Mixed Use in Mablethorpe

12,14,16,14a Tennyson Road, Mablethorpe, LN12 1HE

Lot no: 50 Property type: Mixed Use 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* £66,000+plus fees Result Sold at Auction £79,000

Mixed use investment opportunity in a great location producing £10,030 per annum

Property Description

A rare opportunity to acquire an investment property made up of a one bedroomed first floor self contained flat and three ground floor shop units all of which are currently let producing £10,030 per annum. The property is set just moments away from Mablethorpes busy town centre, giving excellent access to all local amenities. The auctioneers have not inspected the property.

Ground Floor - 3 Commercial Units Fully Let

12- currently producing £1,560 per annum (office)
14- currently producing £2,860 per annum (taxi rank)
16- currently producing £1,560 per annum (tatoo shop)

First Floor- 2 Residential Units

14a- currently producing £3900 per annum
16a- sold off on long lease producing £150 per annum



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Prospective purchasers are advised to check with the auctioneers before the sale that the property is neither sold nor withdrawn.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.

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.