Commercial Property
The property is located fronting onto Hatton Garden within the Eden Square development. The immediate surrounding area comprises a number of regional and national type occupiers such as Tesco and Travelodge with various Liverpool/John Moores
University buildings within close proximity. The property also benefits from being in close proximity to the cities amenities including the prime retail shopping locations, restaurants and access to the public transport network such as Moorfields inner city railway station approximately 0.2 miles east.
The subject premises comprises of a fully fitted office provision to a high standard with a self-contained ground floor entrance fronting on to Hatton Garden within a mixed use Eden Square development with the other floors comprising luxury serviced apartments. Internally the property benefits from full height aluminium double glazed frontage, concrete flooring throughout, W.C. and kitchenette facilities.
Accommodation:
We have measured the premises in accordance with the RICS Code of Measuring Practice (6th Edition) to provide the following approximate areas and dimensions:
Net Internal Area: 919 sq.m (989 sq.ft)
Disclaimer: Consumer Protection From Unfair Trading Regulations 2008: SK Real Estate for themselves and for the Vendors and Lessors of his property whose agents they are gibe notice that: (a) these particulars are set out as a general outline for the guidance of intending
Purchasers or Lessors and do not form part of an offer contract, (b) all dimensions, reference to conditions and other details are given in good faith and are themselves by inspection or otherwise as to the correctness of each of them, (c) SK Real Estate nor any person in their employment has any authority to make or give any representation or Warranty whatsoever in relation to this property
Tenure:
The property is currently let to a retail occupier on an effectively Full Repairing and Insuring Lease for a Term of 10 years from September 2019 at an initial rent of £14,000 per annum, subject to a break clause on the 2nd and 5th Anniversaries of the term and a rent review on the 5th Anniversary.
Rates:
We understand through internet enquiries that the property has a rateable value of £4,600. The Uniform Business Rate for 2018/19 is 48.4p (or 49.7p above £18,000).
Interested parties should make their own enquiry of Liverpool City Council`s Rating Department on 0151 233 3008 or www.voa.gov.uk/businessrates.
Leasehold. Subject to tenancy.
Auction Method:
The auction for this property will be conducted online through our online-bidding platform. This is a “Timed Auction”, so there are no other lots being sold alongside this property.
The timeslot for the auction is displayed on SDL Property Auctions’ website. To view this, search for the property on their website. Then click onto the property to view the property details. The time remaining to bid and end date of the auction is displayed on the page.
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) which are available on SDL Property Auctions website.
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 15 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 and will be considered as part of the chargeable consideration for the property in the calculation of stamp duty liability.
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:
When you register to bid, you will be prompted to provide your payment details to SDL Property Auctions. In the event that you are the winning bidder, your card will automatically be charged a proportion of the Buyer’s Fee & Deposit. The payment will be calculated based on the guide price of the property, in line with the fee scale described above. Where the actual purchase price is higher than the guide price, you will be required to pay the difference immediately after the end of the auction, which can be paid by debit card or bank transfer. Payment by cash or cheque will not be accepted.
Example: You win the bid on a property with a guide price of £150,000, but the actual purchase price is £170,000. At this point your bid is successful you will be charged as follows:
Buyer’s Fee of £7,200- 4.8% of guide price
Deposit of £7,500- 5% of the guide price
As the actual purchase price amounted to £170,000, after the auction, you will be required to pay the following additional amounts on top of the initial payment:
£960 for Buyer’s Fee shortfall (£8160 due as 4.8% of actual purchase price)
£1,000 for Deposit shortfall (£8500 due as 5% of actual purchase price)
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.
To view the legal pack, first search for the property on SDL Property Auctions’ website and click onto the property to view the property details. There will be a sub-heading “Legal Documents”. Underneath this, you will be prompted to “Log in to view the legal documents”. Follow this link, 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. 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.
Registration Process:
To register to bid on the property, search for the lot on SDL Property Auctions website. Click onto the property, follow the link to “Log in/register to bid” , and you will then be directed to create an account with the online-bidding platform provider, EIG.
