Mixed Use
This freehold property comprises a modern ground-floor retail unit, well fit-out for use as a salon, with further accommodation to the first floor and shared rear yard.
Briefly, the property comprises a spacious main retail area, an additional room, and a utility area, and would be suitable for various commercial uses (STP). To the first floor is accommodation arranged as residential use*, which includes a bathroom. The property will be sold vacant, presenting an opportunity for the investor to select tenants and set rental terms.
We are advised by our local joint agent that once fully let, the property has the potential to generate a combined rental income of approximately £1,200 per calendar month, equating to £14,400 per annum.
New Wellington Street is situated in the Mill Hill district of Blackburn, a well-established residential and commercial area within Lancashire. The property enjoys a prominent position with easy access to local amenities, including shops, schools, and public transport links.
* Buyers should satisfy themselves as to the established use class of the property. The first floor accommodation is not separately accessed.
Freehold. 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 £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.
