Mixed Use
The investment premises is situated in a popular residential location of Measham.
More specifically, the subject property occupies a prominent position in the heart of the village, and the end of terrace premises sits within other popular retail users.
DESCRIPTION:
The subject property provides an income-producing investment of £14,000 per annum providing an attractive two-storey building currently utilised as a Chinese take-away and first floor residential premises trading as Dragon Chinese.
The end of terrace premise provides ground floor retail space comprises, front of house entrance/service area, kitchen, WC facilities and storage rooms. The front shop window has roller shutter door safety.
The first floor has its own rear access to the property and boasts a kitchen, living room, bathroom, toilet facilities and two double bedrooms. There is also external sitting area.
There is an estate car park.
LEASEHOLD POINTS:
16 year lease from 8th February 2023
Lease end date 7th February 2039
Approximately 14 years left on the lease
No break clauses
Full repairing and insuring leasehold
3 yearly rent reviews - Rent Review Dates 8th February 2026, 2029, 2032, 2035 and 2038.
Please be advised that whilst our joint agent has conducted an inspection, the auctioneers have not personally inspected the property. Prospective buyers are advised to make a viewing enquiry and any other necessary independent enquiries before placing their bid, as this will be binding.
We are informed that the Rateable Value for the property is £6,400 per annum. Prospective buyers are advised to make their own independent enquiries in this respect before placing their bid, as this will be binding.
Rivers and Seas - Very low. Surface Water - Very low.
Cavity wall, as built, no insulation (assumed) - Information taken from EPC.
Standard 18 mbps, Superfast 76 mbps and Ultrafast 1000 mbps show as available in this location
EE, O2, Vodaphone and Three show as available in this location.
Sky, Virgin and BT show as available in this location.
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 under and Unconditional sale type.
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 fee apply:
• 10% deposit (subject to a minimum of £5,000)
• Buyers Fee of 1.2% of the purchase price (subject to a minimum of £1,500 inc. VAT)
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.
