Lot 47

FREEHOLD INVESTMENT

The Key, Market Place, Ilminster, Somerset, TA19 0AQ
The Key, Market Place, Ilminster, Somerset, TA19 0AQ
JULY AUCTION

Currently let at £14,080 per annum

An attractive end terrace building situated in the heart of Ilminster town centre with nearby retailers including Boots Pharmacy, Co-operative Food Store and Natwest Bank. Arranged over three floors the property comprises a ground floor retail shop with four flats occupying the first and second floors. Each flat is subject to a 999 year lease at a ground rent of £20 per annum whilst the retail shop is subject a ten year commercial lease.

Ground Floor Shop

Retail area, stock room, kitchenette and cloakroom with W.C.

Outside

Small courtyard to rear.

Tenancy

Subject to a ten year commercial lease from 8th October 2014 at a current rental of £14,000 per annum.

Auctioneer's Note

Section 5(b) Notices under the Landlord & Tenant Act 1987 (as amended) have been served and the leaseholders have not reserved their rights under this legislation.

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/