Retail Property (High Street)
DRAFT DETAILS The property comprises an attractive end of terrace three storey building of brick and part rendered construction with a slate roof. The ground floor of the property is utilised as a popular clothing store and has a trading area of approximately 250 sq ft (23 sq m).
The first floor accommodation is accessed from the retail unit and comprises a landing, two double rooms and a wc.
The second floor is currently not accessible and would require a staircase to be installed. We are advised it comprises of a single room which has not been inspected and therefore interested parties are to satisfy themselves as to the layout.
We consider the upper accommodation may be suitable to change of use, subject to obtaining the appropriate planning permission into residential accommodation.
Separate access could potentially be realised by reconfiguring the layout of the stairs to the side of the property.
Location
The property is situated within a parade of similar proprieties lying to the northern side of George Street opposite an ASDA superstore and with an area that is currently undergoing extensive investment and improvement including a new retail and leisure development to the rear. The established shopping areas of the high street, Sadlers centre and Jerome retail park are all within close proximity.
We understand the property is subject to term of 5 years commencing December 2017 at a current rent passing of £6,500 per annum rising to £7,000 per annum from December 2019. We have not have sight of any legal documentation, but a copy will be made available within the legal pack.
We understand Value Added Tax will be chargeable on this transaction.
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.
