FOR SALE by ONLINE AUCTION on WEDNESDAY, 22nd MAY 2024, at 1:00 pm - GUIDE PRICE £45,000 - £50,000
DESCRIPTIONThis part let investment opportunity is a traditional mid terraced mixed use building set within a small parade of neighbourhood shops and comprises a ground floor lock up shop unit with the remainder of the building divided into two one bedroomed flats. A larger first floor flat, along with the shop, is vacant and these parts could readily be occupied as a live-work unit although are currently each self contained and separated. Upgrading of the living accommodation is required. The rear ground floor living space is let on an assured shorthold tenancy and we understand the rent passing is £3,900 per annum.
LOCATION
Corporation Road is a busy thoroughfare under a mile north west of the town centre and a short distance from the A180, leading to the motorway network. The locality is a mixture of housing and business premises.
RETAIL UNIT
Sale shop, kitchen with sink unit and separate WC.
Ground Floor Flat: (Not inspected.) Understood to comprise a bedroom, kitchen, living room and bathroom.
First Floor Flat: Landing, living room, bedroom, bathroom / WC and kitchen.
EXTERNAL
Access to the flats is via a rear right of way and shared yard area which also contains a store building (approx. 80 sq. ft. / 7.4 sq. m.).
Tenure: Freehold, subject to existing tenancy on the flat.
Services: All mains services are connected to the property. None of the services or installations have been tested.
Business Rates: Rateable value £2,475.
Council Tax: Council Tax is payable to the North East Lincolnshire Council. Each of the flats are shown in the Council Tax Property Bandings List in Valuation Band A (verbal enquiry only).
Viewing: Strictly by appointment through our Beverley Office on 01482 866844.
Method of Sale
The property will be offered for sale by online auction with bidding commencing at 12 noon on Monday 20th May 2024 and closing on Wednesday 22nd May at 1.00pm. For further legal information relating to this lot please log on to auctionhouse.co.uk/hullandeastyorkshire.
Conditions of Sale
The property will be sold subject to conditions of sale, copies of which will be available for inspection at the auctioneer’s offices, with the solicitors and on-line at auctionhouse.co.uk/hullandeastyorkshire prior to the date of the auction.
Additional Fees
The purchaser will be required to pay an administration charge of £900 (£750 plus VAT) and a buyer’s premium of 1.2% of the hammer price (1% plus VAT) subject to a minimum of £900 (£750 + VAT) in addition to the purchase price of the property.
Guide Price
Guides are provided as an indication of each sellers 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.
Disbursements
Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.
Solicitor
Squire Patton Boggs (UK) LLP, Rutland House, Birmingham, B3 2JR. Telephone: 01212 223393. Email: katie.norris@squirepb.com
Joint Agent
Sanderson Weatherall, The Chancery, 58 Spring Gardens, Manchester, Lancashire, M2 1EW.
Online bidding
If you want to bid on this property, copy and paste the link below into your URL bar or into a Google search and it will take you to a video that explains the process: youtube.com/watch?v=ImXr4HXR36c
Tenure : Freehold
Council Tax Band : A
- For Sale by online auction
- Bids close Weds 20 March
- Part let investment
- Vacant shop approx 300 sq ft/28 sq m
- 1 Flat above vacant
- Rear flat let at £3,900pa
- Neighbourhood parade
