Retail Property (High Street)
IMPRESSIVE 14.6% RETURN BASED ON GUIDE PRICE
A superb opportunity to acquire this mixed residential/commercial high yield investment property comprising three units and two flats, occupying a corner position in the heart of the town centre. The commercial units are let on full repairing and the first floor flats are also let which comprise two 2- bedroom units with a rental income of £29,350 per annum.
The property benefits from Cressy Road to Hall Street leading to the 24 hour Tesco super store. Nearby retails include Tesco, Birds, Bon Marche, Boots the Chemist, Costa Coffee, William Hill.
Currently let at a rental of £7,250 per annum.<br><br>Sales 7.71m x 3.62m (25ft 4 x 11ft 11)<br><br>Inner Hall<br><br>With access to the cellar<br><br>Cellar 5.49m x 3.63m (18ft 0 x 11ft 11)<br><br>Rear Stock Room 4.61m x 3.69m (15ft 1 x 12ft 1)<br><br>With access to WC which contains electric water heater, wash hand basin and WC.
Currently let at a rental of £7,500 per annum.<br><br>Sales 8.72m maximum x 4.31m (28ft 7 maximum x 14ft 2)<br>With Kitchenette and WC off
Currently let at a rental of £3,500 per annum.<br><br>Sales Shop 4.37m x 3.64m (14ft 4 x 11ft 11)<br><br>Stock Room/Office 4.23m x 2.76m (13ft 11 x 9ft 1)
Two first floor residential flats currently let. Number 39 £475 per calendar and 40 £450 per calendar. We are advised the tenant at Number 39 has given notice and is due to vacate on 4th November. The sellers are actively re-letting the flat.
Access is provided off Cressy adjacent to Katie Abey with communal hallway: with storage cupboard housing the utility meters and post box.
Lounge 5.39m x 3.64m (17ft 8 x 11ft 11)<br><br>Kitchen 3.09m x 1.81m (10ft 2 x 5ft 11)<br>Containing a range of wall and base units, rolled edge work surface, stainless steel inset sink unit and gas central heating boiler.<br><br>Bedroom One 4.38m x 2.73m (14ft 4 x 8ft 11)<br><br>Inner Hallway<br><br>Bedroom Two 2.59m x 2.14m (8ft 6 x 7ft 0)<br>Velux roof light, fitted storage cupboard with shelving.<br><br>Bathroom 2.28m x 2.27m (7ft 6 x 7ft 5)<br>Containing a three piece suite comprising: bath and wash hand basin, low flush WC and storage cupboard with shelving.
Comprising lounge, kitchen, two bedrooms and bathroom.<br>The measurements have been requested and are not yet available.
The property is fully let and viewing will be available externally from the road frontage.
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 (England and Wales).
Binding contracts of sale will be exchanged at the point of sale.
All sales are subject to SDL Property Auctions’ Buyers Terms.
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 £1074 inc. 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.
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.
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.
