BIDDING OPENS in...

Map & Location

Map   Street View   Satellite

Description

  • Status: Available
  • Type: Commercial
  • Ownership: Freehold
  • Occupation: Tenanted

IMMEDIATE INCOME PRODUCING TOWN CENTRE INVESTMENT. Excellent trading position opposite B&M and the town's multi storey car park with parking for over 500 vehicles. PASSING RENT OF £20,000 PER ANNUM

Comprises a ground floor retail showroom with retail and ancillary accommodation at first floor. Ground: 327sqm (3,520sq ft) 1st Floor: 301sqm (3,240sq ft) Total: 628sqm (6,760sq ft)

FULLY REFURBISHED prominent retail unit recently let on 10 year FRI lease until 2030. Rent review in 2025 with deposit of £5,000 held by landlord. Secure tenant. Well-established business locally.

Popular shopping precinct with high footfall. Surrounded by national retailers including Halifax, Papa John's Pizza, Topshop, GAME, Primark, Marks & Spencer, McDonalds, HSBC and many more

OVER £100,000 SPENT ON REFURBISHMENT OF THE PROPERTY. IMMEDIATE RENTAL INCOME OF £20,000 per annum. Prime trading position within high footfall shopping precinct.

IMMEDIATE INCOME PRODUCING TOWN CENTRE INVESTMENT. Excellent trading position opposite B&M and the town's multi storey car park with parking for over 500 vehicles. PASSING RENT OF £20,000 PER ANNUM. Comprises a ground floor retail showroom with retail and ancillary accommodation at first floor. Ground: 327sqm (3,520sq ft) 1st Floor: 301sqm (3,240sq ft) Total: 628sqm (6,760sq ft) FULLY REFURBISHED prominent retail unit recently let on 10 year FRI lease until 2030. Rent review in 2025 with deposit of £5,000 held by landlord. Secure tenant. Well-established business locally. Popular shopping precinct with high footfall. Surrounded by national retailers including Halifax, Papa John's Pizza, Topshop, GAME, Primark, Marks & Spencer, McDonalds, HSBC and many more Modernised retail premises in heart of Mansfield town centre. Opposite B&M Bargains and the town's multi storey car park with parking for over 500 vehicles. PRIME UNIT with easy access. Long Leasehold. Held for a term of 125 years from 04/04/1979 at a peppercorn rent. Comprises a ground floor retail showroom with retail and ancillary accommodation at first floor. Close to the Four Seasons Shopping Centre. May be suitable for hot food premises (Local Authority is Mansfield District Council). OVER £100,000 SPENT ON REFURBISHMENT OF THE PROPERTY. IMMEDIATE RENTAL INCOME OF £20,000 per annum. Prime trading position within high footfall shopping precinct. The premises are not Listed nor are they situated within a Conservation Area

The property is situated on the South side of Stockwell Gate, West of Quaker Way within the town centre of Mansfield. Mansfield is a historic market town and busy sub-regional retailing centre, located 15 miles north of Nottingham. The town has a shopping catchment close to 320,000 and the majority of national multiple retailers are represented in the town. The town benefits from an award winning public transport interchange, which is situated within s short walk to the rear of the demise. Neighbouring occupiers include B&M Home Bargains and The Four Seasons Shopping Centre.

Full Address: 37 Stockwell Gate, Mansfield, Nottinghamshire, NG18 1LA

Show More

Tenancy Details

Type of Agreement: Full Repairing & Insuring (FRI)
Length: 2030
Rent: £20,000 per year / £1,667 per month
Yield: 11% (approx)
Tenant: Company
Notes: Tenant: Lounge & Bedroom Ltd Term: May 2020 - May 2030 Passing Rent: £20,000p.a.x Review: 5 yearly Deposit: £5,000 held by landlord.

Document Downloads

Legal Pack (Available)

Pricing Information & Bidding

Opening Bid: £187,000

What is an Opening Bid? This property is entered into an online auction where the bidding will start or open at the above price. Unless specified all properties are subject to a Reserve (minimum acceptable price).

How to Bid... To take part in the online auction you must firstly create a bidding account. Once you have a bidding account you can then login and place bids during the auction. Please click on the following link to view the latest Online Auction Bidders Guide now.

View Live Online Auction

Offer Now... You may submit an offer now on this property for the owner to consider. If they are will are willing to sell you the property now then it is a matter of making the required deposit payment to secure the purchase. Complete our ONLINE OFFER FORM now to put your offer forward to the sellers.

Submit Offer Now

Terms of Sale

  • 10% Deposit
  • Standard Completion
  • Buyers Fee = 3% of Sale Price (Minimum £3,250 + vat)

STANDARD TERMS OF SALE are 4 week completion with 1 week extension. Sellers can request a varied completion and buyers must satisfy themselves prior to bidding.

Payment Calculator

Please use our PAYMENT CALCULATOR to confirm the necessary reservation deposit for this property if you are successful with an offer now or bid at auction.

Payment Calculator

Auction Details

Date & Time: 28 November 2024, 10am-3pm
Type: Timed Online Auction

View Full Auction Catalogue