Garages
A substantial site comprising 34 garages and 16 shipping containers, currently part let benefiting from a gross income of £38,580pa. The garages are located off Finch Lane close to the junction with Yew Tree Lane. Yield at guide over 13% with scope to increase rents and let void units.
We have been advised that some of the tenants have been in occupation for 15+ years with a generally low tenant turnover and advise interested parties to inspect the legal pack for more information.
The site has been recently refurbished to a good standard of repair. We have been advised new doors, guttering, roofing were recently fitted which reduces the maintenance required.
There is a secure coded access with entrance adjacent to 312 Finch Lane with a yard to the front of the units.
Rent Roll
Unit Rent PCM
1{tab}75
2{tab}75
3{tab}void
4{tab}75
5{tab}75
6{tab}75
7{tab}75
8{tab}75
9{tab}75
10{tab}75
11{tab}75
12{tab}void
13{tab}75
14{tab}75
15{tab}75
16{tab}75
17{tab}75
18{tab}75
19{tab}75
20{tab}75
21{tab}75
22{tab}75
23{tab}75
24{tab}75
25{tab}75
26{tab}75
27{tab}Void
28{tab}75
29{tab}55
30{tab}75
31{tab}75
32{tab}75
33{tab}75
34{tab}75
35{tab}65
36{tab}65
37{tab}65
38{tab}65
39{tab}65
40{tab}55
41{tab}65
42{tab}65
43{tab}65
44{tab}65
45{tab}55
46{tab}55
47{tab}65
48{tab}65
49{tab}65
50{tab}65
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. 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. 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.
