Property description
A three storey plus basement mixed use commercial and residential investment oppurtunity comprising a former public house which is currently operating as a 13 bedroom guest house achieving an annual income of £58,240.00, with an additional annual income of £7,920.00 from the ground floor Cafe which is let by way of a 15 year lease with 4 years remaining. Total annual income £66,160.00 achieving a gross annual yield of over 30% based on the current guide price.
The property benefits from fire alarms, emergency lighting system, and fire doors all to HMO standard. The property also has some Victorian period features, and the residential element has recently undergone a complete decorative renovation.
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 : 29-OCT-2015
- LOT NUMBER : 90
- Commercial Investment