3 - 5 St. James Street, Derby, Derbyshire DE1 1QT

Located just off the busy Cornmarket on a pedestrian area in the heart of the city centre is a freehold double fronted office, also the former head office to the well-known Graham Penny Auctions.

The premises are let as two separate offices and we are informed by the seller they are producing an income of £12,500 per annum; this income represents an impressive return against the guide price in excess of 13% per annum.

Two retail units are available, each benefiting from its own WC, independent power supply, and electric shutters, making them suitable for a variety of business uses (subject to relevant consents).

The lower ground floor of No. 5 comprises two to three basement rooms, currently occupied by a well-established tattoo studio, providing an attractive and thriving commercial environment.

The well-maintained accommodation has recently been split into two offices, however, can easily be converted back if desired in the future. The wide shop frontage is served by two double glazed entry doors and the Property Source side to the property consists of a shop front with kitchen, storeroom and separate WC. Steps lead to an internal door with access to the other half of the property, where there is again an impressive shop front with kitchen, lobby with stairs leading down to a large cellar area consisting of three useful storerooms, lobby area with two WCs and a further storeroom.

Opposite the offices are the Leek United Building Society, Scargill Mann and Co Estate Agents and nearby businesses include Greggs, Tesco and a number of bars and restaurants all within walking distance.

Auction Details

The sale of this property will take place on the stated date by way of Live streamed auction and is being sold under the Unconditional sale type.

Binding contracts will be exchanged at the point of sale.

All sales are subject to our Common Auction Conditions and Bidder Terms. Properties located in Scotland and Northern Ireland will be subject to applicable local laws.

Auction Deposit and Fees

The following deposits and non- refundable auctioneers fees apply:

• 5% deposit (subject to a minimum of £5,000)

• Buyer’s Fee of 4.8% of the purchase price (subject to a minimum of £6,000 inc. VAT)

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 our auction processes, please refer to the Bidder Terms which can be viewed on our home page.

This explains the types of auction and sale methods we offer, the bidding 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.