Garages
A block of 31 single garages standing on a level rectangular site.
The garages are let and give a combined rental income of around £8,000 per annum.
There is scope for rental increase and the estimated market rent should be in the region of £20,000 per annum.
Accessed via a secure gate the land is well placed in a popular residential location, with a plentiful supply of local amenities and excellent transport links.
Development potential subject to required permissions. Prospective buyers are advised to make all necessary independent enquiries prior to placing their bid as this will be binding.
The land is registered as Land and buildings on the North West side of Belmont Street and on the South East side of Hereford Road, Leicester (title number - LT7433).
These sales details are awaiting vendor approval.
Freehold. Subject to tenancy.
Garage
Auction Details
The sale of this property will take place on the stated date by way of Auction Event and is being sold under an Unconditional sale type.
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.
