Mixed Use
The lot comprises a ground rent, three commercial units and four apartments with the commercial units fronting Norfolk Street and the residential units fronting Orange Grove which runs behind and parallel to Norfolk Street.
The auctioneers have not inspected the property but believe it to comprise -
Ground Rent 999 lease Nil Ground rent
Let on a 20 year lease commencing 2003 at rent passing £21,000 per annum. The unit comprises large seating area, kitchen, store facilities and a three bedroomed apartment above along with parking to the rear.
115 year lease with ground rent £100 per annum.
Freehold with rent passing £6,000 per annum Residential AST.
Freehold with rent passing £6,000 per annum Residential AST.
Freehold with rent passing £5,040 per annum Residential AST.
Freehold with rent passing £5,040 per annum Residential AST.
We have not internally inspected the properties and would advise interested parties to inspect the legal pack for more information.
The property is located in Wisbech, Cambridgeshire within walking distance of the town centre and the North Cambridgeshire Hospital. The area comprises a mixture of both local and national retailers including JD Wetherspoon, Ladbrokes and Asda.
We understand that VAT will be chargeable.
Strictly by appointment with the auctioneers.
Freehold.
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.
