Lot 147 - FREEHOLD COMMERCIAL INVESTMENT - DEVELOPMENT POTENTIAL

Sold £185,000

An attractive building occupying a prime High Street position. The shop is let to a longstanding commercial tenant who operates a fishmongers. To the rear on the ground floor are former public conveniences (now closed). The first floor is vacant having last been in use as an office.

Occupying a plot of 0.03 hectares (0.09 acres) there may be scope and potential for additional development to the rear of the building, subject to all necessary consents being obtainable.

Local Planning Authority

Isle of Wight Council. Tel: 01983 823552. Website: iow.gov.uk.

Ground Floor Shop

Main retail area, rear store room, staff kitchen and cloakroom.

Tenancy

Let under the terms of a 10 year commercial lease, from 7th January 2019, at a current rental of £6,500 per annum.

Remaining Ground Floor

Former public conveniences and outbuildings.

First Floor

Entrance lobby, open-plan hall and cloakroom with W.C.

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 Auction Day.

* Price Information

Guides are provided as an indication of each Seller’s minimum expectation. They are not necessarily figures at which a property will sell for and may change at any time prior to Auction. Unless stated otherwise, each Lot will be offered subject to a reserve (a figure below which the Auctioneer cannot sell the Lot during the Auction).

We expect the reserve will be set within the guide range or no more than 10% above a single figure guide. Please check our website regularly at cliveemson.co.uk, or contact us on 01622 608400, in order to stay fully informed with the up-to-date information.

Additional Fees

An Administration fee and Other non-optional fees may also be payable in addition to the bid price. All lots are offered subject to the Common Auction Conditions and Special Conditions of Sale or Revised Special Conditions of Sale (as applicable) and may include the repayment of search and other fees and or costs payable by the buyer.

All buyers are advised to inspect all available legal documentation prior to bidding and will be deemed to fully understand what they may be liable for if they are successful in purchasing. This should also include Stamp Duty, Land Registry fees and VAT which may become payable on completion in line with any property transaction, whether it is by auction or private treaty. If, as a buyer, you are in doubt you should seek advice from your own professional advisors. For more information on fees please go to cliveemson.co.uk/buyers-fees/