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Lot 212

Prime Chester House, Eastwood – High Yield Mixed-Use Property

Guide price £ 130,000

Type of Sale

Auction

Key Features

  • Future Development Potential (STCC)
  • Ideal Investment opportunity
  • Part Vacant/Part let
  • Tenure: Freehold
  • Three Storey Commercial Property

Description

Introducing Chester House, an exceptional commercial property situated at 2-6 Mansfield Road in the vibrant heart of Eastwood, Nottinghamshire, NG16 3AQ. This three-level building presents a unique investment opportunity with a promising potential for substantial rental income.

Perfectly positioned on Mansfield Road, near its intersection with Nottingham Road, Chester House enjoys a prime location with high foot traffic, making it an ideal spot for both new and established businesses. The ground floor is currently rented at £550 per month, 1 office on the first floor is let on a flexible lease agreement for £370.00 Per month while the upper floors provide additional serviced office space.

Once fully occupied, Chester House could generate an estimated annual rental income of approximately £25,320, making it an attractive prospect for investors. Furthermore, the upper floors could potentially be converted into residential flats under permitted development, subject to approval from the local planning authority.

Key highlights of Chester House include its three-level layout, part vacant/part let status, and an EPC rating of D. With a freehold tenure and potential income of around £25,000, this property represents a solid investment in a popular and convenient location.

Nestled in Eastwood, Nottinghamshire, Chester House is surrounded by local businesses and amenities, contributing to a lively and bustling atmosphere. Nearby attractions include the D.H. Lawrence Birthplace Museum, Eastwood Hall, and a variety of shops, restaurants, and cafes within walking distance.

Don’t miss this fantastic investment opportunity. Contact us today to arrange a viewing of Chester House and discover its full potential.

BUYER’S PREMIUM Upon the fall of the hammer, the buyer is required to pay a 10% deposit. In addition, a buyer’s premium of 2% of the sale price, a minimum of £5,000 + VAT, is due upon the exchange of the contract. To register to bid with us, we require 2 forms of ID (Passport, Driving Licence) in compliance with the Anti-Money Laundering Act.

For more information, please visit:

blog-everything-you-should-know-about-mixed-use-properties/

visit-nottinghamshire.co.uk/explore/eastwood

 

 

Get in touch

Tom Barrett National Sales Director

Location

Chester House, Eastwood, Nottinghamshire NG16 3AQ ///nags.detriment.modern

Viewing Details

Viewing’s Available subject to 48 Hours Notice upon request with one of our agents.

Accommodation

A three storey commercial premises is in a prominent location.

 

Situated on Mansfield Road close to the junction with Nottingham Road and surrounded by other local business premises.

 

Arranged as commercial space to the ground floor with serviced office above.

 

Ground floor commercial space and four serviced offices above along with two shared kitchens and three shared wcs.

 

The ground floor is let at £550 per calendar month/£6,600 per annum on a seven-year lease.

 

The two upper floors are currently vacant. The estimated rental value of each office is £90 per week/ £4,680 per annum.

 

The total estimated rental income once fully let circa £25,320 per annum.

 

We are informed the upper floors could be converted to residential flats under permitted development. Buyers are advised to seek verification of this from the local planning authority. Prospective buyers must make all necessary independent enquiries in this respect for their specific, intended use prior to placing their bid, as this will be binding.

Map

Street View

Property Video

Income

The ground floor is let at £550 per calendar month/£6,600 per annum on a seven-year lease.
1 Office on the First floor Let on a flexible lease for £370.00 PCM - £4,440 PA
Potential income once fully Let circa £25,000

EPC

EPC Rating: D
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Important Notices & Guidance Notes

Important notices

Pre-registration approval to bid, guide prices, reserves, additional charges and other matters.

Pre-registration approval to bid World of Auctions now require all bidders who wish to bid at our Auctions to register. All checks required by current anti-money laundering legislation must be satisfactorily completed as part of this process before prior approval to bid will be given.

Please use the links on our website to pre-register. Following approval to bid, the buyer named in your registration cannot be changed without the consent of the auctioneers.

Guide Prices

A guide price (to include a range of prices), is not an indication of the anticipated eventual selling price or a valuation; it is an indication of the minimum price ( “the Reserve” ) at which (or range of prices within which) the seller might be prepared to sell. The eventual sale price can and frequently does, exceed the guide price.

