A substantial freehold, mixed use property in a highly sought after location.
For sale part let/ Part vacant.Made up of 3 large Victorian Villa type properties, now arranged as a large retail unit to the ground floor and 3 self-contained apartments above. The retail unit will be sold with vacant possession. Two of the flats are let out and one is currently under refurbishment. Current income from two flats- £10,200 per annum. Estimated income when fully let – £40,000 – £45,000 per annum. The property offer scope for further development to the rear and also boasts a large loft space. An internal viewing is highly recommended. In more detail:
Main sales areas
Male and Female Toilets.
Small rear yard with storage area and access from Lorne Rd.
This has scope for conversion to residential or split into 3 smaller shops, subject to permissions.
Estimated rent – £20,000 – £25,000 per annum.
Flat 1 – Let at £400 pcm
Full market rent £650 pcm
Flat 2- Let at £450 pcm
Lounge / Diner
Full market rent £500 pcm
Flat 3 – Vacant and currently under refurbishment
Potential for Bedroom 2
Estimated Market Rent £600 pcm
Conditions of Sale
The Conditions of Sale will be deposited at the offices of the auctioneers and vendors solicitors/licensed conveyancers prior to the auction and the purchaser shall be deemed to have knowledge of same whether inspected or not. Any questions relating to them must be raised prior to the auction. Prospective purchasers are advised to check with the auctioneers before the sale that the property is neither sold nor withdrawn.
The purchaser will also be deemed to have read and understood the auction conduct notes printed within the sale catalogue.
A 10% deposit is payable on the fall of the gavel, subject to a minimum of £5,000.
*Guide Prices and Reserve Prices
Each property sold is subject to a Reserve Price. The Reserve Price, which is agreed between the seller and the auctioneer just prior to the auction, 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. Both the Guide Price and the Reserve Price can be subject to change up to and including the day of the auction. For a full definition of the Guide Price and the Reserve Price click here.
Energy Performance Certificates
EPCs can be viewed in full in the lot information section at the top of this page or in the legal pack.
Prospective purchasers will need to register within the auction room before the sale commences. Two items of identity will be required together with an indication of how a contractual deposit will be paid. We do not take cash or cheque deposits. Remote bidding facilities are also available.
The sale of each lot is subject to a buyer’s fee of £1,074 inc VAT (£895 + VAT) (unless otherwise stated in the important notices), payable on the fall of the hammer.
The purchase of this property may include associated fees not listed here. Any additional fees will be confirmed in the legal pack which can be downloaded from our website from the lot information section above. Or to find out more about any additional fees associated with this property please contact the auction office.