THIS PROPERTY IS FOR SALE BY THE MODERN METHOD OF AUCTION *** FOR SALE BY MODERN METHOD OF AUCTION - RESERVATION FEE APPLIES STARTING BIDS £55,000 The premises comprise of a ground floor retail unit, previously utilised as a cafe and a first floor self contained flat with a tenant paying £325 pcm on an assured shorthold tenancy.
The retail unit has historically obtained an income iro £400 per month.
The unit provides 56 sq metres (approx) 603 sq ft (approx) and comprises of cafe/ retail area, kitchen and wc/toilet.
Suitable for a variety of uses subject to planning permission).
Neighbouring occupiers include, council offices, general store, A5 takeaway and hairdressers.
56 sq metres (approx) 603 sq ft (approx)
Freehold Mixed Use
Vacant Ground Floor Retail Unit
Ist Floor Flat (with own entrance)
Tenant income of £325 pcm
Starting Bids £55,000
Enquiries regarding the rateable value and details of precise amounts payable should be directed to the relevant Local Authority.
For Sale Freehold by the modern method of auction
The ingoing purchaser/tenant will be responsible for our Client's reasonable legal costs incurred in connection with this transaction together with any Stamp Duty and VAT where applicable.
All offers where made silent of VAT are deemed to be made exclusive thereof.
All measurements are approximate and are for guidance purposes only.
This property is for sale by the Modern Method of Auction which is not to be confused with traditional auction.
The Modern Method of Auction is a flexible buyer friendly method of purchase.
We do not require the purchaser to exchange contracts immediately, but grant 28 days to achieve exchange of contracts from the date the buyer's solicitor is in receipt of the draft contracts and a further 28 days thereafter to complete.
Allowing the additional time to exchange on the property means interested parties can proceed with traditional residential finance.
Upon close of a successful auction or if the vendor accepts an offer during the auction, the buyer will be required to put down a non-refundable Reservation Fee of 3.5% subject to a minimum of £5,000 plus VAT which secures the transaction and takes the property off the market.
The buyer will be required to sign an Acknowledgment of Reservation form to confirm acceptance of terms prior to solicitors being instructed.
Copies of the Reservation from and all terms and conditions can be found in the Legal Pack which can be downloaded for free from the auction section of our website or requested from our Auction Department.
Please note this property is subject to an undisclosed reserve price which is generally no more than 10% in excess of the Starting Bid, both the Starting Bid and reserve price can be subject to change.
Terms and conditions apply to the Modern Method of Auction, which is operated by The Great North Property Auction powered by iam-sold Ltd
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