Grange Inn, Casey Lane, Burton-On-Trent DE14 2JQ

***HIGH YIELDING INVESTMENT OPPORTUNITY***

An excellent freehold opportunity to acquire a former public house, being part let part vacant, occupying a prominent corner plot position, situated within an established residential area, conveniently positioned for the town centre.

Constructed of brick, set beneath a pitched tiled roof the two storey property boasts an approx 8,000 sq.ft floor area with ground floor being vacant. In our opinion there is significant scope to convert the ground floor pub into 4x one bedroom self contained flats, subject to planning. To the first floor landing, there is a well-appointed one bedroomed self contained flat currently vacant. Located off from a further landing there are four separate bedrooms, communal fitted kitchen with 2x separate fitted shower rooms. Three of the bedrooms are let on ASTs at £450pcm, producing a combined gross rental income of £16,200pa. When fully let we would anticipate a combined rental income of circa £29,000pa.

Outside to the rear there is a full width enclosed walled garden with hardstanding area and double timber doors. There is an additional adjoining brick built outbuilding that lends itself to further residential conversion subject to planning.

The historic market town of Burton boast an excellent range of amenities situated in the borough of East Staffordshire just off the A38 that provides swifts access onto the cities of Derby and Birmingham, A50, Toyota and East Midlands Airport.

Auction Details:

The sale of this property will take place on the stated date by way of Auction Event and is being sold under and Unconditional sale type.

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 auctioneers fee apply:

• 10% deposit (subject to a minimum of £5,000)

• Buyers Fee of 1.2% of the purchase price (subject to a minimum of £1,500 inc. VAT)

The Buyers 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 Price:

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.