Unsold, please refer to the auctioneer

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A 2 storey mixed use building comprising 3 self contained retail units (2 let) and 2 flats sold off on leases. Freehold.

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Description/Location

This well presented building currently produces rent and ground rent equivalent to £6540 pa. The vacant unit (12) is well presented and ready for occupation, we estimate a rental value of £200-£250 pm which would increase the collective annual rent to £8940 - £9540 pa. The commercial tenants occupancy pre-dates the new leases.

Tenure

Freehold

Local Authority

East Lindsey District Council

Viewing

Network Auctions - 020 7871 0420

Accommodation

Unit 12: GF. 19 sqm / 204 sq ft, energy rating C. Vacant office / retail space, ERV £200 - £250 PM. Unit 14: GF. 33 sqm / 355 sq ft, energy rating C. Let for 5 years from 01/06/2022 at £320 pm. Unit 16: GF. 16 sqm / 172 sq ft, energy rating D. Let for 5 years from 01/06/2022 at £200 pm. Flat 14a: FF. 33 sqm / 355 sq ft, energy rating F. Held on a lease for 125 years from 2022, ground rent £150 pa. Flat 16a: FF. 41 sqm / 441 sq ft, energy rating G. Held on a lease for 125 years from 01/01/2020, ground rent £150 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.