Commercial Property
DRAFT DETAILS
The property comprises a three storey end of terrace building sub let to a charity with glass frontage and separate side entrance. May be suitable for alternative uses, subject to obtaining the necessary consents. Prospective buyers must make all necessary independent enquiries in this respect for their specific, intended use prior to placing their bid, as this will be binding.
The property is held on a fifteen year FRI lease (currently sub let) commencing August 2020 with break at year five. Current passing rent of £12,000 per annum. We have been advised that the vendors hold a six month deposit for the tenants. Rent reviews will take place on years five and ten.
The property is located along Pow Street in Workington town centre with many national and local retailers within close proximity. Workington bus station is within approximately 0.3 miles of the property.
730 square feet (67.86 square metres)
478 square feet (44.44 square metres)
259 square feet (24.03 square metres)
177 square feet (16.45 square metres)
266 square feet (24.75 square metres)
86 square feet (7.99 square metres)
All measurements are approximations. Prospective buyers are advised to make all necessary independent enquiries prior to placing their bid as this will be binding.
The auctioneers have not personally inspected the property. Prospective buyers are advised to make a viewing enquiry and any other necessary independent enquiries before placing their bid, as this will be binding.
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 (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.
