King Street, BELPER

SUMMARY
GUIDE PRICE £325,000 -

¦ Corner investment property in the heart of Market Town Belper
¦ Five letting units bringing in £46,150 Per annum
¦ VAT elected for the shops


DESCRIPTION
Guide Price: £325,000 - £375,000

AVAILABLE POST AUCTION. CONTACT: Bagshaws Residential Derby, 32 – 34 Cornmarket, Derby, DE1 2DG option 3)

DOWNLOAD LEGAL DOCUMENTS FROM BARNARD MARCUS AUCTIONS WEBSITE

Description
An opportunity has arisen to acquire this unusual and attractive corner commercial investment property. The property is set over three floors in the heart of the historic town of Belper and is situated on the corner of King Street and Strutt Street and extends to over 320 sq. m subject to measured survey. Belper has a good range of local shops as well as supermarkets, eateries, schooling and leisure entertainment. Located North of Derby, Belper is accessed by the A6 and has its own bus stations as well as a railway station providing links to London St Pancras. The property brings in a great income from the five letting units comprising of two ground floor retail units, two first floor offices and a second floor office at £46,150 per annum (the offices income includes water, heat, electricity costs). Planning application for the first and second floor to convert into three apartments was granted on 12/07/2007 now expired.
Please also note that two of the rental licenses have now expired.

Accommodation
Ground floor: Retail unit 1 and retail unit 2, rear yard to upper floors.
First Floor: Landing, communal kitchen, two W/Cs, Suite 101, Suite 102, stairs to second floor.
Second floor: Suite 201.
Please note this property sale is subject to VAT

Tenure
Unit 1 five year lease from 1st February 2022 to 31st January 2028 at £15,000
Unit 2 three year lease from 1st February 2022 to 31st January 2028 at £15,250
Office 101 annual Licence expires the 31st November 2023 at £600 pcm
Office 102 annual Licence from the 17th July 2017 at £400 pcm
Office 201 annual Licence expires 31st December 2023 at £325 pcm

EPC: D - 320 sq m

Tenure:
Freehold

Viewings:
By arrangement with the auctioneer: Bagshaws Residential, 32-34 Cornmarket Derby DE1 2DG.
Tel: option 3 Email:

FOR SALE VIA BAGSHAWS RESIDENTIAL AUCTIONS IN ASSOCIATION WITH BARNARD MARCUS AUCTIONS ON TUESDAY 19TH DECEMBER 2023 AT 9.30AM AT THE DE VERE GRAND CONNAUGHT ROOMS, 61-65 GREAT QUEEN STREET, COVENT GARDENS, LONDON WC2B 5DA. YOU CAN ALSO REGISTER FOR ONLINE BIDDING.

CONDITIONS OF SALE
The Conditions of Sale will be deposited at the offices of the auctioneers, Bagshaws Residential, and vendors solicitors 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 auctions. Prospective purchasers are advised to check with the auctioneers, Bagshaws Residential, 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.
Health & Safety Advice for Property Viewers Whilst Bagshaws Residential make every effort to ensure the safety and security of viewers at properties, we have not carried out a detailed Health & Safety inspection of the properties in our auction and cannot therefore guarantee the safety and security of viewers Prospective purchasers and bidders attend properties entirely at their own risk. Particular care should be taken when accessing cellars, attics, exterior grounds, outbuildings and boundaries. All non-conducted inspections of vacant sites should be made in daylight hours only and entry into such sites is entirely at the viewers’ risk
*Guide and Reserve Prices
Guide Price: An indication of the seller's current minimum acceptable price at auction. The guide price or range of guide prices is given to assist consumers in deciding whether or not to pursue a purchase. It is usual, but not always the case that a provisional reserve range is agreed between the seller and the auctioneer at the start of marketing. As the reserve is not fixed at this stage and can be adjusted by the seller at any time up to the day of the auction in the light of interest shown during the marketing period, a guide price is issued. This guide price can be shown in the form of a minimum and maximum price range within which an acceptable sale price (reserve) would fall, or as a single price figure within 10% of which the minimum acceptable price (reserve) would fall. A guide price is different to a reserve price (see separate definition). Both the guide price and the reserve price can be subject to change up to and including the day of the auction.

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 credit card deposits. The sale of each lot is subject to a contract documentation charge £1,500.00 (including VAT) payable on the fall of the hammer. If you are unable to attend the auction for any reason you can still bid on the property either by telephone or proxy bid, please contact the auctioneers for further information.
Guidance notes are set out in the catalogue in relation to auction property, particularly from a purchasing perspective.



1. MONEY LAUNDERING REGULATIONS: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
2. General: While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.
3. Photographs and Measurements: Some images may have been taken by a wide angled lens camera. These approximate room sizes are only intended as general guidance. You must verify the dimensions carefully before ordering carpets or any built-in furniture.
4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.
5. THESE PARTICULARS ARE ISSUED IN GOOD FAITH BUT DO NOT CONSTITUTE REPRESENTATIONS OF FACT OR FORM PART OF ANY OFFER OR CONTRACT. THE MATTERS REFERRED TO IN THESE PARTICULARS SHOULD BE INDEPENDENTLY VERIFIED BY PROSPECTIVE BUYERS OR TENANTS. NEITHER SEQUENCE (UK) LIMITED NOR ANY OF ITS EMPLOYEES OR AGENTS HAS ANY AUTHORITY TO MAKE OR GIVE ANY REPRESENTATION OR WARRANTY WHATEVER IN RELATION TO THIS PROPERTY.