Withdrawn prior to auction

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A freehold mixed use investment comprising a ground floor commercial unit (1011 sq ft, source EPC) and 2 x 2 bedroom flats (one held on a long lease), let producing £18,400 pa.

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Description/Location

Situated in the pedestrianised main shopping area with access to the rear via Tibworth Road. The ground floor is let for 10 years from 01/03/2021 at £10,000 pa with a review at the 5th anniversary, a rent deposit and a rent-free period until 24/06/2021. The flat to the rear is let on an AST producing £700 pcm. The upper flat is held on a lease for 999 years from 28/09/2018 at a peppercorn ground rent.

Tenure

Freehold. Energy Ratings: C (13), E (13B).

Local Authority

Havant Borough Council

Viewing

Please contact Elliott Network Auctions on 01923 240420

Accommodation

13 Ground Floor: recently refurbished providing large open plan retail area with kitchenette and cloakroom/wc. 13 B Ground Floor: 2 bedroom flat (462 sq ft, source EPC) let on an AST producing £700 pcm. 13 A First and Second Floors: 2 bedroom flat held on a long lease. Outside: Secure yard.

Rent

Rent: £18,400 pa

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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.