Sutton-In-Ashfield Nottinghamshire NG17 4AX

For Sale £595,000

Property Details

Sutton-In-Ashfield Nottinghamshire NG17 4AX

For Sale £595,000
Description

Mixed investment for sale, Sutton in Ashfield

- Nottinghamshire

Mixed Investment comprising 2 commercial units and 5 flats.
Located just off the town centre of Sutton-In-Ashfield.
Commercial rent £32,000 Per annum
Residential income £22,920 ERV
Asking price £595,000 – 8.7% after costs

LOCATION
Located on the section of Outram Street closest to the town centre accessing Forest Street and Low Street, directly in the shopping centre of Sutton. Sutton-In-Ashfield is a market town in the Ashfield district of Nottinghamshire, with an estimated population of around 45,800, it is situated approximately 4 miles West of Mansfield, and close to the Derbyshire border. Approximately 18 miles to the South is the County capital of Nottingham via the M1 motorway whilst Derby to the South West is between 20 and 27 miles either via the A38 or the M1/A52. Since 1995, the town is served by the Robin Hood Line which provides regular rail service between Nottingham and Worksop. The Sutton Parkway railway station is two miles south of the town centre at the junction of Low Moor Road (B6021) towards Kirkby-in-Ashfield and Penny Emma Way.

DESCRIPTION
A 2 storey property of brick construction under a flat roof. Butting up to the boundary on all sides the ground floor space measures approximately 2,900 SQ FT for Bargain world and 2,160 SQ FT for Pizza Hut.
The first floor accommodation comprises – 2 x two bedroom and 3 x one bedroom flats.

ACCOMMODATION
* Pizza Hut – £17,000 + VAT per annum (20 year lease from December 2005)
* Unit 2 Vacant – ERV £15,000
* 5 first floor flats – £22,920 ERV (Fully Let on AST’s)

AMENITIES
Situated close to the town centre and having access to all local shops and amenities.

SERVICES
We are advised that all mains services are connected to the property. These services have not been inspected or tested by the agent.

TERMS
Offered for sale freehold subject to the exiting tenancies

OUTGOINGS
According to the valuation office agency the current rateable value is £13,250 and £14,250 for the ground floor commercial space. Please contact Ashfield district council for more information about the residential rates.

VAT
Vat may be charged on the purchase price.

LEGAL COSTS
Both Parties will be responsible for their own legal costs.

SERVICE CHARGE
Not applicable.

PARKING NOTES
There is no parking allocated to the unit although short and long term parking is available in public car parks in the town centre.

PLANNING
The property has the relevant use classes and planning for the current use. Interested parties are advised to make their own enquiries.

OTHER
Finance may be available through Independent Financial Brokers and Moores Commercial would be pleased to make an introduction for you. The Brokers are completely Independent of Moores Commercial and will offer confidential, unbiased advice regulated by the Financial Authorities. Please ask for further details.

VIEWING
Viewing is strictly by prior appointment via the sole agents Moores Commercial Tel: 01664 431330 or via email office@moorescommercial.com

Moores Commercial offer a unique personal service helping clients with all aspects of commercial property across the Midlands