Victoria Square, Worksop, Nottinghamshire, S80 1DX
- SIZE
5,000 sq ft
465 sq m
- TENUREDescribes how you own a property. There are different types of tenure - freehold, leasehold, and commonhold.Read more about tenure in our glossary page.
Freehold
Key features
- Freehold Investment
- Let at £79,030 per annum
- 4-5 Shops
- 6 Self Contained Flats
- Advertising Boarding
- In Excess Of 10% Yield
- Situated in a high-demand area
- Yield: Over 10%
Description
We are pleased to offer to auction this exceptional freehold investment opportunity with a rental potential of £79030per annum with a yield in excess 10%.
This mixed-use site offers a diverse and profitable investment, comprising: Five retail units, six self-contained flats, advertising hoarding and a shared car park
Situated in a bustling commercial parade within a residential area, the property features over 5,000 sq. ft. of accommodation with a prominent 95-foot frontage.
Please note we have not inspected this property.
Location
Victoria Square is a central spot in Worksop, Nottinghamshire. It is surrounded by shops, restaurants, and services, making it a busy area for locals and visitors. The square is also home to events and markets, and it features historic buildings and green spaces. Well-connected by transport, it is an important part of Worksop with easy access to nearby areas.
Rental Overview
Ground Floor – Retail Units
Moo Lab (Unit 5) – £833 pcm - Annual £10,000
Unit 7-9 – £400 pcm - Annual £4,800
Best Mini Mart (Unit 11) – £650 pcm - Annual £7,800
Fone and Smoke (Unit 13) – £650 pcm - Annual £7,800
Total Commercial Income: £30,400 per annum
Billboard £3750
Upper Floors – Residential Flats
All six flats are large, self-contained, and fully let under assured shorthold tenancies:
Flat 5A – £700 pcm (3-bedroom) - Annual £8,400
Flat 7A – £750 pcm (3-bedroom) - Annual £9,000
Flat 9A – £750 pcm (4-bedroom) - Annual £9,000
Flat 11A – £600 pcm (3-bedroom) - Annual £7,200
Flat 13A – £440 pcm (1-bedroom) - Annual £5,280
Flat 13B – £500 pcm (1-bedroom) - Annual £6,000
Total Residential Income: £44,880 per annum
Advertising Hoarding
Positioned on the left-hand gable wall
Rental Income: £3,750 per annum
Tenure
4x freehold titles. Title numbers NT445160, NT325812, NT409218 & NT363557.
Rateable Value
The current rateables are as follows (1 April 2023 to present):
5 - £8,100
7-9 - £10,500
11 - £6,100
13 - £8,900
Council Tax
All flats band A.
EPC
All available upon request.
5 - Rating D
7-9 - Rating C
11 - Rating E
13 - Rating C
5a - Rating D
7a- Rating C
9a - Rating E
11a - Rating E
13a - Rating D
13b - Rating C
Additional Information
For further information please contact our office direct on , or alternatively via e-mail on . With regards to viewing the subject property, this is to be done strictly by appointment through Keith Pattinson Commercial department. Please contact us to arrange an internal inspection, or to register your interest.
Auctioneers Additional Comments
Pattinson Auction are working in Partnership with the marketing agent on this online auction sale and are referred to below as 'The Auctioneer'.
Please be aware that any inquiry, bid or viewing of the subject property will require your details to be shared between both the marketing agent and The Auctioneer in order that all matters can be dealt with effectively.
This auction lot is being sold either by, conditional (Modern) or unconditional (Traditional) auction terms and overseen by the auctioneer in partnership with the marketing agent.
The property is available to be viewed strictly by appointment only via the Marketing Agent or The Auctioneer. Bids can be made via The Auctioneers or the Marketing Agents website.
Auctioneers Additional Comments
Your details may be shared with additional service providers via the marketing agent and/or The Auctioneer.
A Legal Pack associated with this particular property is available to view upon request and contains details relevant to the legal documentation enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers' obligations and sellers' commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.
In order to submit a bid upon any property being marketed by The Auctioneer, all bidders/buyers will be required to adhere to a verification and identity process in accordance with Anti Money Laundering procedures.
Auctioneers Additional Comments
In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit of 5% of the purchase price of the lot subject to any special conditions detailed in the legal pack. The deposit will be a contribution to the purchase price. A non-refundable reservation fee may also be payable upon agreement of sale (Details of which can be obtained from the auctioneers website). The Reservation Fee is in addition to the agreed purchase price and consideration should be made by the purchaser in relation to any Stamp Duty Land Tax liability associated with overall purchase costs.
Both the Marketing Agent and The Auctioneer may believe it necessary or beneficial to the customer to pass your details to third party service suppliers, from which a referral fee may be obtained. There is no requirement or indeed obligation to use these recommended suppliers or services.
Brochures
Brochure- COUNCIL TAXA payment made to your local authority in order to pay for local services like schools, libraries, and refuse collection. The amount you pay depends on the value of the property.Read more about council Tax in our glossary page.
- Ask agent
- PARKINGDetails of how and where vehicles can be parked, and any associated costs.Read more about parking in our glossary page.
- Allocated
- GARDENA property has access to an outdoor space, which could be private or shared.
- Ask agent
- ACCESSIBILITYHow a property has been adapted to meet the needs of vulnerable or disabled individuals.Read more about accessibility in our glossary page.
- Ask agent
Energy performance certificate - ask agent
Victoria Square, Worksop, Nottinghamshire, S80 1DX
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Visit our security centre to find out moreDisclaimer - Property reference 449955. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Pattinsons, Pattinsons Auction- National Auctioneer. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.
Auction Fees: The purchase of this property may include associated fees not listed here, as it is to be sold via auction. To find out more about the fees associated with this property please call Pattinsons, Pattinsons Auction- National Auctioneer on 0191 625 0964.
*Guide Price: An indication of a seller's minimum expectation at auction and given as a “Guide Price” or a range of “Guide Prices”. This is not necessarily the figure a property will sell for and is subject to change prior to the auction.
Reserve Price: Each auction property will be subject to a “Reserve Price” below which the property cannot be sold at auction. Normally the “Reserve Price” will be set within the range of “Guide Prices” or no more than 10% above a single “Guide Price.”
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