Property description
A Grade II listed Investment Property currently producing £45,000.00 per annum with potential to increase to over £50,000 per annum.
The property lies within a conservation area in a unique building and comprises of a ground floor retail unit together with three newly refurbished self contained flats to the ground floor (1x1 and 2x2 bed). Also to the lower ground floor which has recently been refurbished are several offices, communal kitchen and WC suitable for rental purposes or possible residential conversion.
The ground floor retail unit is let by way of a 5 year lease with 2 years remaining to LPS Property Consultants and the 3 flats are currently let by way of 12 month Assured Shorthold Tenancies. The property benefits from many unique features, original sash windows, electric heating and secure intercom systems. Please note the rent for this unit is due to increase in June to a minimum of £1,350 pcm.
GUIDE PRICES & RESERVE PRICESGuide PriceAn indication of the sellers current minimum acceptable price at auction. The guide price or range of guide prices is given to assist consumers in deciding whether or not to pursue a purchase. It is usual, but not always the case, that a provisional reserve range is agreed between the seller and the auctioneer at the start of marketing. As the reserve is not fixed at this stage and can be adjusted by the seller at any time up to the day of the auction in the light of interest shown during the marketing period, a guide price is issued. This guide price can be shown in the form of a minimum and maximum price range within which an acceptable sale price (reserve) would fall, or as a single price figure within 10% of which the minimum acceptable price (reserve) would fall. A guide price is different to a reserve price (see separate definition). Both the guide price and the reserve price can be subject to change up to and including the day of the auction.
Reserve PriceThe sellers minimum acceptable price at auction and the figure below which the auctioneer cannot sell. The reserve price is not disclosed and remains confidential between the seller and the auctioneer.
Both the guide price and the reserve price can be subject to change up to and including the day of the auction.
Property Features :
- SUTTON KERSH ARE PLEASED TO OFFER FOR SALE BY PUBLIC AUCTION ON : 11-FEB-2016
- LOT NUMBER : 28
- A GRADE II LISTED INVESTMENT PROPERTY CURRENTLY PRODUCING £45,000.00 PER ANNUM WITH POTENTIAL TO IN
- Commercial Investment