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Off to the auction to grab a takeaway

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NOTTINGHAM-based chartered surveyor and auctioneer Heb has released its latest auction catalogue, which includes a number of commercial lots.

The firm reports strong interest in auctions, with 93 per cent of lots offered in its February sale having been sold.

On behalf of receivers, Heb has been instructed to sell a property in Victoria Street, Newark, which comprises a fully-let A5 takeaway with owner's accommodation above, being let on a 20-year lease at an annual rent of £17,000.

It incudes a former coach house, which has been refurbished to a high standard as a two-bedroom, self-contained house.

The property is to be sold with vacant possession and has a guide price of £200,000- £225,000. Heb says strong interest is expected.

Also coming under the hammer is the former Crown pub, in North Muskham, which is being sold with vacant possession.

The vendor has submitted a planning application for a five-bedroom detached house and a three-bedroom bungalow on the site but, with consent not expected before the auction, the property is being offered with a guide price of £150,000.

Heb will also be offering a two-storey office building in Westfield Lane, Mansfield, with planning consent for change of use into two houses and two flats, with an extension to the existing property.

It will be offered with vacant possession at a guide price of £100,000.

Auctioneer Matt Hilton said: "The popularity of auctions continues to grow. It is clear from our last auction and the auctions towards the end of 2012 there is starting to be an improvement in the market, particularly for the lower- priced properties, and we expect a strong turn out at our next auction".

The sale is at Nottingham Gateway Hotel on April 17 from 2.30pm.


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