Lot 135 Freehold Block Of 36 Garages Currently Let At £25,380 Per AnnumAuction Date:
24th July 2024
Garages Adjacent 1A Lypiatt Mead, Corsham, Wiltshire, SN13 9JL
Currently let at £25,380 per annum
This freehold site is within the historic market town of Corsham, close to Bath, Chippenham and Melksham. The site extends to 0.16 hectares (0.39 acres) and is occupied by 36 garages. There is a large forecourt which has potential to accommodate additional storage subject to all necessary consents being obtainable. Vehicular entrance to the site is controlled by a locked gate. The garages are all let under the terms of a Licence Agreement producing a good income. It is considered there may be scope and potential to increase the rents, by bringing them more in line with market rates, to further enhance the income.
Tenancies
Nine garages currently let on licence agreements at £50 per calendar month; Fifteen garages currently let on licence agreements at £55 per calendar month; Eleven garages currently let on licence agreements at £65 per calendar month. One garage has recently been let on a licence agreement at £75 per calendar month, starting June 2024. Two neighbouring properties pay £25 per calendar month each to access the rear of their property using the garage forecourt. This is also under a licence agreement.
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
