Lot 47 Freehold Town Centre Commercial InvestmentAuction Date:
22nd March 2023
Coffee 1, 74 High Street, Gosport, Hampshire, PO12 1DR
Currently let at £25,000 per annum
Let to a well known High Street coffee retailer this landmark building occupies a prime location at the mouth of Gosport High Street overlooking the bus station, Ferry Gardens and ferry terminal with its connections to Portsmouth.
The ground floor commercial space is producing a very worthwhile income which is considered ideal for addition to an income-producing property portfolio. The upper parts to the building have been sold off under the terms of a long lease.
Auctioneer’s Note
Section 5B Notices in respect of the upper floors are not required in this instance as the upper floors were sold on a single lease and the Head Lessee has since created individual leases beneath the Head Leasehold interest to provide individual leases for the six residential flats created.
Ground Floor
Large open plan trading area with store rooms and ladies and gents cloakrooms.
Tenancy
Let under the terms of 20-year commercial lease expiring 1st September 2034 at a current rental of £25,000 per annum.
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
