110-116 Birchover Road, Nottingham, Nottinghamshire NG8 4BW

For sale on 30 May 2024
The National Property Auction will be broadcast live on our website and open to remote bidding online, on the phone and by proxy. Registration for bidding will close at 5pm the day before the auction.
The auction will commence at 09:00.

A freehold investment opportunity comprising 4 commercial units with 5 residential dwellings above (3 let to a housing association giving hands off, low risk income). Current rental income of £69,600 per annum.

The ground floor comprises 4 commercial units with forecourt area to the front. There is ample on street parking within the vicinity.

112 Birchover Road trading as a beauty salon with current rent passing of £7,200 pa on a Full Repair and Insure Basis. Rolling.

114 Birchover Road trading as a takeaway with current rent £8,400pa expiring 31/01/26 on a Full Repair and Insure basis.

116A Birchover Road trading as a barber shop with current rent passing of £7,200 pa on a Full Repair and Insure basis. Rolling.

116B Birchover Road trading as a music studio with a current rent passing of £7,200pa on a term ending 31/01/26. Full Repair and Insure Basis.

The first floor comprises 5 residential units all appearing to be finished to a good standard of repair and benefitting from separate entrance.

110 Birchover Road, Flat 1 - Let to a housing association producing £9,600 until 30/01/28.

110 Birchover Road, Flat 2 - Let to a housing association producing £9,600 until 30/01/28.

110 Birchover Road, Flat 3 - Let to a housing association producing £9,600 until 30/01/28.

116 Birchover Road, Flat 1 - Let on an AST producing £5,760 per annum.

116 Birchover Road, Flat 2 - Let on an AST producing £5,040 per annum.

The property is located along Birchover Road approximately 5 miles West of Nottingham within a residential housing estate.

Draft Sales Details These sales details are awaiting vendor approval.

Tenure: Freehold

EPC Rating: D C C B and Flats Awaited

Terms:
Auction Details:

The sale of this property will take place on the stated date by way of Auction Event and is being sold as Unconditional with Variable Fee (England and Wales).

Binding contracts of sale will be exchanged at the point of sale.

All sales are subject to SDL Property Auctions Buyers Terms. Properties located in Scotland will be subject to applicable Scottish law.

Auction Deposit and Fees:

The following deposits and non- refundable auctioneers fees apply:

• 5% deposit (subject to a minimum of £5,000)

• Buyers Fee of 4.8% of the purchase price for properties sold for up to £250,000, or 3.6% of the purchase price for properties sold for over £250,000 (in all cases, subject to a minimum of £6,000 inc. VAT). For worked examples please refer to the Auction Conduct Guide.

The Buyers Fee does not contribute to the purchase price, however it will be taken into account when calculating the Stamp Duty Land Tax for the property (known as Land and Buildings Transaction Tax for properties located in Scotland), because it forms part of the chargeable consideration for the property.

There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.

Additional Information:

For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions home page.

This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack (and any applicable Home Report for residential Scottish properties).

Guide Price & Reserve Price:

Each property sold is subject to a Reserve Price. The Reserve Price 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. A full definition can be found within the Buyers Terms.