Auction Property Retail 

High Street, Alfreton

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Features

  • Auction Date: 24th & 25th March 2021
  • Retail investment property
  • Currently let to A1 Comms Ltd
  • Rent £16,000 pax expiring 8 March 2021
  • Gross Yield: 20%
  • Co-terminus under-lease at £10,000 pax
  • Predominantly local retailers within the immediate vicinity
  • Land and vehicular access to the rear
  • Freehold
  • Approximate total net internal area 721 ft2

Address

83 High StreetAlfretonDerbyshireDE55 7DP
Details
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Property Details

•For Sale By Online Auction: 24th & 25th March 2021
•Guide Price: £79,950
•Retail Investment / Owner Occupier Opportunity
•Tenanted: £16,000 per annum exclusive, 20% Gross Yield
•Freehold

Alfreton is a small town with a population of circa. 25,000 situated on the Nottinghamshire/Derbyshire border due-north of Derby. It has the benefit of being within three miles of Junction 28 of the M1 Motorway and as a result there are a number of large well established industrial estates in the immediate locality including Cotes Park.

Alfreton has a well established retail area centred on the pedestrianised scheme which includes Home Bargains and Wilko. The subject premises are situated on the High Street, a short distance from Costa Coffee.

The property comprises a ground floor lock-up retail unit with the benefit of land to the rear and rear servicing. The property has A1 Use.

Accommodation

Sq M Sq Ft
Ground Floor Sales 49.1 528
Store 9.2 99
Kitchenette 8.7 94
Total 67 721

Services

We understand the property to have mains electricity, water and drainage.

Tenure

Freehold

Investment Analysis

The property is let to A1 Comms Limited (Company No. 04250641). Dun & Bradstreet rating N3.

The lease is for a term expiring on the 8th March 2021 at a current rent payable of £16,000 per annum, payable quarterly in advance. The lease is drawn on an effective full repairing and insuring basis.

The property has been underlet to Mrs M Kerry on a co-terminus lease outside the provisions of the Landlord & Tenancy Act 1954 at a rental of £10,000 per annum exclusive of rates.

Business Rates

The property is currently listed as Shop premises and has a Rateable Value of £9,800.

Guide Price

£79,950+

VAT

VAT is applicable to the purchase price at the prevailing rate

Buyer's Premium

2% (min. £3,600) inc. VAT

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