Lot 50 - FREEHOLD RETAIL INVESTMENT WITH GROUND RENT INCOME SITUATED IN TOWN CENTRE

Sold £240,000

Currently let at £17,300 per annum

A modern purpose built property extending over three floors situated just off the busy high street in the town centre. There is a public Pay an Display car park immediately joining the property. The ground floor is arranged as a pair of shops each leton a commercial lease and the upper parts are arranged as six self-contained flats, which have been sold in their entirety to a Housing Association, on a single Ground Lease for a term of 99 years, from 28th March 1991, at a current ground rent of £300 per annum.

1 James Street is let on a commercial lease for a term of 10 years, from 20th June 2017, at a current rent of £8,500 per annum and 1A James Street is let on a commercial lease for a term of five years from, 29th September 2021, at a current rent of £8,500 per annum. There are six allocated car parking spaces at the rear of the block.

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/