Lot 5 Nine Lock-up Stores On A Plot Of 0.40 AcresAuction Date:
21st September 2022
Land & Garages North Of (Rear 233-267) Hawthorn Crescent, Cosham, Portsmouth, PO6 2TL
Currently let at £10,080 per annum - plus two vacant stores
Situated in a popular residential district at Cosham between the rear of the odd numbered houses on Hawthorn Crescent and the mainline railway, this freehold site measures 0.16 hectares (0.40 acres).
The site is at present occupied by nine large garage/stores, seven of which are let under the terms of short term licence agreements with two further units vacant. There is scope for the new owner to offer some or all of the existing tenants new longer term agreements if required, or of course the scope for some or all of the units to be used by a new owner at the end of the existing licence agreements. Alternatively, prospective purchasers may wish to consider other uses for the site, subject to all necessary consents being obtainable.
Local Planning Authority
Portsmouth City Council. Tel: 023 9283 4334. Website: portsmouth.gov.uk.
Tenancy
Garages 1, 2 ,3, 4, 6, 7 & 8 are all let under the terms of 12-month licence agreements at a rental of £120 per calendar month from 1st August 2022. Units 5 & 9 are, at present vacant.
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
