Mixed Use
A double fronted town centre, ground floor retail premises with
a pair of converted and surprisingly spacious first and second floor flats. The property is situated within a prominent business and shopping area with plenty of passing footfall. Currently the retail ground floor premises is let by way of an assured short hold tenancy to a telephone repair shop producing an annual income of approximately £6,500 per annum. This large commercial property benefits from two large display windows and shop front with an office, kitchen and W.C. facilities behind. The flats are both let producing an annual income of approximately £8,400 Both flats comprise of two bedrooms, kitchen, living area and bathroom and are independently accessed to the side of the building and benefit from UPVC double glazing and gas central heating. The sale provides a prime opportunity for a local landlord to purchase a ready made investment producing a strong rental yield in excess of 10% (if bought at our last quoted guide price).
The auctioneers have not inspected the property internally at the time of catalogue publication and the accommodation details have been provided by the vendors agent.
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.
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