Retail Property (High Street)
DRAFT DETAILS. Two tenanted retail units for sale as one lot positioned in the heart of the main shopping area of Gainsborough Town Centre. Both Units sit side by side within a parade of shops beneath a 60’s built office development.
Unit 2 Church Street is let to Swanky Beats an independent music shop currently holding over and paying £6,000 p.a. This unit occupies the ground floor only. Unit 2a Church Street is let to Solar Team (UK) Ltd who specialise in the fitting of Solar Panels. They have a 5 year lease expiring 24th June 2020 and pay £7,000 p.a. This unit has the benefit of the 1st and 2nd floor accommodation currently used as additional storage space.
Upon inspection of the premises it was noted that there was evidence of water egress from the ceiling above the 2nd floor of unit 2a (Solar Team UK Ltd). SDL have no further information with regard this issue therefore interested parties are strongly advised to view the premises prior to the auction.
The accommodation briefly comprises:
44.5m2 (479sq ft) )
With protective roller shutters to the front.
21.6m2 (232sq ft)
39.3m2 (423sq ft)
28.5m2 (306sq ft)
25m2 (269sq ft)
19m2 (205sq ft)
20.7m2 (223sq ft)
Freehold. Subject to tenancy.
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.
