Draft Details Only- Awaiting Vendor Approval

The property is situated on the corner of South Street and George Street in an established residential area, with some commercial concerns.  The shop offers spacious accommodation but may have scope for conversion to residential accommodation subject to planning consent.  The five bed-sitting rooms (plus a store room) are currently let on assured shorthold agreements at a reserved rent of £13,780 per annum combined.  If the shop unit was let, it is anticipated that the total rental yield would exceed £18,000 per annum. 

In more detail the accommodation is as follows -

Corner Sales Shop

With display windows to both frontages and corner door (419 square feet or 38.9 square metres).

Rear Workshop, Separate Store

Office

(152 square feet or 14.1 square metres).

Entrance Lobby

Accessed from South Street.

Lounge 187 square feet or 17.4 square metres.

Kitchen

With usual range of fittings

First Floor -

Five Bed-Sitting Rooms

Bathroom

Two Wc's

Outside

Rear yard with large garage and parking for four to five cars.  Small garden.  Access is off George Street at side.

Location

The main road through Riddings is known as Greenhill Lane.  Proceeding southwards, pass Greenhill Industrial Estate on the right hand side, take the next left hand turn into South Street and the property is on the left hand side on the corner of George Street.

Vendors Solicitors/Licensed Conveyancers

Robinsons, 10-11 St. James Court, Friar Gate, Derby DE1 1BT - telephone 01332-291431

Tenure

Freehold. Part vacant, part let.

Conditions Of Sale

The Conditions of Sale will be deposited at the offices of the auctioneers and vendors solicitors/licensed conveyancers seven days prior to sale and the purchaser shall be deemed to have knowledge of same whether inspected or not.  Any questions relating to them must be raised prior to 12.30 pm.  Prospective purchasers are advised to check with the auctioneers before the sale that the property is neither sold or withdrawn.

The purchaser will also be deemed to have read and understood the auction conduct notes printed within the sale catalogue.

Note

Prospective purchasers will need to register within the auction room before the sale commences.  Two items of identity will be required together with an indication of how a contractual deposit will be paid.  We do not take cash or credit card deposits.

The sale of each lot is subject to a contract documentation charge of £145 (inc VAT) payable on the fall of the hammer.

For Sale by Auction: Thursday 6th September 2007

At Pride Park Stadium, Derby

Commencing at 12.30pm

www.grahampenny.com