Lot 95 - FREEHOLD BLOCK COMPRISING THREE LOCK-UP SHOPS

Postponed

Situated on the High Street, a short distance from Shanklin Theatre, this freehold row of three lock-up shops occupies a prominent trading position. Although previously arranged as three lock-up units, 52 and 52A which are at present vacant have been inter-connected by a previous tenant to provide a larger single trading unit but could revert to separate smaller lock-ups if required, subject to all required consents being obtainable. The third unit 52B is at present let under the terms of a commercial lease and trading as a barber shop.

52/52A High Street

Each unit has a main sales/trading areas and a staff cloakroom/W.C.

52B High Street

Main trading area and staff cloakroom with W.C.

Tenancy

Believed to be let under the terms of a commercial lease for a term of three years from 1st November 2022 at a current rental of £4,800 per annum. Confirmation of the lease terms will be included in the legal pack.

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/