Retail Property (High Street)
The property is situated on Sadler Gate, an attractive pedestrianised shopping thoroughfare in the heart of the historic Cathedral Quarter to the north of the city centre. Sadler Gate has long been established as the boutique and niche retailing sector of the city centre offering a mix of national, regional and independent retailers. It also forms part of the main food and drink circuit for the city and alongside the adjacent Friar Gate and Iron Gate, offers a range of cafes, bars and restaurants.
The Property comprises an attractive three storey building of traditional brick construction under a pitched tiled roof with full height glazed retail frontage. Currently occupied by Joules, the ground floor has been fitted to a high standard as a quality clothing retailer with laminate flooring, recessed spot lighting and air conditioning. There is an open plan sales area with changing room area to the rear.
The first and second floors offer ancillary storage and office accommodation with fluorescent strip lighting and carpeting. The upper floors are access from within the shop and also have a separate entrance off a passageway directly off Sadler Gate.
The premises are suitable for a variety of uses falling within Class E(Business, Commerce and Services) of the Use Classes Order 1987(as amended) including retail, office, cafe, restaurant, healthcare. May be suitable for a potential residential scheme subject to appropriate planning consent. Prospective buyers are advised to make all necessary independent enquiries prior to placing their bid as this will be binding.
We have been advised the tenants are due to vacate in September 2022. Interested parties are advised to inspect the legal pack for more information.
Please note: all measurements are approximations. Prospective buyers are advised to make all necessary independent enquiries prior to placing their bid as this will be binding.
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 (England and Wales).
Binding contracts of sale will be exchanged at the point of sale.
All sales are subject to SDL Property Auctions’ Buyers Terms.
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 £1074 inc. VAT
The Buyer’s Fee does not contribute to the purchase price and will be considered as part of the chargeable consideration for the property in the calculation of stamp duty liability.
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.
Guide Price & Reserve Price
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.
