Commercial Property in Chesterfield

20 Cavendish Street, Chesterfield S40 1UY
  • Lot No: 113
  • Property Type: Commercial Property
  • Contract Type: Unconditional with Variable Fee

Guide Price* £270,000+ plus fees

Result Sold Prior to Auction

Property Description

DRAFT DETAILS A leasehold former cinema/nightclub extending over 33,200 sq.ft offered with part let/ part vacant possession located within a prime shopping district of Chesterfield town centre currently producing £35,000 per annum part let. The building comprises a former Cinema and Nightclub which has also had retail to the ground floor in the past. The building extends to approximately 33,210 sq.ft over three levels and is of an Art Deco design with concrete and brick elevations. We feel the building would lend itself well to being redeveloped into a variety of schemes, perhaps a mixed use commercial residential and office. This would be subject to applying and receiving planning consent and obtaining vacant possession. We have been advised that the property is subject to an existing tenancy to Boyes Stores who currently pay £35,000 per annum and occupy approximately 10,000 sq.ft. We have been advised this was reduced from a full market rental of £75,000 per annum with the lease due to expire on 10.6.2024. We advise interested parties inspect the legal pack for more information. The building is located in the heart of Chesterfield town centre, Cavendish Street occupying a prominent position close to the principal retail offers of The Pavements, Vicar Lane, The Shambles and the Medieval Quarter of Chesterfield. The building is located within close proximity to Chesterfield Train Station approximately 0.4 miles away, with regular services to London, Birmingham, Sheffield and Manchester. The town boasts excellent transport links, located close to Junction 29 of the M1 and the A61 dual carriageway. This property is long leasehold with the freehold vested in Chesterfield Borough Council. The consent of the Council is required for any sale. Buyers are to note that the sale will be conditional on that consent being provided.

Leasehold Information

Length of Lease: 125 years from 14.6.2004 Rent: See Legal Pack Ground rent review period: TBC Current service charge: TBC Service charge review period: TBC


Tenure

Leasehold

Auction Details: The sale of this property will take place on the stated date by way of Auction Event and is being sold as Unconditional with Variable Fee (England and Wales). Binding contracts of sale will be exchanged at the point of sale. All sales are subject to SDL Property Auctions’ Buyers Terms. Properties located in Scotland will be subject to applicable Scottish law. Auction Deposit and Fees: The following deposits and non- refundable auctioneer’s fees apply:
  • 5% deposit (subject to a minimum of £5,000)
  • Buyer’s Fee of 4.8% of the purchase price for properties sold for up to £250,000, or 3.6% of the purchase price for properties sold for over £250,000 (in all cases, subject to a minimum of £6,000 inc. VAT). For worked examples please refer to the Auction Conduct Guide.
The Buyer’s Fee does not contribute to the purchase price, however it will be taken into account when calculating the Stamp Duty Land Tax for the property (known as Land and Buildings Transaction Tax for properties located in Scotland), because it forms part of the chargeable consideration for the property. 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 all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions’ home page. This guide includes details on the auction 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.

Auction Details

Date 30th June 2022

Venue National Property Auction
The National Property Auction will be conducted behind closed doors. The auction will be live-streamed online with remote bidding only. Registration for bidding will close at 12pm the day before the auction.

Lot Information

Contact Us

If you have any questions, call our team on 0800 046 5454

Map

20 Cavendish Street, Chesterfield S40 1UY