Commercial Property in Derby

3 Market Place, Derby, DE1 3PW
  • Lot No: 188
  • Property Type: Commercial Property
  • Contract Type: Unconditional with Fixed Fee

Guide Price* £150,000+ plus fees

Property Description

The property comprises a mid-terraced building currently occupied by a Vape Business extending to approximately 100 sq.ft (93 sq.m). The property benefits from a roller shutter along with side access leading to a rear yard.

Tenure

The property is held on a lease for 999 years from completion at a current ground rent of a peppercorn per annum.


Tenancy Details

The property is being sold subject to a 5 year tenancy agreement commencing 16.09.2016 let to Capvar Media Ltd (t/a Vapouround) on a Full Repair and Insuring basis. Current gross income of £25,000 per annum.


Location

The premises are well located in the heart of Derby’s Cathedral Quarter within the boutique fashion pitch of Sadler Gate, which provides a mix of independent and national retailers in addition to a mix of new bars and restaurants. Nearby occupiers include Dr Martens, Joules, White Stuff, Vision Express, Cruise Clothing, and Canopy. Road and bus connections are all within the vicinity with Derby train station within walking distance.


VAT

We understand that VAT will not be chargeable on this transaction


Tenure

See Legal Pack

Auction Details: The sale of this property will take place on the stated date by way of Auction Event and is being sold as Unconditional with Fixed Fee. 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 auctioneer’s fee apply: • 10% deposit (subject to a minimum of £5,000) • Buyer’s Fee of £1,500 inc. VAT The Buyer’s 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. 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 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.

Auction Details

Date 30th October 2020

Venue National Property Auction - Day 2 (Commercial)
The National Property Auction (Commercial) will be conducted behind closed doors by auctioneers Andrew Parker and Graham Penny. The auction will be live-streamed online with remote bidding only. Registration for bidding will close at 12pm the day before the auction.

Lot Information

Contact Us

If you have any questions, call our team on 0800 046 5454

Map

3 Market Place, Derby, DE1 3PW