Mixed Use
A large, 3 storey, mixed use property situated in a highly sought after location.
The property comprises of a ground floor take-away / restaurant premises along with a large, duplex apartment over the first and second floors.
The ground floor unit is well fitted out and let on a lease dated 24th May 2022, continuing the current lease term, which expires on 8th February 2038. The current rent is £17,200 per annum. A rent review was due in February 2023, but no rental increase has yet been implemented.
The first-floor apartment would benefit from some cosmetic modernisation and is offered with vacant possession. The estimated rental income is £1,000 pcm / £12,000 per annum, subject to refurbishment and market conditions.
The total estimated rental value, if fully let, is anticipated to be up to £32,000 per annum, subject to refurbishment, market conditions and succeeding in increasing rent with the current tenant.
Situated in a busy trading location with a range of businesses and high-density housing locally. Close to Masjid Umar Mosque.
Offered Freehold with income from day one.
A rare opportunity to purchase such a property in this location.
Main Seating Area, Kitchen and Prep Area, Store, W.C., Totalling 61.36 Sqm
Entrance Lobby, Lounge, Kitchen, Bathroom, Separate w.c, Bedroom One, Landing, Bedroom 2
Enclosed yard with store and bin store area. Steel staircase giving access to flat.
These sales details are awaiting vendor approval.
Freehold. Part let/part vacant.
- Heating Supply: Double Glazing, Gas
- Electric Supply: Mains Supply
- Water Supply: Mains Supply
- Sewerage Arrangements: Mains Supply
On Street
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 (subject to a minimum of £6,000 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.
