Lot 114 - SUBSTANTIAL COMMERCIAL INVESTMENT

Sold £750,000

Currently let at £100,488.78 per annum

A high yielding commercial investment opportunity situated within a well-established industrial park close to the Silver Hill area of St Leonards-on-Sea with excellent vehicular access to Hastings Town Centre and surrounding area via the A21 London Road.

Extending to over 3,200 sq.m (34,444 sq.ft.) the property has been divided into multiple letting units of variable size and is producing a rental income in excess of £130,000 per annum with many of units paying an additional fixed annual service charge.

Ideal for immediate investment the property combines a multitude of businesses including, offices, workshops and studio space over five floors. In addition to the internal accommodation the property offers off-road parking to the front and vehicular access from both Menzies Road and Drury Lane to the rear.

EPC Rating

EPC Rating D (87) 3,254 sq.m.

Accommodation

Arrange over five floors with staircase access. The units are predominantly open plan with communal W.Cs located on each floor. Floor plans are available within the legal pack which can be downloaded from the Clive Emson website.

Auctioneer's note

At the time of publication, the Auctioneers have been unable to internally inspect the property. These details have been provided by our Joint Agent and interested applicants should reply on their own investigations to verify the information provided.

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/