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LOT 3 - Forest Road, New Ollerton, Newark

Guide Price £180,000

Enquiry

Features

  • House
  • 3 Bedrooms
  • LOT 3
  • HIGHLY PROMINENT POSITION
  • THRIVING TOWNSHIP
  • SALES SHOP 166 SQUARE METRES
  • BEAUTIFULLY APPOINTED FLAT

TO BE SOLD BY ONLINE AUCTION (UNLESS SOLD PREVIOUSLY BY PRIVATE TREATY) ON 28TH OCTOBER 2021.

Mixed retail/residential investment opportunity comprising a Bookmakers let to Will Hill, plus spacious first floor flat. Combined rental income £20,800 per annum. High yielding investment opportunity.

DESCRIPTION AND SITUATION

An opportunity to purchase mixed retail/residential investment premises enjoying a highly prominent position in this thriving and expanding former mining town. The retail space is occupied by Will Hill and the premises include a large self contained flat let under an Assured Shorthold Tenancy to a tenant who has been in occupation since 2019. The flat is considerably larger than average and appointed to an excellent standard. A potentially high yielding investment opportunity.

THE RETAIL PREMISES

The retail premises comprise a Bookmakers with a floor area of approximately 166 square metres (1,790 square feet).

PUBLIC WC

(2.97 square metres) (32 square feet).

KITCHEN

12.03 (129 square feet)

OFFICE

12.6 square metres (135 square feet).

STORE

5.83 square metres) 62 square feet.

FURTHER STORE

1.87 square metres (20 feet)

GENTS PUBLIC WC

4.95 square metres (53 square feet).

METER ROOM

4.02 square metres (43 square feet).

FIRST FLOOR FLAT

The first floor flat is self contained and comprises:

ENTRANCE HALL

With staircase leading to the first floor accommodation.

FIRST FLOOR:

Landing.

KITCHEN

Equipped with modern fittings including stainless steel single drainer sink unit. Cupboard containing the gas boiler.

LOBBY/DINING AREA

With central heating radiator.

INNER HALLWAY

With central heating radiator.

LOUNGE

With central heating radiator.

LIVING ROOM

With central heating radiator.

REAR DOUBLE BEDROOM

With central heating radiator.

FRONT DOUBLE BEDROOM

With central heating radiator.

FURTHER DOUBLE BEDROOM

With central heating radiator.

BATHROOM/W.C

Equipped with a White suite comprising a bath with electric shower above, wash hand basin and w.c

OUTSIDE

The premises have a returned frontage to Rufford Avenue. There is a driveway leading down to the Book makers shop adjacent to Number 1 Rufford Avenue.

TENURE

The tenure is freehold subject to the existing tenancies.

The retail unit is let to Will Hill under a Lease dated 16th March 2005 for a term of 20 years and internal repairing and insuring terms.

The self contained flat is, we understand let at 400 per calendar month to a tenant who has been in occupation for approximately 14 years.

METHOD OF SALE

This is the sellers minimum acceptable price at auction and the figure below which the auctioneer cannot sell. The reserve price is not disclosed and remains confidential between the seller and the auctioneer

VIEWING

Strictly by appointment with the auctioneers.

SAFE VIEWING OF PROPERTIES CURRENTLY FOR SALE. It is essential that precautions are taken to ensure social distancing guidelines and we ask all parties to exercise care when arranging to view properties currently for sale. Consideration should be given to the most recent Government Guidelines in respect of social distancing. Individual viewings will take place by arrangement. Interested parties are encouraged to consider photos and other information on our website before deciding to arrange an internal viewing. Not more than two people from the same household should attend at one time. Individuals are recommended to take all reasonable precautions including gloves and a face covering. Do not attend if you are unwell. Access will be arranged on an individual basis with a maximum of 15 minutes per visit. Doors will be opened and the attending surveyor will remain at a distance. It is advised to avoid touching internal surfaces and door handles. Hand sanitiser should be used before and after the viewing.

GUIDE PRICE

An indication of the sellers current minimum acceptable price at auction. The guide price or a range of guide prices is given to assist consumers in deciding whether or not to pursue a purchase. It is usual but not always the case that a provisional reserve range is agreed between the seller and auctioneer at the start of marketing. As the reserve is not fixed at this stage and can be adjusted by the seller at any time upto the day of auction in the light of interest shown during the marketing period, a guide price is issued. The guide price can be shown in the form of a minimum and maximum price range within which an acceptable sale price (reserve) would fall or as a single figure. The reserve price would not normally be higher than the guide price. A guide price is different to a reserve (see below). Both the guide price and reserve price can be subject to change upto and including the day of the auction.

RESERVE PRICE

This is the sellers minimum acceptable price at auction and the figure below which the auctioneer cannot sell. The reserve price is not disclosed and remains confidential between the seller and the auctioneer.

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