Retail Property (High Street)
The property comprises an end of terrace storey retail unit, being of stone construction under a pitched roof, with a retail area at ground floor level and including internal access via a wooden staircase to a first floor office/store and WC. The access point and display window to front elevation are secured via electrically operated roller shutters.
The property benefits from consent to erect advertising hoardings to the gable end wall.
We understand the property is held freehold, but that a new 6 month lease has recently been granted at a rental of £65 per week (£3,380 pa, pro-rata).
The property further benefits from consent for 4 advertising hoardings to the gable end wall, with one agreement currently producing £500 per annum by way of a verbal agreement.
We have not had sight of any legal documentation relating to the premises but further information will be provided within the legal pack.
The property has frontage to Newchurch Road (the A681), in an area with mixed commercial and residential occupiers. The town centre of Bacup is approximately 1.5 miles to the northeast.
All interested parties should seek their own verification by referring to the legal pack.
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.
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