Freehold mixed use investment comprising large ground floor retail premises (1237 sq ft, source EPC), let producing £20,800 pa and a duplex flat sold off on a long lease.

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Description/Location

Located in an established parade north east of the city centre, among multiple operators including Iceland, Pizza Hut, Boots Pharmacy, Post Office etc. Let to Barnados for 10 years from 05/05/2015 producing £20,800 pa. Upper parts comprise a 2 bedroom, duplex maisonette, sold off on a long lease for 125 years from 23/11/2015 producing ground rent of £50 pa.

VAT IS NOT APPLICABLE TO THIS LOT

Tenure

Freehold
Energy Rating: C

Office Contact

Please contact Network Auctions on 020 7871 0420

Accommodation

Ground Floor: Retail shop with trade areas and wc. First & Second Floors: 2 bedroom duplex maisonette, not inspected. Sold off on a long lease. Ground rent £50 pa.

Rent

Rent + Ground Rent: £20,850 pa

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Legal documents

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*Guide Price & Reserves

Generally speaking Guide Prices are provided as an indication of each seller’s minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

The “Important Notes For Auction Buyers” at the front of the catalogue includes a definition of “Guide Price & Reserve Price”. All properties are subject to a purchaser’s administration fee of £1,500 + VAT unless otherwise stated in the addendum (£420 inc VAT for lots with guide prices up to £3,000). If the purchaser is liable for any further costs these will be stated within the Special Conditions of the legal pack, that have been produced by the seller’s lawyer, a copy of which can be downloaded from our website.