Commercial Property in Derby

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

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

Conditions of Sale The Conditions of Sale will be deposited at the offices of the auctioneers and vendors solicitors/licensed conveyancers prior to the auction 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 the auction. Prospective purchasers are advised to check with the auctioneers before the sale that the property is neither sold nor withdrawn.   The purchaser will also be deemed to have read and understood the auction conduct notes printed within the sale catalogue.   A 10% deposit is payable on the fall of the gavel, subject to a minimum of £5,000.   *Guide Prices and Reserve Prices Each property sold is subject to a Reserve Price. The Reserve Price, which is agreed between the seller and the auctioneer just prior to the auction, 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. Both the Guide Price and the Reserve Price can be subject to change up to and including the day of the auction. For a full definition of the Guide Price and the Reserve Price click here.   Energy Performance Certificates EPCs can be viewed in full in the lot information section at the top of this page or in the legal pack.   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 cheque deposits. Remote bidding facilities are also available.   Auction Fees The sale of each lot is subject to a buyer’s fee of £1,074 inc VAT (£895 + VAT) (unless otherwise stated in the important notices), payable on the fall of the hammer.   The purchase of this property may include associated fees not listed here. Any additional fees will be confirmed in the legal pack which can be downloaded from our website from the lot information section above. Or to find out more about any additional fees associated with this property please contact the auction office.

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 0345 222 0197

Map

3 Market Place, Derby, DE1 3PW