Commercial Property
To the ground floor there is a well established Caribbean take-a-way/eat-in restaurant on a new 5 year lease from May 2017 producing £8,100 p.a. Above there are 2 x 1 bed flats and 1 x 2 bed flat all let on assured shorthold tenancy agreements producing a combined income of £11,580 per annum. In our opinion, part of the take-a-away could be converted into further residential usage if necessary and existing tenancy agreements all offer scope for rental increase and could produce in excess of £20,000.
The retail premises along with the upper floor accommodation are located in a good secondary trading position and would surely appeal to investors and landlords.
Double fronted with entrance door, counter with dining area, kitchen, passageway with shower room and separate wc. We feel part of the café could be converted into further residential usage (subject to the usual building regulations).
There is a separate ground floor access leading to the first floor flats.
Comprises entrance hall with lounge, passaged landing, shower room, fitted kitchen. Flat two produces a yearly income of £3,600.
Comprises entrance hall with bedroom, fitted shower room, lounge and fitted kitchen. Flat four produces a yearly income of £4,800.
Having entrance with staircase leading to the accommodation comprising cloaks, bedroom, shower room, open plan kitchen and lounge, further bedroom. Flat three produces a yearly income of £3,900.
As previously mentioned in our opinion part of the shop would allow itself for further conversion into residential flats and also offers scope for rental increases that could produce in the region of £20,000 to £23,000 per annum.
Freehold. Subject to tenancy.
Auction Details:
The sale of this property will take place on the stated date by way of Auction Event and is being sold as Unconditional with Fixed Fee.
Binding contracts of sale will be exchanged at the point of sale.
All sales are subject to SDL Property Auctions’ Buyers Terms. Properties located in Scotland will be subject to applicable Scottish law.
Auction Deposit and Fees:
The following deposits and non- refundable auctioneer’s fee apply:
• 10% deposit (subject to a minimum of £5,000)
• Buyer’s Fee of £1,500 inc. VAT
The Buyer’s Fee does not contribute to the purchase price, however it will be taken into account when calculating the Stamp Duty Land Tax for the property (known as Land and Buildings Transaction Tax for properties located in Scotland), because it forms part of the chargeable consideration for the property.
There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.
Additional Information:
For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions’ home page.
This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack (and any applicable Home Report for residential Scottish properties).
Guide Price & Reserve
Each property sold is subject to a Reserve Price. The Reserve Price will be within + or – 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.
