B Tobin & P Joseph of Strettons as LPA Receivers
FREEHOLD COMMERCIAL INVESTMENT PLUS VACANT FORMER RESIDENTIAL ACCOMMODATION WITH DEVELOPMENT POTENTIAL
Guide price: £220,000 - £240,000 *
Monday, 27th March 2017 11:00am
Location & Description
A double-fronted mid-terrace property comprising a ground floor shop (trading as two estate agencies) with separate front access to former residential accommodation on basement, part ground and first floor level.
Occupying a prominent position on the west side of the High Street, close to a Budgens, Lloyds Pharmacy and a variety of local traders all serving the surrounding residential area.
ACCOMMODATION (Based on VOA website)
Ground Floor: 683 sq ft (63.5 sq m)
Let on a business lease to John Hayes and Patrick Kavanagh for 10 years (less 1 day) from 01.10.2014 at a current rent of £17,000 p.a. rising to £18,000 p.a. on 01.10.2017 and £19,000 p.a. on 01.10.2018.
Rent review 01.10.2019.
Tenant’s break at the end of the 5th year on 6 months’ notice.
Former Residential Accommodation:
Arranged on basement, part ground & first floor level.
EQUIVALENT TO £17,000 p.a. (RISING) PLUS VACANT FORMER RESIDENTIAL ACCOMMODATION WITH DEVELOPMENT POTENTIAL
Sold for £238,000
The Office Copy Entries show that the passageway between 32 and 34 High Street is within the freehold Title of No.32 but we understand that No.34 has acquired, by long use, a right of way over this to their upper part.
* 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.