Lot 86 Freehold Investment In Town Centre LocationAuction Date:
16th June 2022
1-3 New Road & Golding Flats, Callington, Cornwall, PL17 7BE
Currently let at £67,800 per annum plus vacant commercial unit
Recently fully let at £74,400 per annum
Being sold only due to retirement, this substantial mixed use property is situated in a prominent location within the heart of Callington town centre, close to a range of retailers including Spar convenience store & post office, Lloyds Bank and Lloyds Pharmacy.
Arranged as three ground floor commercial units with eight self-contained flats occupying the upper two floors, the property is considered suitable for continued use as a high value letting investment with none of the tenants having a history of arrears. Alternatively, individuals may wish to consider individual resale of the units back into the local market.
1 New Road
Ground Floor
Two offices, kitchen, store and cloakroom with W.C.
Tenancy
Let to Bradleys Estate Agents on a five-year commercial lease from 4th May 2022 at a current rental of £16,500 per annum with no break clause provision. The tenant has recently signed a new lease, having been in occupation for over 20 years.
2 New Road
Ground Floor
Shop floor, rear office, two stock rooms and shower room with W.C.
Tenancy
Currently vacant - negotiations are currently taking place with a number of potential tenants. Any updates in this regard will be included within the legal documentation.
3 New Road
Shop floor with counter area, tanning room, two treatment rooms, kitchen and cloakroom with W.C.
Tenancy
Subject to a five-year commercial lease from 9th May 2022 at a current rental of £5,400 per annum.
Golding Flats
Ground Floor
Communal entrance to front.
First Floor
Communal landing.
Flat One
Entrance hall, living room, kitchen, two bedrooms and bathroom with W.C.
Tenancy
Let on an Assured Shorthold Tenancy Agreement at a current rental of £500 per calendar month. The existing tenant has been in occupation for over 7 years.
Flat Two
Living room/kitchen, bedroom and shower room with W.C.
Tenancy
Let on an Assured Shorthold Tenancy Agreement at a current rental of £475 per calendar month.
Flat Three
Entrance hall, living room, kitchen, bedroom and bathroom with W.C.
Tenancy
Let on an Assured Shorthold Tenancy Agreement at a current rental of £475 per calendar month.
Flat Four
Entrance hall, living room, kitchen, bedroom and bathroom with W.C.
Tenancy
Let on an Assured Shorthold Tenancy Agreement at a current rental of £450 per calendar month. The existing tenant has been in occupation for over 3 years.
Second Floor
Communal landing and caretakers store.
Flat Five
Entrance hall, living room, kitchen, two bedrooms and bathroom with W.C.
Tenancy
Let on an Assured Shorthold Tenancy Agreement at a current rental of £550 per calendar month.
Flat Six
Kitchen/living room, bedroom and shower room with W.C.
Tenancy
Let on an Assured Shorthold Tenancy Agreement at a current rental of £450 per calendar month.
Flat Seven
Entrance hall, living room, kitchen, bedroom and bathroom with W.C.
Tenancy
Let on an Assured Shorthold Tenancy Agreement at a current rental of £450 per calendar month. The existing tenant has been in occupation for over 5 years.
Flat Eight
Entrance hall, living room, kitchen, bedroom and bathroom with W.C.
Tenancy
Let on an Assured Shorthold Tenancy Agreement at a current rental of £475 per calendar month.
Council Tax Bands
All flats are Band A.
Auctioneer's Note 1
At the time of publication the Auctioneers have been unable to inspect the whole of the property and interested applicants are advised to make their own enquiries to verify the information provided.
Auctioneer's Note 2
The Auctioneers have been informed by the Seller that, within the last five years, each of the flats has undergone a programme of refurbishment and the building has received a new roof. The exterior of the building has been maintained through professional cleaning and repainting.
Auctioneers Note 3
A selection of internal photos of the flats will be available for inspection within the legal documentation available to download from the Clive Emson website.
Viewing
Strictly by prior arrangement with the Auctioneers. Interested applicants are requested not to contact the tenants direct.
Freehold with Part Vacant Possession
There is an addendum available to be read
in conjunction with the legal documentation.
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 Buyers Fees
