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



Auction Method: The auction for this property will take place as an “Auction Event” behind closed doors with a live auctioneer and will be streamed online in real-time. The property will be sold alongside several other lots. Bids must be placed remotely- please see the below section on “Registration Process”. The auction can be watched in real-time on the auction date on our home page: The auction date applicable for the property is displayed on this page. It is not possible to provide a precise timeslot when this property will be auctioned on the day, because there are other lots being sold. You are required to undertake identity checks before you can be authorised to bid. You must also provide your payment details. If you do not provide this information, your registration will not be processed. When you place your bid, you are deemed to have agreed to SDL Property Auctions’ Buyers Terms (England & Wales). Auction Type - Unconditional with Variable Fee If you are the highest bidder, you must exchange legally binding contracts for the sale when the auction for the property comes to an end. You must then pay the applicable fees and deposit. You must complete the sale within 15 business days unless the Special Conditions of Sale contained within the Legal Pack state otherwise. Auction Fees The following non-refundable fees apply:
  • Buyer’s Fee- payable on exchange of contracts. This is calculated as a percentage of the actual purchase price of the property. Either:
(a) 4.8% (including VAT) of the purchase price, for properties up to and including £250,000 (b) 3.6% (including VAT) of the purchase price for properties sold for over £250,000 The Buyer’s Fee is subject always to a minimum of £6,000 (including VAT). The Buyer’s Fee does not contribute to the purchase price. 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 Special Conditions carefully before bidding. Any additional fees are included at the seller’s discretion, not on the instruction of SDL Property Auctions, and will be in addition to any fees payable to us. SDL Property Auctions has limited control over the content of the Special Conditions of Sale. Deposit On exchange of contracts, you must pay a non-refundable deposit equal to 5% of the actual purchase price of the property, subject to a minimum of £5,000. The deposit contributes towards the purchase price. Payment Method: Applicable fees/deposit must be paid immediately after a winning bid has been placed. We do not accept payment by cash or cheque. Prior to the auction, we will email you to register your card details with our third-party provider, Stripe. Your card details will be stored on their secure online payment platform. Payment will only be taken from you in the event of a winning bid. In this case, you will be contacted by one of our representatives to make payment. If we cannot make contact with you within 24 hours after the auction ends, we reserve the right to charge your card if you do not respond to this email. Legal Pack Before bidding, you must view the legal pack for the property. This is the collection of legal documents that apply to the sale. The documents will include but are not limited to: Special Conditions of Sale, title documents from the Land Registry and Energy Performance Certificate. The legal pack can be viewed against the property details, where there is a sub-heading “Legal Packs”. Follow this link, and you will then be directed to create an account with Auction Passport to view the documents. The legal pack can change at any time up until the auction starts so you must check for the most recent version of the legal pack. An addendum may be issued outlining any late changes. At the point of placing your bid, you are deemed to have read the legal pack in its entirety, including any changes. Failure to check for changes to the legal pack will not be a valid reason for withdrawing from the sale. It is strongly recommended that you instruct a qualified professional to review the legal pack and raise any necessary enquiries before bidding. Special Conditions of Sale The property is sold subject to any Special Conditions of Sale. These are contractual conditions that are included by the seller of the property - they are not part of SDL Property Auctions’ terms and conditions. The Special Conditions of Sale are legally binding. You are taken to have read and accepted these at the point of bidding, even if you have not done so. The Special Conditions of Sale are available to read in the legal pack. Energy Performance Certificate The EPC for this property can be viewed in full at the top of this page or in the legal pack. Registration Process: To register to bid on the property, you must submit your remote bid here: There is also a link to register on the property details page, where you will also be able to find the lot number for the property. Prospective buyers must register no later than 12pm the day before the auction date. If you register after the cut off, it cannot be guaranteed that your registration will be processed. 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.