Commercial Property
The property comprises a four storey end terraced period building measuring 3,693 sq. ft (343.06 sq.m). Benefits include:
Ground floor retail space.
Office accommodation and 1st and 2nd floors.
One bedroom residential apartment on 3rd floor.
Potential for residential conversion on the upper floors subject to planning.
Situated in a popular retail position with high footfall.
The building is not listed but is located within a conservation area.
Llandudno is the principal retailing town on the North Wales coast with excellent road access from the A55 and A470. The town offers a quality shopping environment and draws from an extensive catchment area including Anglesey and the Llyn Peninsula.
The subject unit occupies a prominent trading position on Mostyn Street, which is the towns prime pitch.
The property is available for sale on a long leasehold basis by way of lease from Mostyn Estates Ltd dated 6th October 1947 for a period of 999 years from 24th June 1947 at an annual ground rent of £400.
A subsequent Deed of Variation provides a user clause for use as;
'the premises demised by the lease as a general retail shop with offices or flats on
the first, second and third floors'.
Leasehold. Vacant possession upon completion.
Auction Details
The sale of this property will take place on the stated date by way of Timed Auction and is being sold under an 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 fees apply:
• 5% deposit (subject to a minimum of £5,000)
• Buyers Fee of 3.6% of the purchase price (subject to a minimum of £6,000 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.
