17 Norfolk Street, Wisbech, Cambridgeshire, PE13 2LF
- PROPERTY TYPE
Mixed Use
- BEDROOMS
5
- SIZE
Ask agent
Description
For sale by unconditional online auction, registration is now open. Bidding opens on 30/11/2023 10:00 and ends on 30/11/2023 12:15.
For sale by online auction on 25th January 2024
Bidding opens at 10:00am and closes from 12:00 noon
Mixed use premises
Ground floor retail shop unit - tenanted
HMO for 7 people - all rooms are tenanted
HMO element is band A council tax
Current annual income of £24,960
Georgian market town location
Also known as 2 Norwich Street, PE13 2LE.
A split-use premises situated in the Georgian Town of Wisbech.
The ground floor shop has a tenant in place paying £6000 per annum and the 5 bedroom HMO is bringing in current annual income of £24,960.
Total annual income £30,960. Which equates to an annual yield of 22.11% based on this guide price.
The remainder of the building has appropriate facilities for the HMO use. This includes a laundry room, store room, shower rooms, and kitchen to serve 5 Rooms (The relevant planning applications for reference are F/YR/7/0362/F and F/YR/7/3109).
The HMO is currently licensed for 7 x people. Current room rates are as follows:
Room 1 - 110 per week.
Room 2 - 80 per week.
Room 3 - 110 per week.
Room 4 - 80 per week.
Room 5 - 100 per week.
The vendor believes there to be potential to increase room rates as reviews have not been carried out.
Lease information -
Ground Floor Shop
From Rateable Value information:
Net Internal area 290 sq.ft (26.94 sq.m)
The location is the secondary shopping area within Wisbech. It is a vibrant area with many independent businesses. The majority of the commercial premises in this area have residential units above and as such, the HMO element of this site, fits in well to the surrounding area.
The auctioneers have not inspected this property.
Terms
Legal Pack
To review the legal documents and to view the auction information click on the buttons at the bottom of this advert or visit our website tcpa.co.uk
UNCONDITIONAL LOT
Exchange and administration fee information: (plus fees)
Buyers Premium Applies upon the fall of the hammer, the Purchaser shall pay a 10% deposit (subject to minimum of £5,000, whichever is the greater) and a 5%+VAT (subject to a minimum of £5,000+VAT) buyers premium and contracts are exchanged. The purchaser is legally bound to buy and the vendor is legally bound to sell the Property/Lot. The auction conditions require a full legal completion 28 days following the auction (unless otherwise stated in the legal pack or on the sales details).
In addition to the purchase price, buyers may be required to pay additional fees, costs and charges - please refer to the legal pack.
Registration Process
To register to bid on the property, find the property on the Town & Country Property Auctions website. Click onto the property, follow the link to “Log in/ register to bid”. You will then be directed to create an auction passport account with our online-bidding platform provider Essential Information Group.
Brochures
Legal DocumentsOnline Bidding17 Norfolk Street, Wisbech, Cambridgeshire, PE13 2LF
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- March Station7.7 miles
About the agent
Town and Country Property Auctions, London
Dixcart House Addlestone, KT15 2LU
Town & Country Property Auctions London is part of the nationwide Town & Country Property Auctions group. Our professional and enthusiastic approach, and with longstanding contacts, makes us leaders within the industry.
Our dedicated team of experts, with years of auction experience, provides unrivalled service in all aspects of sales and marketing on all auction properties.
Providing high levels of professional advice and customer service, to sellers and buyers alike, our expandi
Industry affiliations
Notes
Disclaimer - Property reference 227358. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Town and Country Property Auctions, London. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.
Auction Fees: The purchase of this property may include associated fees not listed here, as it is to be sold via auction. To find out more about the fees associated with this property please call Town and Country Property Auctions, London on 01932 548500.
*Guide Price: An indication of a seller's minimum expectation at auction and given as a “Guide Price” or a range of “Guide Prices”. This is not necessarily the figure a property will sell for and is subject to change prior to the auction.
Reserve Price: Each auction property will be subject to a “Reserve Price” below which the property cannot be sold at auction. Normally the “Reserve Price” will be set within the range of “Guide Prices” or no more than 10% above a single “Guide Price.”
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