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Office in Telford

4 Court Street, Madeley, Telford, TF7 5EB

Lot no: 32 Property type: Office Auction type: Unconditional with Fixed FeeWhere exchange occurs immediately on the fall of the gavel. The successful bidder will be legally obliged to exchange contracts, pay a 10% deposit (subject to a minimum of £5,000) together with the buyers fee of £1074 and complete within a set time period.

Guide Price* £40,000 - £50,000plus fees Result Sold at Auction £40,000



A long leasehold commercial investment opportunity - a double fronted ground floor office. Current rental income £6,600 per annum.

Property Description

A double fronted commercial unit situated in a prominent location and currently occupied by Smart Homes Estates Ltd.

Accommodation:

We have been informed that the accommodation offers a 24ft wide shop front with two display windows. There is also a separate office to the rear with a wc and a cellar which offers storage space. The premises sits in a prominent position with public parking nearby.

Location:

The property is located in a prominent position fronting Court Street, Madeley in an area of predominantly commercial units. There are local amenities near by including a superstore and public parking.

Tenure:

We are informed the property is leasehold, held on a long lease commencing 14 August 2007 with a term of 125 Years. The property is currently let to Smart Homes Limited who hold a 6 year lease (outside of the LLTA) with a guarantor commencing 21st December 2018 at a rent of £6,600 per annum. The Auctioneers have not verified the tenancy agreement and further details will be provided within the legal pack.

Tenure

Leasehold.


Conditions of Sale
The Conditions of Sale will be deposited at the offices of the auctioneers and vendors solicitors/licensed conveyancers prior to the auction and the purchaser shall be deemed to have knowledge of same whether inspected or not. Any questions relating to them must be raised prior to the auction. Prospective purchasers are advised to check with the auctioneers before the sale that the property is neither sold nor withdrawn.

The purchaser will also be deemed to have read and understood the auction conduct notes printed within the sale catalogue.

A 10% deposit is payable on the fall of the gavel, subject to a minimum of £5,000.

*Guide Prices and Reserve Prices
Each property sold is subject to a Reserve Price. The Reserve Price, which is agreed between the seller and the auctioneer just prior to the auction, 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. Both the Guide Price and the Reserve Price can be subject to change up to and including the day of the auction. For a full definition of the Guide Price and the Reserve Price click here.

Energy Performance Certificates
EPCs can be viewed in full in the lot information section at the top of this page or in the legal pack.

Note
Prospective purchasers will need to register within the auction room before the sale commences. Two items of identity will be required together with an indication of how a contractual deposit will be paid. We do not take cash or cheque deposits. Remote bidding facilities are also available.

Auction Fees
The sale of each lot is subject to a buyer’s fee of £1,074 inc VAT (£895 + VAT) (unless otherwise stated in the important notices), payable on the fall of the hammer.

The purchase of this property may include associated fees not listed here. Any additional fees will be confirmed in the legal pack which can be downloaded from our website from the lot information section above. Or to find out more about any additional fees associated with this property please contact the auction office.