Three storey retail unit with full planning permission to convert the upper two floors into four apartments
Property Description DRAFT DETAILS Superb opportunity to acquire a three storey retail unit, situated within the heart of the thriving Long Eaton town centre which offers an excellent range of amenities, ideally situated close to the A52 and M1 motorway and having easy access to Derby and Nottingham. The property has the benefit of full Planning Permission to convert the two upper floors into 3 x 1 bedroom apartments and 1 x 2 bedroomed apartment. Ideal investment opportunity. We are led to believe that the property may generate a gross annual income circa £39,000 gross when fully let. Planning permission was granted by Erewash Borough Council on 20th September 2018 under Reference: ERE/0718/0055 for change of use of the 2nd and 3rd floors from storage space above an existing retail unit to residential apartments (class C3 usage) and external alterations. We have been informed by the vendor that two flats have been planned on permitted development and two via the normal planning route, giving four flats in total. The accommodation currently briefly comprises:
Ground Floor Downstairs Retail Unit 50ft 4 x 12ft 1
Rear Store Room 12ft 2 x 8ft 1
First Floor: Landing Open Plan Room 37ft 4 x 13ft 4
Further Room 12ft 8 x 12ft 4
Separate WC Third Floor: The auctioneers did not gain access to this floor.
Tenure Freehold. Vacant possession upon completion.
8, Market Place, Nottingham, NG10 1LS
Three storey retail unit
Type: General Retail, Retail, Flat, Mixed Use, Residential, Other Property Types & Opportunities
8 Market Place, NG10 1LSGBNottinghamDerbyshireNG10 1LS8, Market Place
A self-contained two bedroomed flat requiring upgrading and improvement in converted building located on the Nottingham Road.
Property Description DRAFT DETAILS - AWAITING VENDOR APPROVAL The flat is located in a converted property in the heart of Ripley town centre and is close to an array of shops including Sainsburys Supermarket. Access can be gained to the A38 which links Derby, Alfreton and the M1 Motorway. The auctioneers have not inspected the property but believe it to comprise –
Hall Lounge Kitchen Two Bedrooms Bathroom
Tenure Leasehold. Vacant possession upon completion.
Viewings Details Viewings can be booked online (under the Lot Information section on this page) or by contacting the auctioneers on 01332 242880.
Conditions of Sale The Conditions of Sale will be deposited at the offices of the auctioneers and vendors solicitors/licensed conveyancers prior to the auction 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 the auction. 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.
A 10% deposit is payable on the fall of the gavel, subject to a minimum of £5,000.
*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, will 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. For a full definition of the Guide Price and the Reserve Price click here.
Energy Performance Certificates EPCs can be viewed in full in the lot information section at the top of this page or in the legal pack.
Note Prospective purchasers will need to register within the auction room before the sale commences. Two items of identity will be required together with an indication of how a contractual deposit will be paid. We do not take cash or cheque deposits. Remote bidding facilities are also available.
Auction Fees The sale of each lot is subject to a buyer’s fee of £1,074 inc VAT (£895 + VAT) (unless otherwise stated in the important notices), payable on the fall of the hammer.
The purchase of this property may include associated fees not listed here. Any additional fees will be confirmed in the legal pack which can be downloaded from our website from the lot information section above. Or to find out more about any additional fees associated with this property please contact the auction office.