Where a range is given, the Reserve will sit within that range and will not exceed the top end of the range. Where a single figure Guide Price is given, the Reserve will be within 10%, upwards or downwards, of that figure.

The guide price may be subject to change up to and including the day of the auction. The latest published guide price (or range of prices) is displayed on our website, and you should check the website regularly for updates and on the day of the auction.

All guide prices are quoted “subject to contract”.

Please note the guide price for the Lot does not include: – any Buyers’ Fee charged by the auctioneers; – VAT on the sale price; – SDLT or any other Government taxes.

Additional costs and fees charged by the seller or third parties that might apply to some Lots and/or some buyers.

If a guide price is listed as “TBA”, it means no guide price has been set at present. Please do call our office about this. The guide price, or range of prices, will be published online immediately it becomes available and you should check the auction website regularly for updates and on the day of the auction.

Reserve Prices

The reserve price is the minimum price at which the Lot can be sold.

Whilst every effort is made to ensure that the advertised guide prices are up to date. it is possible that the reserve price set for any Lot may exceed the previously quoted guide price. This is because the seller may fix the final reserve price just before the Lot is offered for sale and you should check the website regularly for updates and on the day of the auction.

World of Auctions, Residential and Commercial Auctions. Our content is meticulously curated by our seasoned professionals, specifically tailored for discerning property buyers. Our platform is best suited for experienced institutional or business buyers, as well as individuals equipped with the necessary knowledge and expertise to make informed purchasing decisions. We deal in properties that come with their own unique set of risks, which our sophisticated buyers understand. If you’re uncertain about meeting these prerequisites, we recommend seeking independent advice or reaching out to us directly.”

Buyers Premium 

A buyer’s premium is an additional charge that successful bidders are required to pay on top of their final bid price at a property auction. This fee is typically a percentage of the final bid and is paid directly to the auction house. It serves as a kind of commission for the auctioneer’s services. The exact percentage can vary depending on the auction house. At world of Auctions our buyers premium on Property (Real Estate sales) is normally £5000 plus vat. It is usually clearly stated in the auction’s terms and conditions. It’s crucial for bidders to factor in the buyer’s premium when determining their maximum bid, as it significantly affects the total cost of the property.

Buyers’ fees, Seller’s fees and additional charges

For each Lot, a documentation charge / Fee is payable on the fall of the hammer to World of Auctions as follows:

Residential Auctions – Lots sold for £10,000 or more: Buyers’ Fee of £1,500 inclusive of VAT.

Lots sold for less than £10,000: Buyers’ Fee of £500 inclusive of VAT.

Commercial Properties – All Lots: Buyers Fee £1,000 excluding VAT

Additional charges and fees might be charged by the seller and/or other third parties. You are strongly advised to read the Special Conditions of Sale for the Lot prior to bidding to check for any additional charges and fees and to check the addendum which might also (but does not always) contain details of such amounts.

VAT may be chargeable in addition to the sale price for the Lot. The auctioneer will announce this and will be contained within the particulars.

Other Matters

Please note that Lots may be sold or withdrawn at any time prior to auction.

Please note that the amount of Bidder Security (payable on application to bid at the auction) and the Buyer’s Fee may be varied from the standard amounts quoted upon or website or by a member of our sales team. So please check.

Please refer to the addendum, the Particulars and/or the conditions of sale.

Mapping data licensed from Ordnance Survey with the permission of the Controller of Her Majesty’s Stationery Office. © Crown Copyright. All rights reserved. Licence number 100022432. Location plans are reproduced from the Ordnance Survey mapping with the permission of Ordnance Survey on behalf of the Controller of Her Majesty’s Stationery Office, © Crown copyright and Database Rights 2018 OS 100060020

The plans and photographs shown in the catalogue are included in order to assist you in locating the Lot in question. They are not to be taken as drawn to scale and any arrows on plans or photographs are merely to assist you in finding the Lot, not for the purpose of indicating legal boundaries or which direction the lot is facing.

The Auctioneers do not warrant or represent that any plans or photographs show the up-to-date position with regard to occupiers either for the Lot or for any other properties shown in such plans or photographs.