5th & 6th March Property Auction Preview (#375896)

FEATURES
Online auction date 5 & 6 March 
Guide Price £295,000+
Freehold 
Current income from workshop £14,052 pa
Garage workshop & detached bungalow 
Garage tenant holding over
Suitable for re-development 
Vacant bungalow
Total site area approximately 0.25 acres 
Opportunity to add value

OVERVIEW
For sale by online auction a mixed use commercial and residential site with a garage workshop to the front and a vacant detached bungalow to the rear.
The workshop is currently occupied under a lease agreement which commenced in November 1981. The lease was most recently extended for 10 years to 2016 and since then the tenant has remained in occupation and is currently holding over.
The bungalow is of brick construction with a pitched tiled roof and requires full refurbishment and modernisation throughout.
Bottesford is approximately 8 miles to the west of Grantham, 15 miles to the north of Melton Mowbray and 17 miles to the east of Nottingham, on the borders of Leicestershire, Nottinghamshire, and Lincolnshire.
More specifically, the property is situated on the south side of High Street which runs east towards the junction with Belvoir Road and Market Place and west into Nottingham Road.

Floor Area - Bungalow
Total approx. area: 87 m2 / 936 ft2
(taken from EPC)

Floor Area - Garage
Total approx. area: 149 m2 / ft2
(taken from EPC)

Business Rates
The property has a rateable value of £9,100 with effect from 1 April 2023.

EPC
Bungalow - Within band F.
Garage - Within band G.

Tenure and Tenancies
Freehold - land registry title no. LT489143.

The garage workshop is subject to a lease agreement dated 1 November 1981, originally for a term of 5 years. See legal pack for further information.

Legal Pack
https://www.johnpye.auctiondocs.com/

Buyer’s Premium
3% (min. £4,500) inc. VAT.

Viewings
Please contact John Pye Property by email at [email protected] or on 0115 9706060.