Agent Details

BB&J Commercial

4 Chapel Street, Belper, Derbyshire

681 SqFt

Freehold


Freehold £95,000

Description

This is a great opportunity to acquire the freehold of this investment property generating a valuable income stream. The ground and first floor accommodation are currently let on a 10 year full repairing and insuring lease from the 30th July 2014 at a passing £12,600 per annum.

The property comprises a two storey mid-terraced 19th century retail unit spanning the ground and first floor.

Internally the space provides a rectangular-shaped retail area to the ground floor including a WC and further storage to the rear along, with additional storage / office accommodation to the first floor.

Location

Belper is a popular market town situated within the borough of Amber Valley. The main arterial route running through the town is the A6, which links the town with the city of Derby some eight miles to the south, and with the towns of Matlock and Bakewell to the North. Also nearby is the A38 dual carriageway at Kilburn which provides a link to the M1 motorway at junction 28.

More specifically, the property is located in a prominent position at the junction of both the A6 and King Street with the A6 serving as the towns main arterial route.

The property is also located close to a wide variety of established shops, cafes and businesses with a high level of passing traffic and footfall.

Accommodation

The accommodation has been measured on a net internal area basis in accordance with the RICS Code of Measuring Practice (6th edition).

Total Net Internal Area: 681 sq ft / 63.2 sq m

Planning

We understand the property falls under use class E however may be suitable for alternative uses subject to the necessary planning consents.

All planning information should be confirmed with the local authority.

Services

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.

Rates

The property is currently listed on the valuation office website as having a rateable value of £5,000

Legal Costs

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).

Viewing

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). 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.


Key features

  • Representing an impressive 13.2% return based on the guide price.
  • Measuring approximately 681 sq ft / 63.2 sq m (NIA)
  • Auction Date: Thursday 27th June 2024 at 9.00am
  • Guide Price £95,000+ plus fees

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