Garage for sale

Garages rear of - Aspley Lane, Nottingham, NG8

Guide Price* £60,000

Property Description

Key features

  • Investment block of ten garages
  • Nine out of ten garages currently let
  • Current gross income 10,800 per annum
  • Lapsed planning permission for an office block
  • EPC Rating: N/A

Full description

This property remains available and open to offers following the auction on Wednesday 18th December 2019.
Please contact the auctioneers on for further details.

Investment block of 10 recently refurbished garages and land. Current gross rental income £10,800 per annum part let.

A block of ten garages located to the rear of Aspley Lane benefitting from new doors and internal refurbishment. The site benefits from lapsed planning permission for the erection of an office block. The Auctioneers have not internally inspected the garages. Interested parties can inspect by contacting the auctioneer.


Location

The garages are situated at the rear of 401-407 Aspley Lane, Nottingham in an area of predominantly residential dwellings. The area benefits from good links to Nottingham city centre and the motorway network.


Tenure

We have not had site of documentation but have been advised by the vendor that the garages are freehold and 9 out of the 10 garages are currently let achieving £100 pcm per garage. Fully let we estimate a gross income of £12,000 at current rent passing. Interested parties are advised to see legal pack for clarification of rental income.


Value Added Tax

We have been informed that VAT will not be chargeable on this transaction. Interested parties are advised to see legal pack for confirmation.


Tenure
Freehold

Viewing Details

Viewings can be booked online at sdlauctions.co.uk/property-auctions/ on the lot details, or by contacting our office.


Legal Pack

The legal pack will be available to download from our website (under the Lot Information section) prior to the auction and the buyer shall be deemed to have knowledge of same whether inspected or not. Any questions relating to the legal pack must be raised prior to the auction. Prospective buyers are advised to check with the auctioneers before the sale that the property is neither sold nor withdrawn.

The buyer will also be deemed to have read and understood the Buyers Terms printed within the sale catalogue and available under the Lot Information section of our website.


*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. A full definition of the Guide Price and the Reserve Price can be found in the Buyers Terms.


Energy Performance Certificates

EPCs can be viewed in full in the legal pack or from the lot information section of our website.


Auction Type: Unconditional with Fixed Fee

Contracts are exchanged on the fall of the hammer and a 10% deposit will be taken from the highest bidder. This deposit will contribute towards the purchase price.

Prospective buyers 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, please see sdlauctions.co.uk/buy-property/telephone-proxy-internet-bidding/


Auction Fees

The sale of this lot is subject to a buyer’s administration fee of £1074 including VAT (unless otherwise stated in the catalogue description), 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, or to find out more about any additional fees associated with this property please contact the auction office.

Full terms and conditions are available on the SDL Auctions website - sdlauctions.co.uk/wp-content/uploads/2019/04/SDL-Auctions_buyer-terms.pdf



Listing History

Added on Rightmove:
03 July 2019

Nearest stations

  • Wilkinson St (0.9 mi)
  • Radford Rd (1.1 mi)
  • Shipstone St (1.1 mi)
Distances are straight line measurements from centre of postcode

Nearest schools

Use the school checker

To view this property or request more details, contact:

SDL Auctions Bigwood, Birmingham

155 Great Charles Street Queensway Birmingham B3 3LP

0121 396 0363 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Map & Street View

Nearest stations

  • Wilkinson St (0.9 mi)
  • Radford Rd (1.1 mi)
  • Shipstone St (1.1 mi)
Distances are straight line measurements from centre of postcode

To view this property or request more details, contact:

SDL Auctions Bigwood, Birmingham

155 Great Charles Street Queensway Birmingham B3 3LP

0121 396 0363 Local call rate

How much will it cost me to call the number displayed on the site?

Standard geographic charges from landlines and mobiles apply and calls may be included in your telecom provider's call package.

Disclaimer - Property reference bw_birmingham_1446723_15294. 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 SDL Auctions Bigwood, Birmingham. 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.

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*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.”

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 SDL Auctions Bigwood, Birmingham on 0121 233 5046.


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