Commercial Property
The property comprises a ground floor and basement retail unit, large garage and six bed-sits located over the first and second floors and which benefit from a communal kitchen, living room, bathroom and shower room. There is also a large garage with access from the basement level. All six rooms are let along with the retail unit and only the garage facility is vacant.
Room 1 £4,420
Room 2 £4,420
Room 3 £3,900
Room 4 £3,900
Room 5 £3,900
Room 6 £4,420
Retail Unit £6,000
Garage Vacant
Total Rental Income £30,960
The seller pays council tax, water, electric and insurance on the property.
The property is located at the top of Northumberland Road. This is a mixed use location north of Scotsworth Road and 4 miles west of Newcastle City centre.
Freehold. Part let/part vacant.
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.
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