Located in a parade of commercial units and having been in use for many years as a fast food outlet, this freehold investment is currently let to a tenant under the terms of a 36-year lease at a current rent of 7,800 per annum.
If the unit were to be vacated at any point in the future, it is considered there may be scope and potential for conversion of the unit to form residential accommodation, subject to all necessary consents being obtainable.
Commercial Tenancy Let under the terms of a 36-year lease, from 24th May 1993 until 23rd May 2029, at a current rental of 7,800 per annum.
EPC Rating B (42). Total Floor Area 63 sq.m.
Residential Tenancies Flats 1 and 2 are both sold under the terms of long leases and are paying a ground rent of 100 per annum per flat. Copies of the respective leases will be available to view as part of the legal documents, available to download from the Clive Emson website.
Auctioneer's Note Section 5B Notices under the Landlord & Tenant Act 1987 (as amended) have been served and the leaseholders have not reserved their rights under the legislation.
Local Planning Authority BCP Council. Tel: 01202 123321. Website: bcpcouncil.gov.uk.
Auctioneer's Note The internal photographs have been supplied by the seller and prospective purchasers are advised to rely on their own enquiries.
Commercial EPC: B
Important: All lots are sold subject to the Common Auction Conditions and Special Conditions of Sale (unless varied by the Sellers Solicitors), together with the Addendum, which will be available on the Auction Day.
Price Information *Guides are provided as an indication of each Seller's minimum expectation. They are not necessarily figures at which a property will sell for and may change at any time prior to Auction. Unless stated otherwise, each Lot will be offered subject to a reserve (a figure below which the Auctioneer cannot sell the Lot during the Auction). We expect the reserve will be set within the guide range or no more than 10% above a single figure guide. Please check our website regularly at www.cliveemson.co.uk, or contact us on 01622 608400, in order to stay fully informed with the up-to-date information.
*An Administration fee and Other non-optional fees may also be payable in addition to the bid price. All lots are offered subject to the Common Auction Conditions and Special Conditions of Sale or Revised Special Conditions of Sale (as applicable) and may include the repayment of search and other fees and or costs payable by the buyer. All buyers are advised to inspect all available legal documentation prior to bidding and will be deemed to fully understand what they may be liable for if they are successful in purchasing. This should also include Stamp Duty, Land Registry fees and VAT which may become payable on completion in line with any property transaction, whether it is by auction or private treaty. If, as a buyer, you are in doubt you should seek advice from your own professional advisors. For more information on fees please go to www.cliveemson.co.uk/buyers-fees/
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