Commercial Property
The property comprises a prominent three storey mid terraced building of brick construction with a tiled roof. It is configured to provide on the ground floor a modern Greggs retail unit with main retail area, trade counter, food preparation area, store, staff room and WC. Extending to approximately 972 sq.ft. (90.30 sq.m.).
On the upper floors there are two flats, No. 91a having a ground floor entrance lobby, stairs to first floor with landing, lounge/diner kitchen, whilst on the second floor there is a landing, two bedrooms and shower room.
No. 91b having a ground floor entrance lobby and staircase to first floor with landing, lounge, kitchen, bathroom and two bedrooms.
Each flat benefits from gas fired central heating.
We have not made an internal inspection of either flat.
The property is located fronting Long Street in the heart of Atherstone Town Centre, there is a good mix of local retailers, together with national operators including Costa Coffee, Superdrug, Barclays, Lloyds Pharmacy, Coop Foodstore, Nationwide and William Hill, all within the immediate vicinity.
Atherstone is a North Warwickshire town lying midway between Tamworth and Nuneaton, it is the home of North Warwickshire Borough Council and in more recent years it's economy has expanded due to its central location and good access to the motorway network with a number of major Companies, such as TNT, Aldi and 3M all setting up their offices or distribution centres within the town.
We understand that the property is Freehold, subject to the following:-
91 Long Street - Let by way of a 15 year Lease to Greggs Plc with effect of 14th August 2006, at a current rental of £22,850 per annum.
91a Long Street - Currently vacant. Estimated rental value £6,000 per annum.
91b Long Street - Currently let by way of an Assured Shorthold Tenancy, with effect from 4th November 2016. The tenant is currently holding over, at a rental of £6,000 per annum.
We have not had sight of the Leases in respect of the above, however copies will be available for inspection within the legal pack.
We understand that VAT will be chargeable on this transaction, however the sale could be treated as a TOGC. All interested parties should refer to the Legal Pack in this respect.
Strictly by arrangement with the Auctioneers.
Commercial investment.
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.
