Warehouse
The lot comprises a two-story trade counter / warehouse investment opportunity having excellent frontage onto Victoria Road. The property benefits from a roller shutter, separate customer access, UPVC double glazing, allocated parking to the front of the property along with additional parking in close proximity.
Location:
The property is prominently located adjacent the busy Victoria Road which connects Hanley City Centre through to Fenton and the A50 dual carriageway. The A50 links Nottingham and Leicester to the east and the M6 Motorway to the north at Junctions 15 and 16.
Tenancy:
Tenant: Furniture World Italia Limited (Company No. 10809243) plus personal guarantee.
Term: 5 years from 1st July 21.
Tenant break: 3rd year anniversary, 6 months’ notice.
Rent: Yr 1 £23,160 then £25,000 pa thereafter, payable quarterly in advance.
Full Repairing and Insurance lease to keep in good repair and condition. The tenant has an option to purchase, interested parties should review the legal pack for further information.
Accommodation:
Ground Floor: 603.45 Sq.M (6,500 Sq.Ft)
First floor: 113.36 Sq.M (1,220 Sq.Ft)
Gross Internal Area: 716.81 Sq.M (7,720 Sq.Ft)
VAT:
The property is opted to tax and is applicable. The sale may be treated as a transfer of going concern and interested parties should seek further legal advice.
Business Rates:
The 2023 VOA listing states the ratable value is £19,750.
EPC:
Rating E-104, expires 29 March 2030.
Interested parties are advised to inspect the legal pack for more information.
Prospective buyers are advised to make all necessary independent enquiries prior to placing their bid as this will be binding.
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. Properties located in Scotland will be subject to applicable Scottish law.
Auction Deposit and Fees
The following deposits and non- refundable auctioneers fees apply:
• 5% deposit (subject to a minimum of £5,000)
• Buyers 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 Buyers Fee does not contribute to the purchase price, however it will be taken into account when calculating the Stamp Duty Land Tax for the property (known as Land and Buildings Transaction Tax for properties located in Scotland), because it forms part of the chargeable consideration for the property.
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 (and any applicable Home Report for residential Scottish properties).
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.
