8 & 10 Outram Street, Sutton-in-Ashfield, NG17 4AX

Freehold Investment Block of Eleven Flats

Local Authority

Description

Situated at the junction with Bentinck Street, close to the amenities available in Sutton-in-Ashfield Town Centre and travelling facilities including Sutton Parkway Train Station. Sutton Lawn is also nearby.

An End of Terrace Corner Building comprising Eleven Self-Contained Flats over Three Floors with Tenancy Schedule arranged as follows:

Flat 1 – Approximately 37 sq m
Let on an Assured Shorthold Tenancy at £375 per calendar month. (Tenant Holding Over)
EPC Rating: D
Council Tax Band: A

Flat 2 – Approximately 49 sq m
Let on an Assured Shorthold Tenancy at £425 per calendar month. (Tenant Holding Over)
EPC Rating: D
Council Tax Band: A

Flat 3 – Approximately 56 sq m
Let on an Assured Shorthold Tenancy at £400 per calendar month. (Tenant Holding Over)
EPC Rating: D
Council Tax Band: A

Flat 4 – Approximately 53 sq m
Let on an Assured Shorthold Tenancy at £450 per calendar month. (Tenant Holding Over)
EPC Rating: C
Council Tax Band: A

Flat 5 – Approximately 46 sq m
Let on an Assured Shorthold Tenancy at £425 per calendar month. (Tenant Holding Over)
EPC Rating: C
Council Tax Band: A

Flat 6 – Approximately 54 sq m
Let on an Assured Shorthold Tenancy at £450 per calendar month. (Tenant Holding Over)
EPC Rating: C
Council Tax Band: A

Flat 7 – Approximately 34 sq m
Let on an Assured Shorthold Tenancy at £450 per calendar month. (Tenant Holding Over)
EPC Rating: C
Council Tax Band: A

Flat 8 – Approximately 58 sq m
Let on an Assured Shorthold Tenancy at £425 per calendar month. (Tenant Holding Over)
EPC Rating: C
Council Tax Band: A

Flat 9 - Approximately 44 sq m
Let on an Assured Shorthold Tenancy at £400 per calendar month. (Tenant Holding Over)
EPC Rating: C
Council Tax Band: A

Flat 10 – Approximately 64 sq m
Vacant Possession
EPC Rating: D

Flat 11 – Approximately 46 sq m
Vacant Possession
EPC Rating: D

Note 1: Understood to comprise Six x Two Bedroom Flats and Five x 1 Bedroom Flats. (See note 2)

Note 2: The auctioneers have not internally inspected the property to verify the accommodation details or layout of the property. The sizes quoted have been obtained from the EPC Register. Purchasers must rely on their own enquiries.

Note 3: Our client has informed us that Serco has expressed interest in leasing all eleven flats for a term of seven years at an annual rent of £77,400. Copies of the 'letters of intent' from Serco are available for inspection in the legal documents. Interested parties are advised to review these documents and will be considered to bid accordingly.

Note 4: We have been advised by the vendor that Seven flats in the building have certificates of lawful use, while two newer flats have prior approval for change of use. The remaining two flats have been subject to Council Tax since 2012. Purchasers must rely on their own enquiries.

Producing £45,600 per annum from Flats 1-9 let as Shown and in addition Vacant Possession of Flats 10 and 11.