Lot 3 Freehold Commercial Investment With Residential Conversion PotentialAuction Date:
12th June 2024
57 London Road, Cowplain, Hampshire, PO8 8UJ
Key Features
Situated on the main thoroughfare through Cowplain, this detached property is believed to have started life as a Mission Hall until undergoing conversion as a commercial building.
The building is arranged as three component parts, comprising the main commercial element on the ground floor to the front which is let under the terms of a commercial lease. On the ground floor to the rear is a smaller commercial unit which is vacant, while on the first floor there is an independently accessed office suite. It is considered this first floor space offers scope and potential for residential conversion, subject to all necessary consents being obtainable.
Ground Floor
57A London Road
Commercial unit to front with main retail area, small staff kitchen/rest area and cloakroom with W.C. to rear.
Tenancy
Let under the terms of a six- years commercial lease from 1st March 2023 at a current rental of £12,000 per annum.
57C London Road (Vacant)
Commercial unit to rear, previously let at £7,400 per annum. Main retail/trading space and staff cloakroom with W.C.
First Floor
57B London Road (Vacant)
Office suite accessed via an external staircase, comprising flexible office staff accommodation, staff kitchen, and cloakroom with W.C.
Outside
Although there is no parking with the property, the Local Authority controlled Mission Lane car park is approximately 50 metres away to the rear of the property.
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
