4 BED Cottage For sale

Canal Bank, Loughborough


4 2

Enquire about this property
01789 387887

Property details

For Sale by Public Auction

An outstanding investment or development opportunity (subject to planning permission). Within the Title, there are two residential cottages and a commercial unit. The properties sit in an established plot adjacent to the Grand Union Canal and extend to 0.303 acres (0.123 hectares)

The site itself lies within close proximity to the centre of Loughborough and both cottages have previously been let on Assured Shorthold Tenancies at respective rents of £600.00 and £570.00 per calendar month. The garage premises has achieved an additional rent of £540.00 per month giving the gross estimated rental yield of £1,710 pcmx. Vacant possession will be offered on completion. The site lies within an area allocated for employment in the current Local Plan. The site provides a development opportunity subject to obtaining the appropriate Planning Permission.

58 Canal Bank
Ground floor: Living room, dining room and a fitted kitchen.
First floor: Two bedrooms and a family bathroom.
Outside: Foregarden with carport

59 Canal Bank
Ground floor: Cloakroom with WC, bedroom/study, L-shaped lounge/dining room, rear hallway and fitted kitchen.
First floor: Two bedrooms and a shower room.
Outside: Foregarden with low maintenance rear yard.

Commercial Garage Premises
To the rear of the site is a vehicle repair workshop with an adjoining office and an open-fronted storage area and ample external parking. The premises have the following gross internal floor areas:

Workshop 96.2 sq. m. (1,035 sq. ft.)
Open-fronted store 92.5 sq. m. (996 sq. ft.)
Office 21.2 sq. m. (229 sq. ft.)
Small Kitchen and W.C.
There is a further detached workshop/store with a floor area of 31.4 sq. m. (338 sq. ft.).
The rateable value is £6,700.

Auction Details:
Sheldon Bosley Knight Land and Property Auction
Wednesday 17th April at 6.00 pm
Hinckley Golf Club

Auction Terms

The property will unless previously withdrawn, be sold subject to the Special and General Conditions of Sale, which have been settled by the Vendor’s Solicitor and are contained within the Auction Legal Pack. This pack is available to download to registered bidders. The conditions may also be inspected in the Sale Room at the time of the sale but they will not then be read. The purchaser shall be deemed to bid on those terms whether he shall have inspected the Conditions or not.

The sale of this property will take place on the stated date by way of a live, in-room auction and is being sold as Unconditional with a Fixed Fee. Some sellers may consider a pre-auction offer, and the Lot may be sold or withdrawn before the auction.

Binding contracts of sale will be exchanged at the point of sale.

Auction Deposit and Fees

The following deposits and non-refundable auctioneer’s fee apply:

• 10% deposit (subject to a minimum of £5,000)
• Buyer’s Premium of £1320 inc. VAT

There may be additional costs listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. These additional costs will be payable to the seller’s solicitor on Completion. You must read the Legal Pack carefully before bidding.

Guide Price & Reserve Price

The guide price offers an indication of the price below which the vendor is not willing to sell. It is not necessarily the exact final sale price and is subject to change prior to and up until the day of the auction. Any change in the guide price will reflect a change in the reserve (a figure below which the auctioneer will not be able to sell). The reserve can be expected to be set within the guide range or not more than 10% above a single-figure guide. (RICS Common Auction Conditions 4th Edition).


Plans shown are for identification purposes only.


THe agent understands that mains services are connected to the property


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Tenure and Possession

The property and land are freehold. Vacant possession will be given upon completion which is normally 20 working days after the auction. Please refer to the Legal Pack for further details.

Bidder Registration and Auction Legal Pack

If you would like to register to bid, please head to the following link: passport.eigroup.co.uk/bidder-registration/sheldon-bosley-knight/

You can opt to bid in person, online, by telephone or by proxy. You will also be able to download the Auction Legal Pack for the Lot you are interested in here: auctioneertemplates.eigroup.co.uk/guides.aspx?a=1236&c=sbk

The Auction Passport requires you to input the details of your solicitor. If you would like to use our own preferred solicitors, please let us know and I will arrange for a quote to be sent to you.

If this is the first time you have accessed Auction Passport, just press the green button on the left-hand side ‘Click here to sign up for free' to create a new account. Following your initial registration, you will receive an SMS from LexisNexis, a company we use to verify ID and conduct an anti-money laundering check. Please click on the link within the SMS and follow the instructions to complete the check.

Legal Documents & Additional Costs

It is essential bidders check the legal documents prior to bidding and take professional advice. Special Conditions of Sale can contain additional costs (that is costs over and above the price the lot is ‘knocked down’ at) and bidders are deemed to be aware of any additional costs prior to bidding.


All viewings are by appointment only through the Auction Department

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