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45-47 Shrewsbury Road, Market Drayton, Shropshire TF9 3DN

Lot no: 125a Available
 

Guide Price £240,000+ plus fees

Unconditional with Variable FeeOn the fall of the hammer, the successful bidder will be legally bound to purchase the property. The successful bidder must immediately exchange contracts, pay a 5% deposit (subject to a minimum of £5,000) along with a non-refundable Buyer’s Fee of either 4.8% of the final sale price of the property up to and including £250,000, or 3.6% if the final sale price is over £250,000. The Buyer’s Fee is subject to a minimum of £6,000. Completion must take place usually within 20 business days unless the Special Conditions of Sale state otherwise.

Thursday 28th October 2021

10.00am
Key Features
  • Prime Location
  • Four bedroom refurbished detached property
  • Potential rental income of £30,000 per annum
  • Shop and residential ready for let
  • EPC Rating: D, D
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Available

Mixed Use

Property Description:

The property comprises a detached two story mixed use premises offered with vacant possession. The premises comprises a commercial unit (number 45 Shrewsbury Road) and a 4 bedroom residential dwelling (number 47 Shrewsbury Road)

The commercial unit (number 45) benefits from a prominent frontage and is very well known and popular within the community. The owner is continuing to trade up until completion and therefore there will be some associated good will from repeat custom should the new owner decide to reopen. We are advised all equipment will remain and this upon inspection appeared to be in good condition and included walk in fridge and freezers and full extraction units. This area could also be converted to residential dwelling subject to the necessary planning consents.

The main shop area extends aprox 260 sq foot and includes serving counter, extraction and waiting area. To the rear is a storage / food preparation area extending approximately 240 sq ft including walk in fridge and freezer, extraction and rear courtyard access. There is also a separate storage / office area extending approximately 136 sq foot with access to the rear courtyard.

Externally there is a courtyard area and garage extending approximately 288 sq ft. Beyond this foundations have been laid for the creation of a two bed detached coach house with garaged parking below. We advise interested parties to inspect the legal pack and the Shropshire county council planning portal number 16/02554/full. The rear of the property backs onto Salisbury Road which would form the access point.

We feel the development plans could be tweaked to remove the parking below and include a second two bedroom apartment subject to planning.

The residential accommodation (number 47) comprises a separate entrance away from the commercial unit giving privacy and potential to sell off separately (STP). There is a large entrance hall leading to a lounge and fitted kitchen containing a boiler along with access to the garden. The property benefits from newly fitted carpets and has been refurbished.

The first floor accommodation comprises 4 spacious bedrooms (one en-suite) along with a box room and bathroom.

Externally there is a rear garden and parking beyond accessible from Salisbury Road.

We feel there are numerous options with this lot. A new owner could simply let the shop and residential for circa £800pcm per side. Once completed to plans; the rear building would fetch circa £800pcm. The three could also be sold separately in the future STP.




Tenure:

Freehold. Vacant possession upon completion.


Auction Method:

The auction for this property will take place as an “Auction Event” behind closed doors with a live auctioneer and will be streamed online in real-time. The property will be sold alongside several other lots. Bids must be placed remotely- please see the below section on “Registration Process”. The auction can be watched in real-time on the auction date on our home page: https://www.sdlauctions.co.uk/

The auction date applicable for the property is displayed on this page. It is not possible to provide a precise timeslot when this property will be auctioned on the day, because there are other lots being sold.

You are required to undertake identity checks before you can be authorised to bid. You must also provide your payment details. If you do not provide this information, your registration will not be processed.

When you place your bid, you are deemed to have agreed to SDL Property Auctions’ Buyers Terms (England & Wales).

Auction Type – Unconditional with Variable Fee

If you are the highest bidder, you must exchange legally binding contracts for the sale when the auction for the property comes to an end. You must then pay the applicable fees and deposit. You must complete the sale within 20 business days unless the Special Conditions of Sale contained within the Legal Pack state otherwise.

Auction Fees

The following non-refundable fees apply:

  • Buyer’s Fee- payable on exchange of contracts. This is calculated as a percentage of the actual purchase price of the property. Either:

(a) 4.8% (including VAT) of the purchase price, for properties up to and including £250,000

(b) 3.6% (including VAT) of the purchase price for properties sold for over £250,000

The Buyer’s Fee is subject always to a minimum of £6,000 (including VAT). The Buyer’s Fee does not contribute to the purchase price.

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 Special Conditions carefully before bidding. Any additional fees are included at the seller’s discretion, not on the instruction of SDL Property Auctions, and will be in addition to any fees payable to us. SDL Property Auctions has limited control over the content of the Special Conditions of Sale.

Deposit

On exchange of contracts, you must pay a non-refundable deposit equal to 5% of the actual purchase price of the property, subject to a minimum of £5,000. The deposit contributes towards the purchase price.

Payment Method:

Applicable fees/deposit must be paid immediately after a winning bid has been placed. We do not accept payment by cash or cheque. Prior to the auction, we will email you to register your card details with our third-party provider, Stripe. Your card details will be stored on their secure online payment platform. Payment will only be taken from you in the event of a winning bid. In this case, you will be contacted by one of our representatives to make payment. If we cannot make contact with you within 24 hours after the auction ends, we reserve the right to charge your card if you do not respond to this email.

Legal Pack

Before bidding, you must view the legal pack for the property. This is the collection of legal documents that apply to the sale. The documents will include but are not limited to: Special Conditions of Sale, title documents from the Land Registry and Energy Performance Certificate.

The legal pack can be viewed against the property details, where there is a sub-heading “Legal Packs”. Follow this link, and you will then be directed to create an account with Auction Passport to view the documents.

The legal pack can change at any time up until the auction starts so you must check for the most recent version of the legal pack. An addendum may be issued outlining any late changes. At the point of placing your bid, you are deemed to have read the legal pack in its entirety, including any changes. Failure to check for changes to the legal pack will not be a valid reason for withdrawing from the sale.

It is strongly recommended that you instruct a qualified professional to review the legal pack and raise any necessary enquiries before bidding.

Special Conditions of Sale

The property is sold subject to any Special Conditions of Sale. These are contractual conditions that are included by the seller of the property – they are not part of SDL Property Auctions’ terms and conditions. The Special Conditions of Sale are legally binding. You are taken to have read and accepted these at the point of bidding, even if you have not done so. The Special Conditions of Sale are available to read in the legal pack.

Energy Performance Certificate

The EPC for this property can be viewed in full at the top of this page or in the legal pack.

Registration Process:

To register to bid on the property, you must submit your remote bid here: https://www.sdlauctions.co.uk/remote-telephone-proxy-bidding/. There is also a link to register on the property details page, where you will also be able to find the lot number for the property. Prospective buyers must register no later than 12pm the day before the auction date. If you register after the cut off, it cannot be guaranteed that your registration will be processed.

Guide Price & Reserve Price

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.