Property for sale

Chester House, 2-6 Mansfield Road, Eastwood, Nottinghamshire, NG16 3AQ

INCOME PRODUCING COMMERCIAL OFFICES. CONVERSION OPPORTUNITY (STP)

Palace Auctions are excited to bring to the market this excellent opportunity to acquire this commercial property located in Eastwood, Nottingham. This property is ideal for investors with the potential to achieve a high rental income. Sitting in a prime location this property has a high rate of footfall making this the perfect location for a new or a current running business.

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.

x 1 Office on the first floor current let on a flexible lease, achieving £370.00 PCM - £4,440.00 PA.

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.

A great investment in a popular and convenient location.

Key Features

1. Three Storey Commercial property

2. Ideal investment opportunity

3. EPC Rating: D

4. Part vacant/Part let

5. Potential income circa £25,000

Tenure: Freehold

EPC Rating: D

BUYER’S PREMIUM

Applies under the fall of the hammer. The purchaser shall pay 10% deposit. Plus, in addition, a buyer’s premium of 2% of the sale price, a minimum of £5,000 + VAT upon exchange of the contract.

When registering to bid with us we will require 2 forms of ID (Passport, Driving Licence) to fit in line with the Anti-Money Laundering Act.