Private landlords wanting to invest in town-centre property are being urged to take a look at a shop, with flat above, in Kirkby.
For the mixed-use property at 5, Station Street is to come under the hammer at auction on Friday, October 20. And experts believe it could be an attractive proposition for buyers looking to rent it out.
“This is a superbly presented property based in a prime town-centre location,” said Vejay Pal, senior valuer at SDL Auctions Graham Penny, who are hosting the auction in Nottingham.
“Estimated rental returns are worth up to 20 per cent based on the guide price, and so we are expecting some strong bidding for this lot.
“It is a great example of the wide variety lots we have at our auction, and we are expecting a busy day.”
The shop and flat has a guide price of £45,000-plus, and an estimated combined rental income of about £8,000 to £9,000 per year, if fully let.
The auction is taking place at Nottingham Racecourse at Colwick Park in the city from 11.30 am. In total, there are 35 lots, and the full catalogue can be found at the SDL Auctions website. The firm is one of the largest auction networks in the UK.
Other lots at the auction that might be of interest to buyers from the Mansfield and Ashfield area include a 10,000 sq ft warehouse and a substantial corner-shop with three-bedroomed flat above.
The warehouse, which has a guide price of £135,000, is on St Peters Street in Radford, Nottingham and comprises two units on the ground floor and larger storage areas on the first and second floors, plus an extensive car park. It also boasts its own south-facing solar panels producing energy worth about £2,000 per year. The corner-shop is on Wollaton Avenue in Gedling and has a guide price of £190,000.