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Lot 25 Click here for addendum

Freehold Commercial Investment – Gross Yield 12.3%
In same ownership for 36 years
6 week completion

SITUATION

In the heart of the City Centre, close to the junction with London Road and the entrance to the Derbion Shopping Centre, adjacent to Puregym and nearby other multiples such as Ladbrokes, Tui, Waterstones, Bonmarché and a variety of independent retailers.
Derby is a major commercial centre located approximately 14 miles west of Nottingham and benefits from excellent road links via the M1 (Junction 25) and the A52.

PROPERTY

A mid terrace building comprising a Ground Floor Shop with internal access to Ancillary Accommodation on first and second floors.

VAT is NOT applicable to this Lot

FREEHOLD

ACCOMMODATION

Ground Floor Shop
Gross Frontage 13'0"
Internal Width 10'9"
widening to 11'4"
Shop Depth 45'3"
Built Depth 54'3"
WC
First Floor Ancillary
2 Rooms
Area Approx. 512 sq ft
Second Floor Ancillary
2 Rooms & Shower/WC (not in use)
Area Approx. 287 sq ft

TENANCY

The entire property is let on a full repairing and insuring lease to K. Abdali t/a The Brothers Turkish Barber for a term of 20 years from 9th November 2016 at a current rent of £18,500 per annum exclusive.

Rent Reviews 2024 and 2031

Note 1: The tenant did not operate his 2019 Break Clause.

Note 2: There is a £4,000 Rent Deposit held.

Note 3: The adjoining property (No. 111) is also being offered for sale in this auction - see lot 24.

Enquire about this lot:

JOINT AUCTIONEER:
Bulleys Chartered Surveyors
Tel: 01902 713 333 Ref: Ian Appleby
ian.appleby@bulleys.co.uk

*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.

113 St. Peters Street, Derby, Derbyshire DE1 2AD