Commercial Property in Derby

107, 107a & 111, Uttoxeter New Road, Derby, Derbyshire DE22 3NL
  • Lot No: 28
  • Property Type: Commercial Property
  • Contract Type: Unconditional with Variable Fee

Guide Price* £550,000+ plus fees

Property Description

A superb range of period buildings arranged as office space standing on a plot of circa 0.64 acres. Originally three Grade II listed properties which are now connected via extensions. Offering over 5700 sqft of accommodation. Large plot with ample parking. Offered fully let at £56,000 per annum. Tenant exercised option to break clause with lease expiry date of March 2025 Scope for alternative uses such as childrens nursery or a scheme of residential development, subject to required planning permissions. Well placed in a desirable location which gives easy access to Derby city centre, Derby Royal Hospital and the A38.

NOTE TO BUYERS

The seller's solicitor has confirmed the position as to VAT is as follows:<br>When the charity purchased they did not pay VAT because it was treated as a transfer of a going concern (TOGC). This required it to opt to tax the property. In the CPSE replies we have indicated that a purchaser will not have to pay VAT if they comply with the TOGC requirements, which essentially means that they must opt to tax no later than the day of the auction. If they do not then VAT will be payable.<br>Prospective buyers are advised to make all necessary independent enquiries prior to placing their bid as this will be binding.


Draft Sales Details

These sales details are awaiting vendor approval.


Tenure

Freehold

Auction Details: The sale of this property will take place on the stated date by way of Auction Event and is being sold as Unconditional with Variable Fee (England and Wales). 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 auctioneer’s fees apply:
  • 5% deposit (subject to a minimum of £5,000)
  • Buyer’s Fee of 4.8% of the purchase price for properties sold for up to £250,000, or 3.6% of the purchase price for properties sold for over £250,000 (in all cases, subject to a minimum of £6,000 inc. VAT). For worked examples please refer to the Auction Conduct Guide.
The Buyer’s 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.

Auction Details

Date 21st November 2024

Venue National Property Auction
Our national property auction will be broadcast online with live auctioneers. To bid by proxy, online, or by phone, please submit your registration form no later than 5pm the day before the auction.

Lot Information

Contact Us

If you have any questions, call our team on 0800 046 5454

Map

107, 107a & 111, Uttoxeter New Road, Derby, Derbyshire DE22 3NL