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Commercial Property
Located within the town centre, Broad Pavement provides a thoroughfare between the Northern Gateway and Knifesmithgate.
The units are currently let and produce £6,850 per annum.
The property comprises the following individual units/lettings:
167 sqft / 15.5 sqm. Let as a souvenir/merchandising outlet on a 3-year lease granted in June 2021. Rent: £1,750 per annum.
167 sqft / 15.5 sqm and 206 sqft / 19.1 sqm. Both let to the same individual with 16 trading as Sew Smart Clothing Alterations and 18 as a barbershop on a 3-year lease granted in March 2011 (holding over). Rent: £3,250 per annum.
206 sqft / 19.1 sqm. Let as a cash converters trading as Quids Inn on a 3-year lease granted in October 2009 (holding over). Rent: £1,850 per annum.
Prospective buyers are advised to make all necessary independent enquiries and to inspect the legal documents prior to 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.
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 auctioneers fee apply:
• 10% deposit (subject to a minimum of £5,000)
• Buyers Fee of £1,500 inc. VAT
The Buyers 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, including payment of the Sellers legal and surveyor’s fees, which will be available to view within the Legal Pack. The Legal Pack will include the usual searches, title information including copies of the leases detailing service charges and information concerning any tenant rent arrears, where applicable, together with contract and transfer documentation. 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 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.
