High Street, Biggleswade, SG18

Mixed use building with ground floor shop and 2 flats above converted to HMO’s.

Offered for sale by auction as 2 lots. Both to exchange and complete simultaneously.

In Brief: Located on the high street this building provides an ideal investment opportunity with a vacant lock up shop on the ground floor with 2 2bedroom flats above converted into an HMO providing 6 rooms.

The Shop: No 24. Offers an open plan retailing area with stock rooms and access to basement rooms providing storage and or office space. Kitchen and toilet. Over all the premises is approximately 1,437 Sq. Ft. (Net) with the retailing area about 676 Sq. Ft.

Guide price £225,000

Uppers: No 24A. Option to buy the uppers. 2 by 2-bedroom flats set up as a HMO (Homes of Multiple Occupation) for 6 dwellings generating about £47,400 Gross per annum. 6 rooms, communal facilities in each flat. Each room pays for own heating and electric. Available to buy under action conditions to exchange and complete simultaneously with the shop.

Guide price £550,000

Tenure: Freehold. With lease granted to the residential units above. Expiry date: 18-09-3016 with zero ground rent.

EPC: The shop. Rated ‘C’ valid until 26th June 2035. The Uppers TBC

Rates: The VOA website provides a rateable value of £19,500

VAT: All prices quoted exclusive of VAT

Viewing: By appointment in the first instance via Satchells.

Agents notes: The building is being offered for sale as a whole by two owners working together hence the reason for two auction lots. It is proposed that you can purchase both simultaneously via the auction or under auction conditions.

Sale by Auction: Working in partnership with ‘THE PROPERTY AUCTION GROUP’ all interested parties wishing to make a bid will be referred to our partner agent. You can register to bid on the property and see further guidance and terms of buying through an auction on the ‘THE PROPERTY AUCTION GROUP’ website.

To see the listing for the shop on the ‘PROPERTY AUCTION GROUP’ website and register please see the link below.

Buyer’s Premium for shop: £5,000 + VAT. £6,000 including VAT.

Buyer’s Premium for uppers: £6,000 + VAT. £7,200 including VAT.

Potential Tenant: The current owners advise of interest of prospective tenant with a draft lease in the region of £25,000. For further information, please contact Satchells.

AML/ID: As agents, we are legally required to verify the identity of all individuals and companies, along with their sources of finance, for any sale, purchase, lease, or licence arranged through us. All clients therefore are required to complete a company and personal ID/AML/Sanctions check via our third-party provider. Costs range from £35–£60 plus VAT per person, depending on the client and company structure involved