37 - 41 Knifesmithgate, Chesterfield, Derbyshire S40 1RL

A freehold investment opportunity comprising three commercial units along with a residential dwelling offered fully let, boasting a current rent passing of circa £65,706 per annum.

The accommodation comprises a three storey building with cellarage and having a mock Tudor frontage, mainly built of brick with a pitched roof to the main building and flat to the rear extension.

The property comprises to the ground floor a retail shop with substantial amount of storage space and vehicle delivery area at the rear, along with a separate restaurant accessed from the rear of the building. The upper floor accommodation is accessed via a staircase leading from Knifesmithgate to accommodation above comprising a Hair Salon and above this a residential apartment.

We are advised the current income consists of:

Restaurant with rent passing £24,752 per annum - commercial lease 25 years from 01.06.2028 - rent review every 5th year, effectively FR & I - rent review 2028

Nail Shop £24,154 per annum - commercial lease 15 years from 01.03.2019, rent review every 5th year, effectively FR & I - rent review 2029

Hair loft located on the first floor £10,800 per annum - Commercial lease 5 years from 01.07.2025 effectively FR & I - reversion 2030

Residential apartment on the third floor £6,000 per annum

Current £65,706 per annum total income.

Interested parties are advised to inspect the legal pack for more information.

LOCATION:
Chesterfield is a large market town located 10 miles south of Sheffield and 27 miles north of Derby. The town has excellent road communications being located on the A61, at its junction with the A619 and the A617 which provides direct access to the M1 Motorway (Junction 29). Chesterfield Rail Station provides mainline and local rail services to destinations including Manchester, Birmingham and London St Pancras International.

The property is situated on the north side of Knifesmithgate, close to its junctions with Shepley's Yard and Elder Way Occupiers close by include Oxfam, Admiral, Vodaphone, Specsavers, Greggs and Card Factory amongst others.

Auction Details

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

Binding contracts will be exchanged at the point of sale.

All sales are subject to our Common Auction Conditions and Bidder Terms. Properties located in Scotland and Northern Ireland will be subject to applicable local laws.

Auction Deposit and Fees

The following deposits and non- refundable auctioneers fees apply:

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

• Buyer’s Fee of 4.8% of the purchase price (subject to a minimum of £6,000 inc. VAT)

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 our auction processes, please refer to the Bidder Terms which can be viewed on our home page.

This explains the types of auction and sale methods we offer, the bidding 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.