Retail Property (High Street)
A freehold investment opportunity comprising of 5 commercial units and associated land and parking.
Well placed in a popular and sought after location with good road frontage to two aspects.
The units sit on mainly on a tarmac site which provides parking for 10-12 cars.
Offered with 4 units let with an income of £36,000 per annum. Income once fully let is £48,000 per annum.
Unit 1- Ground Floor Retail Unit- Let at £1000 pcm.
Unit 2- First Floor Office Space (arranged as a two bed flat) Let at £500 pcm.
Units 3 & 4 -A large ground floor retail unit let as mini supermarket at £1500 pcm
Unit 5- First Floor Retail / Showroom Space- Vacant but in negotiations to be let at £1000 pcm.
A superb investment opportunity offering a potential yield in excess of 10% with income from day one.
Let at £1000 pcm on a 6 year lease. Main retail area with display windows to two aspects. Staff Room, Large Store Room and Toilet.
Let at £500 pcm on an assured shorthold tenancy. Spacious accommodation currently arranged as a 2 bedroom flat. Landing, Lounge/Diner, Kitchen, Bedroom One, Bedroom Two, Office, Shower Room.
Let at £1500 pcm on a 3 year lease. We are informed the tenants would sign a longer lease. A spacious sale shop area with numerous large stores, office, w.c and walk in fridge/cold room.
A new lease is about to be assigned at £1000 pcm. The auctioneers have not inspected this unit internally but believe it to comprise - Show Room, Service Area and large store.
The site has road frontage and vehicle access to both Church Road and Ollerton Road. There is parking to the front and side along with further parking to the rear to total around 10-12 spaces
These sales details are awaiting vendor approval.
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 under and 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 fee apply:
• 10% deposit (subject to a minimum of £5,000)
• Buyers Fee of 1.2% of the purchase price (subject to a minimum 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, 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.
