Commercial Property
A rare opportunity to acquire an end-terraced building situated along The Broadway on the junction with Fermoy Road within an upmarket area of both commercial and residential dwellings. A mixed use opportunity with planning permission for the creation of two apartments along with a commercial unit subject to obtaining any relevant legal consents to implement this. There is also the ground rent interest in a ground floor commercial unit. We advise interested parties to inspect the legal pack for more information.
Different parts of the building have been let out on three long leases details of which are set out in the Office Copy Entry of the freehold title at HM Land Registry registered under title no.EX84888. Copies of the leases and/or the titles will be provided as part of the auction pack.
The auctioneers have not inspected the property. The seller has also obtained planning permission for the development of part of the building under application no.21/00813/FUL dated 2nd September, 2021. This is for the erection of a two storey rear extension at first floor level and two self-contained flats with terrace at the side of the first floor and for a new commercial unit on the side of the ground floor. Full details are also included as part of the auction pack. As planning permission is separate to any legal restrictions that may burden the property, it is a matter for any purchaser to make their own enquiries/decisions as regards the implementation of the planning permission, such as making enquiries of the interests of leaseholders. Prospective buyers are advised to make all necessary independent enquiries prior to placing their bid as this will be binding.
Freehold. Part let/part vacant.
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 Variable 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 fees apply:
• 5% deposit (subject to a minimum of £5,000)
• Buyer’s Fee of 4.8% of the purchase price for properties sold for up to £250,000, or 3.6% of the purchase price for properties sold for over £250,000 (in all cases, subject to a minimum of £6,000 inc. VAT). For worked examples please refer to the Auction Conduct Guide.
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.
