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Lot 29 - 27 Hitchin Street, Biggleswade, Bedfordshire, SG18 8BE

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B Tobin & P Joseph of Strettons as LPA Receivers

FREEHOLD COMMERCIAL INVESTMENT, VACANT REAR DERELICT BUILDINGS & REVERSIONARY GROUND RENT

Guide price: £120,000 - £125,000 *

Auction Date

Monday, 27th March 2017 11:00am

Location & Description

A two storey mid terraced property comprising a ground floor shop with separate rear access to a first floor flat plus rear vacant derelict buildings.
Forming part of a local parade just south of the town centre and about ¼ mile from Biggleswade mainlne station. Biggleswade has good road links via the A1 and lies about 12 miles east of Bedford and 45 miles north of London.

ACCOMMODATION (Based on VOA website)

Ground Floor Shop:
1,224 sq ft (113.7 sq m)
Let on a repairing and insuring lease to Melissa Crane (trading as a beauty salon) for 12 years from 01.09.2014 at a current rent of £11,000 p.a. rising to £12,000 p.a. on 01.09.2017.
Tenant's break 01.06.2018 on six months' notice.
Rear Derelict Buildings:
Not measured. Offered VACANT
First Floor Flat (27a):
Sold on a 99 year lease from 01.07.1985 (about 67 years unexpired) at a fixed ground rent of £50 p.a.

EQUIVALENT TO £11,050 p.a. (RISING) PLUS VACANT REAR DERELICT BUILDINGS & REVERSIONARY GROUND RENT

P

EPC Rating

D

Result

Sold for £162,000

Addendum

Title Plan takes priority over that in the catalogue. The ground rent from the flat is £25 p.a. Therefore the equivalent rent is £11,025 p.a.

* The Notice to Bidders, which can also be seen on the inside front cover of the hard copy catalogue, includes a definition of Guide Price [section #17] Note that in addition to the purchase price there is a buyer’s administration fee [section #13] and there may be additional non-optional fixed or variable fees and costs [section #8]. To establish the full cost of purchasing a property, please inspect the legal documentation/special conditions. Please also check strettons.co.uk for updates.

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* The Notice to Bidders, which can also be seen on the inside front cover of the hard copy catalogue, includes a definition of Guide Price [section #17] Note that in addition to the purchase price there is a buyer’s administration fee [section #13] and there may be additional non-optional fixed or variable fees and costs [section #8]. To establish the full cost of purchasing a property, please inspect the legal documentation/special conditions. Please also check strettons.co.uk for updates.