Town centre freehold building comprising ground floor commercial premises (1173 sq ft, source EPC), let producing £20,000 pa. The upper parts comprise 4 x self-contained flats (sold off) producing combined ground rent of £400 pa.

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Description/Location

The ground floor is let to Consul Tanning Ltd (operating 50+ sites across the UK) for 10 years from 07/09/2018. A tenant-only break clause at 5 years was not exercised and a rent review from 2023 was not actioned. The flats are held on leases for 125 years from 01/05/2022, each producing £100 pa (rising to £200 pa 01/05/2027). We refer bidders to the copy S5B Notices served on the lessees who have not taken up their rights.

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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.