Retail Property (High Street)
Two commercial units with substantial rear storage and upper floors offered with vacant possession upon completion.
The lot comprises two separate commercial units namely numbers 66 and 67. The upper floors are completely separate however the ground floor to the rear has been opened up to allow one tenant to occupy the space. This can be easily closed off to create two completely separate units if required. We feel there is scope to convert the units into perhaps a mixed use scheme or HMO subject to planning consents.
66 High Street is a former fruit and veg store and has been vacant several years. The main shop extends 192 sq. foot with wooden frontage. There is rear storage extending 135 sq. ft., behind this is a shower with WC. To the rear is a further storage area extending 140 sq. ft. The first floor comprises a shower room and storage. The second floor comprises a attic room with skylight.
67 High street was trading as a Chinese takeaway until very recently and we understand the rent passing was £16,000pa. The unit comprises uPVC frontage and main shop area with servicing counter extending 216 sq. ft. Beyond is a food prep area extending 70 sq. ft. along with a fitted commercial kitchen with extraction unit extending 111 sq. ft. Gas appliances were present and we believe these will be removed prior to sale.
Towards the rear of the property is a second food prep area along with a fire escape extending 130 sq. ft. A further rear storage area extending 246 sq. ft. is also accessible. First floor comprises two storage rooms and the second floor comprises an attic room with skylight.
The properties are located along the High Street approximately mid way down. The High street is the principal retail district of Lincoln with substantial footfall and vehicular traffic, which has recently undergone significant Highways improvements. There is on street parking within the vicinity and national retailers within walking distance.
Freehold. Vacant possession upon completion.
Auction Details
The sale of this property will take place on the stated date by way of Auction Event 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 4.8% 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.
