Commercial Property
A freehold investment opportunity consisting a 1.75 acre site located off the Geddington Road. The site is part hard standing and in part utilised for truck parking. The site is let to two businesses; namely a car wash and a car repair centre. Further income is gained from letting spaces for Truck Parking. Total current income £103,900 per annum.
The site benefits from a large forecourt of hard standing extending circa 35,000 Sq Ft. This is currently partly utilised as parking for trucks.
25 marked out parking bays are let at £253 pcm (£6,235 in total) £75,900pa.
A car wash operates from the West boundary of the site enjoying dedicated access to Geddington Road and good visibility for passing trade. Current income £13,000pa.
A car repair garage operates to the North Boundary of the site behind secure gates. Current Rent Passing £15,000pa.
A recently reconstructed industrial warehouse is located adjacent to the car wash. It benefits from high eves, roller shutters and rear fire escapes and extends circa 10,000 Sq Ft. There is scope to partition the unit if required. This will be offered with vacant possession upon completion. Scope for circa £80,000pa income.
The site is located on Geddington Road, to the south east of Corby town centre. This gives access to A43 link road which is fully dualled to the A14, 8 miles (13 minutes) away meaning the site is Strategically located for Birmingham, London and Ports.
These sales details are awaiting vendor approval.
Freehold. Part let/part vacant.
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 2.4% of the purchase price 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.
