Mixed Use
The property comprises a self-contained ground floor retail unit with rear store and wc, together with a self contained flat above with accommodation set over two floors. The flat is accessed via a separate entrance to the side of the retail unit.
We understand the retail unit is currently let producing a rental income of £550 pcm, and the self-contained flat is let on an Assured Shorthold Tenancy agreement producing £450 pcm, which converts to a very healthy yield in excess of 14% if purchased at the current guide.
The accommodation would benefit from a scheme of modernisation and improvement. The auctioneers have not inspected the property internally but believe it to comprise:-
Retail Unit with rear store and wc.
Two rooms, kitchen and bathroom.
Two rooms.
Storage shed.
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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