VACANT COMMERCIAL PREMISES WITH GROUND RENT INVESTMENT
Currently Let At: £400 Per Annum
Plus Vacant Ground Floor Shop
A four storey property, plus basement, arranged as a vacant ground floor shop together with five flats, which have all been sold on long leases. The property is situated close to the seafront in the main shopping thoroughfare of Cliftonville. The ground floor and part basement have previously been used as coffee bar and are now in need of improvement, but considered suitable for future rental.
Commercial Ground floor former coffee bar arranged as two rooms and part basement arranged as kitchen, store and W.C.
Flats The flats have each been sold on a 99 year lease from 25th December 1988 at a current ground rental of £80 per annum. The leases provide for the freeholder to arrange for the insurance, management and maintenance of the building and recover the costs from the leaseholders by way of a service charge.
Auctioneer's Note Section 5(b) Notices under the Landlord & Tenant Act 1987 (amended) have been served and the leaseholders have not reserved their rights under the legislation.
Freehold with Part Vacant Possession
Commercial EPC: G
IMPORTANT: All lots are sold subject to the Common Auction Conditions and Special Conditions of Sale (unless varied by the Sellers Solicitors), together with the Addendum, which will be available on the Auction Day.