Lot 49 - FREEHOLD MIXED INVESTMENT - Clive Emson Auctioneers

Sold £545,000

Currently let at £46,800 per annum

This substantial property occupies a prominent position near the corner of Cobden Avenue and Manor Farm Road. The building comprises four flats and a retail unit, all of the units are currently let and between them produce a sizeable income.

The property also has vehicular access to the side with a car park to the rear.

Commercial

5 Manor Farm Road

Currently trading as a Tattoo Parlour who are in occupation under the terms of a commercial lease until 31st October 2024 at a current rental of £12,000 per annum.

Residential

Flats 5A & 5B both comprise:-

Ground Floor

Entrance hall

First Floor

Living room, kitchen, bedroom, bathroom

Second floor

Two bedrooms

Tenancies

Both flats are let under the terms of Assured Shorthold Tenancy Agreements, with Flat 5A let at a current rental of £725 per calendar month and Flat 5B let at a current rental of £700 per calendar month.

Flats 5C & 5D

Both comprise:-

Ground Floor

Kitchen/living room

First Floor

Two bedrooms and bathroom

Tenancies

Both flats are occupied under the terms of Assured Shorthold Tenancy Agreements, with Flat 5C let at a rental of £725 per calendar month and Flat 5D is let at a rental of £750 per calendar month.

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/