Retail Property (Out of Town)
A freehold investment opportunity comprising a two story end of terrace building located within a residential area along Uxbridge Street, Burton upon Trent.
The first floor has been sold of on a long leasehold and the ground floor is let to William Hill Ltd on a 15 years lease with CPI linked rent increases.
The ground floor extends 75.58 sq. m. (814 sq. ft.) and is held on a 15 year lease from 2023 with CPI linked increase in the 5th year (cap and collar 5% - 10%) and then open market review in the 10th year. We have not had site of the lease and advise interested parties to inspect the lease within the legal pack.
The first floor is subject to a lease for a term of 125 years from 07.08.2020 £50 p.a. Rent increases by £50 every 25 years.
Burton-upon-Trent is a market town located 11 miles south-west of Derby and 28 miles
north-east of Birmingham.
The town benefits from good road communications being situated on the A38, at its
junction with the A444 and the A511, which connects with the M1 motorway (junction 22)
some 17 miles southwest of the town centre.
Burton-upon-Trent rail station provides regular services to Nottingham, Birmingham New
Street, Newcastle and Gloucester, amongst other destinations.
The property is situated at the junction of Uxbridge Street and Wood Street.
We understand VAT is not applicable.
Please be advised that 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.
These sales details are awaiting vendor approval.
Freehold. Subject to lease.
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. Properties located in Scotland will be subject to applicable Scottish law.
Auction Deposit and Fees
The following deposits and non- refundable auctioneers fees apply:
• 5% deposit (subject to a minimum of £5,000)
• Buyers 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 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, 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 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.
