Lot 103 - SUBSTANTIAL FREEHOLD RETAIL AND RESIDENTIAL INVESTMENT

Sold £595,000

Currently let at £42,720 per annum (with potential for rental increases)

A substantial three storey property plus basement, having been in the same ownership for many years, and arranged as a large ground floor retail unit, together with four self-contained flats above, all of which are let.

Ground Floor

Retail Unit

A large double-fronted shop which is open plan, together with staff room, kitchen, W.C.

There is a delivery yard to the rear with steps down to the basement storage area.

Ground floor retail area internal width 13.7m (4410) x depth 7.6m (25). EPC rating D.

Tenancy

Let on the terms of a commercial lease for a term of 10 years from 8th October 2021 at a current rental of £18,000 per annum.

First & Second Floors

Residential

Arranged as four self-contained flats, each one provides a living room, kitchen, bedroom and bathroom with W.C.

Tenancies

Each flat is let on an Assured Shorthold Tenancy Agreement. Flat 2a is let at £525 per calendar month. Flat 2b is let at £565 per calendar month. Flat 3a is let at £495 per calendar month. Flat 3b is let at £475 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/