Lot 5 Freehold Town Centre InvestmentAuction Date:
4th May 2023
22 Market Street, Alton, Hampshire, GU34 1HA
Currently partially let at £9,000 per annum - Previously fully let at £24,000 per annum
Situated adjacent to the Market Square and Alton Town Council's headquarters, this freehold building is arranged as two income-producing commercial units on the ground floor, while a flat on the upper floor has been sold off under the terms of a long lease.
The front section of the ground floor enjoys a return frontage of window display with the last commercial tenant having recently vacated and, at present, the space is let to the local food bank under the terms of a licence agreement offering scope and potential for the new owner to secure a new commercial tenant as required. The rear portion of the ground floor is let to a beautician under the terms of a commercial lease, with the two parts of the commercial space producing an annual income of £24,000 when last fully let.
Commercial
Ground Floor - Front
Main shop/trading area, store/staff rest room with basic kitchen facilities and cloakroom with W.C., and access to:-
Cellar
Providing useful additional storage.
Tenancy
At present let under the terms of a Licence Agreement to a local food bank. Further information will be contained in the legal documentation which will be available to download from the Clive Emson website.
[Ground Floor †Rear]
Not inspected by the Auctioneers at the time of press but believed to comprise main treatment areas with supporting staff facilities, including cloakroom with W.C.
Tenancy
Currently let under the terms of a Commercial Lease for a term of 6 years from 9th September 2022 at a current rental of £750 per calendar month.
22A Market Street - First Floor
Tenure
A residential apartment sold under the terms of a 125-year lease from 1st April 2014.
There is an addendum available to be read
in conjunction with the legal documentation.
Joint Agents
Glanfield Holmlund
01420 544117
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
