Office
Located just off the busy Cornmarket on a pedestrian area in the heart of the city centre is a freehold double fronted offices, interestingly the former head office to the well known Graham Penny Auctions.
The premises are let as 2 separate offices on a 3 year agreement and we are informed by the seller they are producing an income of £15,000 per annum, this income represents an impressive return based on the guide price in excess of 10% per annum.
The well maintained accommodation has recently been split into two offices, however can easily been converted back if desired in the future. The wide shop frontage is served by two double glazed entry doors and the Property Source side to the property consists of a shop front with kitchen, store room and separate wc. Steps lead to an internal door with access to the other half of the property, where there is again an impressive shop front with kitchen, lobby with stairs leading down to a large cellar area consisting of three useful store rooms, lobby area with two wc's and a further store room.
Opposite the offices are the Leek United Building Society, Scargill Mann and Co Estate Agents and nearby businesses include Greggs, Tesco and a number of bars and restaurants all within walking distance.
Please be advised that room measurements are currently not available. Prospective buyers are advised to make all necessary independent enquiries before placing their bid, as this will be binding.
These sales details are awaiting vendor approval.
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 Variable 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 fees apply:
• 5% deposit (subject to a minimum of £5,000)
• Buyer’s Fee of 4.8% of the purchase price for properties sold for up to £250,000, or 3.6% of the purchase price for properties sold for over £250,000 (in all cases, subject to a minimum of £6,000 inc. VAT). For worked examples please refer to the Auction Conduct Guide.
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.
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