth 50'3”
Built Depth 61'10”
Sales Area Approx 770 sq ft
Ladies & Gents WCs

First Floor Flat
1 Bedroom, 1 Room (no windows), Living Room, Kitchen, Bathroom/WC (GIA Approx. 530 sq ft)

VAT is NOT applicable to this Lot

FREEHOLD

TENANCY

The entire property is let on a full repairing and insuring lease to Done Brothers (Cash Betting) Limited t/a Betfred (having 1,380 branches) (T/O for Y/E 25/09/16 £320.07m, Pre-Tax Profit £29.29m and Shareholders' Funds £35.29m) for a term of 20 years from 6th October 1995 at a current rent of £15,300 per annum exclusive (see Note 1).

Note 1: The tenant is currently holding over and a Section 25 Notice has been served on the Tenant offering a new FRI lease for a term of 10 years from 14th December 2017 at a rental of £22,500 p.a. subject to an upward only rent review at the end of the 5th year.

Note 2:The tenant also trades from the adjoining shop.

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
b. A single price figure where the 'Reserve' is not to exceed it.
c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,500 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.

817 Osmaston Road, Derby, Derbyshire DE24 9BQ