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Manchester 0161 967 0122
15th January 2020 Auction
Lot Number - 1
AVAILABLE AT AUCTION
£350,000 - £375,000 Guide Price (plus fees)

James Court
Gainsborough
Lincolnshire
DN21 2FB

ON BEHALF OF RECEIVERS: Attractive development of six apartments and an office suite part let (2 vacant units) and let at an annual equivalent income of £26,700, with potential to rise to £37,200

Register to Bid / Bid >
  • 6 attractive apartments and office unit

  • Approximately 511.23 sq. m (5,502 sq ft)

  • Part let (2 vacant units) and let at an annual equivalent income of £26,700

  • Potential to rise to £37,200 if the two vacant flats were let at the same rent they were previously let

  • Well located, in close proximity to Gainsborough town centre.

  • Site area is approximately 0.08 Hectare (0.22 Acre).

Description

The property provides an attractive development of six apartments and an office suite. It is of two storey construction with brick elevations, beneath a pitched slate covered roof. Windows are timber framed and double glazed, with timber doors. The building is configured in an L shape, surrounding a courtyard/car parking area with space for approximately 11 cars.

Location

The property is located on Northholmem close to the town centre of of Gainsborough, which is approximately 18 miles to the north west of Lincoln and 20 miles to the south east of Doncaster.

Junction 34 of the A1(M) motorway lies 15 miles to the west and Junction 3 of the M180 motorway is circa 18 miles to the north. Gainsborough Central Railway Station is located 0.3 miles from the property, within easy walking distance, and provides links to the wider rail network.

Gainsborough itself provides a range of local amenities including schools, local and national retailers, supermarkets and public houses.

Accommodation

Internally the accommodation is configured to provide 5 x one bedroom apartments, a two bedroom duplex and an office suite.
Each of the apartments benefit from modern and good quality fitted kitchens and bathrooms and provide a number of original features including exposed beams.

The office suite is accessed to the ground floor and comprises an open plan office, two meeting rooms and a kitchenette.

A breakdown of the accommodation is provided within schedule within the downloadable brochure available from the auctioneers main website.

Tenancies

4 of the 6 apartments are currently let, together with the office suite at a current annual equivalent rent of £26,700 with the potential to rise to £37,200 if the two vacant flats were let at the same rent they were previously let at (Apartment 1 at £450 pcm & Apartment 7 at £425 pcm).

Please refer to the accommodation schedule within the downloadable brochure available from the auctioneers main website.

Buyers Administration Fee

There will be a Buyer's Administration Fee of £2400 (inc VAT) payable upon exchange of contracts.

Tenure

Freehold.

Outside

Courtyard/car parking area with space for approximately 11 cars.

The site area is approximately 0.08 Hectare (0.22 Acre).
Photo of James Ashworth

James Ashworth

07928 583229
Photo of Heather Twiss

Heather Twiss

0161 967 0122

Solicitor

Natalie Bromley
Addleshaw Goddard
+44 (0)161 934 6445
natalie.bromley@addleshawgoddard.com
Lot 1
£350,000 - £375,000 Guide Price (plus fees)
0161 967 0122
Manchester
0151 242 6754
Liverpool
0207 692 1930
London
Landwood Property Auctions is a trading name of LWA Manchester Limited a company registered in the United Kingdom under company number: 10855915. Registered Office: South Central 11 Peter Street Manchester M2 5QR. A list of directors is available at the registered office. VAT Reg Number: 277177173