SOLD PRIOR TO AUCTION - MORE REQUIRED! A detached mixed use property offering an attractive yield and significant potential for further residential development to the rear, subject to planning.

A substantial investment/development opportunity offering circa 10% gross annual yield

This is a substantial mixed use property comprising a pair of intercommunicating retail units at the front of the property, with first floor offices above. To the rear of the ground floor is a self-contained 1 bedroom flat and a further self-contained office unit. Outside there is gated yard as well as additional parking to the front and rear. A side lane provides vehicular access to the rear of the property. Based on recent nearby developments there is significant scope development of the back yard and offices or in deed whole sale redevelopment of the entire site.

Currently let at £31,800 per annum this an attractive mixed use investment offering a gross annual yield of circa 10%, based on the guide price. The property benefits from vehicular access to the side from a lane which leads to parking area for several vehicles and access to a gated yard. There is significant scope for development to the rear of the property or indeed total redevelopment of the entire site.

Front Offices Let to Hunters Estate Agents on a 3 year lease from September 2022 at £1,400 PCM.
The accommodation comprises:

Unit 1 ( Right hand side) Suspended ceiling, air con, UPVC shop front 8.37m x 3.0m (including internal office)

Unit 2 (left hand side) Suspended ceiling & air con. 6.08m x 4.11m plus 1.46m x 0.9m

Lobby. Staircase to FF. Door to rear shared lobby

Kitchenette 3.06m x 1.47m Double glazed bay window to rear. Sink & cupboards.

First Floor Landing
Room 1 (front) 5.16 to max x 3.09. Electric panel heater.

Room 2 (rear) 5.0 to max into bay x 3.09m

Room 3 (front) 4.17m x 3.72m, Electric panel heater. Arch to Room 4 (side) 3.45m x 2.35m. Electric panel heater.

Cloak/wc x2

Room 5 (side) 3.70m x 3.20m door to

Room 6 (side) 3.24m x 2.57m used as store.

Rateable Value
Current rateable value (23 September 2019 to present) £7,700
Ground floor rear flat A 1 bedroom ground floor flat, recently let on a 6 moth AST at £800 pcm

Approached via gated entrance from the righthand side of the property and from the rear yard:
Communal entrance lobby providing access to the flat and rear entrance to the offices.

Living room 5.45m x 1.97m with bedroom and bathrooms off. Arch leading to

Dining Room 2.40m x 3.82m with door to

Kitchen 3.25m x 1.95m Fitted units

Bedroom 2.52m x 3.18m

Bathroom: Bath & wash basin with separate cloakroom/wc.

Gas fired central heating

Council Tax Band
Band A

Rear Office A single storey rear extension let as offices, currently producing £1,350 per quarter.
Not inspected by the auctioneers. We understand the total floor area measures 42.6 sqm.

Rateable Value
Current rateable value (1 April 2017 to present) £4,150
Outside To the front of the property is a parking area for 3-4 cars. To the side of the property a lane provides vehicular access to a further parking area as well as gated access to a rear yard.
Viewing By appointment with City & Rural Property Auctioneers. We will require at least 48 hours' notice to arrange a viewing between Christmas and New Year.
For Sale by Live Stream Auction on 18th January In order to take part you must complete the registration form and return it together with two forms of ID. You will then be able to bid from the luxury of your own home either over the internet, by phone or by proxy. Please note the auctioneers have made their best endeavours to disclose all additional fees. Interested parties should refer to the special conditions of sale contained in the Legal Pack for any late amendments or additions to these fees as well as the auction day addendum sheet prior to bidding.
Legal Pack A full auction legal pack can be downloaded once available. For further information on the other lots in this auction please visit the website.

Tenure: Freehold

EPC Rating: Shops & Offices - D. Flat - D

Terms:
Guide Prices & Reserves
Guides 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. Each 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.

Additional Fees
Please be aware there may be additional fees payable on top of the final sale price. These include and are not limited to administration charges and buyer's premium fees payable on exchange, and disbursements payable on completion. Please ensure you check the property information page for a list of any relevant additional fees as well as reading the legal pack for any disbursements.

Plans, Maps and Photographs
The plans, floorplans, maps, photograph’s and video tours published on our website and in the catalogue are to aid identification of the property only. The plans are not to scale and should not be relied upon.

Consumer Protection Regulations 2008
City & Rural Property Auctions endeavour to make our sales details clear, accurate and reliable in line with the Consumer Protection from Unfair Trading Regulations 2008 but they should not be relied on as statements or representations of fact, and they do not constitute any part of an offer or contract. All references to planning, tenants, boundaries, potential development, tenure etc is to be superseded by the information contained in the legal pack. It should not be assumed that this property has all the necessary Planning, Building Regulation, or other consents. Any services, appliances and heating system(s) listed have not been checked or tested. Please note that in some instances the photographs may have been taken using a wide-angle lens. The seller does not make any representation or give any warranty in relation to the property, and we have no authority to do so on behalf of the seller.

Anti Money Laundering Regulations
Intending buyers will be asked to produce identification documentation either as part of the bidder registration process of if they make an acceptable pre-auction offer, we would ask for your co-operation in order that there will be no delay in agreeing the sale.

Control of Asbestos Regulations
As per the Control of Asbestos Regulations 2012, the owner or tenant of the property, or anyone else who has control over it and/or responsibility for maintaining it, must comply with the regulations which may include the detection of and/or management of any asbestos or asbestos related compounds contained at the property. City & Rural Property Auctions have not tested or inspected for Asbestos and therefore recommend all interested parties to make their own enquiries.

Administration Fee: 0.3% inc VAT of the purchase price, subject to a minimum of £1500 inc VAT, payable on exchange of contracts.

Disbursements: Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.