An excellent investment opportunity situated in a popular central location currently comprising of a ground floor shop, with storage area and staff room (currently let and generating an income of £5,200 pae) with the upper floors being loosely arranged as three units of residential accommodation, with the top floor flat generating £65 per week/£3,380 pae and the two middle floors being currently vacant and offering the potential to increase the overall yield. The property has the benefit of a rear courtyard with the garage currently being let at £20 per week/£1040 pae. Although the property would benefit from a programme of modernisation it will doubtlessly appeal to the career lettings investor and also to builder/developers looking for a post works break-up and resale opportunity.
Property Auctions South West
2 Cotton Street
t. 01395 275 691
2 Cotton Street
Tel: 01395 275 691
An indication of the seller’s 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.
The seller’s 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.
A successful purchaser will also be required to pay a Buyer’s Administration Charge of 1.2% of the purchase price subject to a minimum fee of £1,500 including VAT (unless stated otherwise within the property description in the catalogue) by debit card or bank transfer.
You are bidding on the basis that you have made all necessary enquiries, particularly in respect of lots the auctioneer has not inspected or had initial sight of tenancy details, and have checked the General and Special Conditions of Sale and are satisfied that you fully understand their content. Please note that some legal packs may contain additional fees (such as the requirement for the seller to pay the vendor's legal fees).