Commercial Property
If converted in accordance with the approved plans, the main property will consist of two ground floor retail units, three one bedroomed apartments on the first floor, three further one bedroomed apartments on the second floor and to the third floor there will be a one bedroomed penthouse apartment. Retail unit two which is accessed from off the Fish Market will consist of large ground floor premises with staircase leading to the first, second and third floor apartments.
We would estimate an approximate rental income of £16,000 per annum for unit one and £12,000 per annum for unit two. The approximate rental value per apartment is in the region of £6,000 per annum thus producing an estimated combined income when fully let in the region of approximately £70,000 per annum. (If an extra apartment is constructed by adding an extra internal floor subject to planning permission it would change the estimated rental value to £76,000.)
VAT is not applicable to the purchase price.
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 as Unconditional with Fixed Fee.
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 auctioneer’s fee apply:
• 10% deposit (subject to a minimum of £5,000)
• Buyer’s Fee of £1,500 inc. VAT
The Buyer’s 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
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.
