Office
An investment opportunity located along Castle Street currently producing £29,000 pa income from 4 tenants on the second floor of a three-storey building.
The property comprises a 1970s three storey building with retail to the ground floor, offices to first and second and apartments to the third floors.
The lot includes 4 offices on the second floor (the whole floor) on a 999 lease. Circa 7,632 sq. ft. of office space in total.
Suite 4:
Open plan office area with 7 partitioned off offices. Kitchen, male female WC, disabled WC. GIA 2995 sq. ft. approx.
Suite 5a (1)
Open plan office area with partitioned office rear access to fire escape.
GIA 1313 sq. ft. approx.
Suite 5a (2)
L shaped open plan office with partitioned off male/female WCs.
GIA 1797 sq. ft. approx.
Suite 5b
2 partitioned off offices, open plan L shaped office area, kitchen with rear fire escape. Communal cloaks and WCs (at the ground floor)
GIA 1527 sq. ft.
Interested parties are advised to inspect the legal pack for lease details.
The property is situated fronting Castle Street which is the main pedestrianised shopping Steet in Hinckley with the area being predominantly retail with some office use. The property also fronts Market Place and has rear access to a private car park, accessed from Church Walk. Hinckley itself has good communication links northwards via the A5 to Tamworth and the M42, Southwards via the A5 to Rugby, Daventry and Northampton, eastwards via the M69 to Leicester and Westwards to Coventry and the M6. Hinkley railway station is 1/2 mile away.
Any ground rent and service charge review periods will be confirmed in the lease documents within the legal pack.
These sales details are awaiting vendor approval.
Leasehold. 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 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.
