2-8 Corporation Street, Chesterfield S41 7TP

For sale on 10 December 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 10:00.

Situated within the town centre, opposite the Pomegranate Theatre (located within the Grade 2 listed Stephenson Memorial Hall) and close to Chesterfields famed Crooked Spire Church, the Church of St Mary and All Saints.

Corporation Street is the towns hot spot for bars, restaurants and, of course, the aforementioned theatre - currently undergoing renovation works as part of ambitious plans to refurbish and reimagine the venue.

Corporation Street is within two minutes walking distance of Chesterfield railway station.

2-4 CORPORATION STREET Comprising -
Shop - Central Cars Taxi Rank Floorspace - 1,184sqft / 110sqm. Lease Details - Let on a 5-year lease granted in June 2016 (currently holding over). Rent: £13,850 per annum (£11.70/sqft).
First Floor Office 1 - NJM London Floorspace - 202sqft / 18.72sqm. Lease Details - Let on a 3-year lease granted in December 2023. Rent: £1,450 per annum (£7.18/sqft).
First Floor Office 2 - Vacant Floorspace - 227sqft / 21.05sqm.
First Floor Office 3 - Handley Care Services Floorspace - 237sqft / 22sqm. Lease Details - Let on a 3-year lease granted in August 2023. Rent: £1,700 per annum (£7/sqft).
Second Floor Office 4 - Vacant Floorspace - 182sqft / 16.9sqm.
Second Floor Office 5 - Holman Stanley Floorspace - 142sqft / 13.2sqm. Lease Details - Let on a 3-year lease granted in September 2023. Rent: £995 per annum (£7.01/sqft).
Second Floor Office 6 - Vacant Floorspace - 220sqft / 20.45sqm.
Second Floor Office 7 - Vacant Floorspace - 167sqft / 15.5sqm.
6-8 CORPORATION STREET Comprising -
Shop Unit 1 - Aruba Bar Floorspace - 2,738sqft / 254sqm. Lease Details - Let on a 5-year lease granted in May 2017 (currently holding over). Rent: £25,000 per annum (£9.13/sqft).
Shop Unit 2 - Indian Blues Restaurant Floorspace - 1,269sqft / 118sqm. Lease Details - Let on a 10-year lease granted in January 2020 (rent review 2025). Rent: £12,050 per annum (£9.49/sqft).
Shop Unit 3 - The Loop Bar Floorspace - 3,330sqft / 309sqm. Lease Details - Let on a 10-year lease granted in May 2023. Rent: £22,500 per annum (£6.76/sqft).
Shop Unit 4 - Vacant Floorspace - 151sqft / 14.05sqm.
No. 3 Theatre Lane Basement level at rear – inclusive to above shop premises
First Floor Office 1A - Vacant Floorspace - 1,004sqft / 93.27sqm.
First Floor Office 1B - - Pearson Driving Assessment Floorspace - 2,027sqft / 188.31sqm. Lease Details - Let on a 5-year lease granted in October 2019. Rent: £18,000 per annum (£8.88/sqft). In the process of renewing the agreement at the same rental level for a 2-year period (subject to a mutual break clause at 12-months), commencing in October 2024. The new lease will be contracted out of the Landlord and Tenant Act 1954.
First Floor Office 1C - Vacant Floorspace - 468sqft / 43.43sqm
Second Floor Office 2A - Vacant Floorspace - 834sqft / 77.44sqm.
Second Floor Office 2B - Vacant Floorspace - 439sqft / 40.77sqm.
Second Floor Office 2C - Vacant Floorspace - 461sqft / 42.83sqm.
Second Floor Office 2D - Vacant Floorspace - 1,051sqft / 97.62sqm.
TOTAL RENT: £95,545 (Potential rent of £114,120 if fully let).
Conservation Area We have been made aware this property is in the Town Centre (Chesterfield) conservation area. Prospective buyers are advised to make all necessary independent enquiries prior to bidding, as any bid made will be binding.

Tenure: Freehold

EPC Rating: C E B B B D

Terms:
Auction Details:

The sale of this property will take place on the stated date by way of Auction Event and is being sold under and Unconditional sale type.

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 fee apply:

• 10% deposit (subject to a minimum of £5,000)

• Buyers Fee of subject to a minimum of £1,500 inc. VAT

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 (including the vendors legal and surveyors fees), which will be available to view within the Legal Pack. The Legal Pack also includes information on service charges and any rent arrears (if applicable) as well as contract and transfer documentation. 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.