2 July 2025: Wednesday 02 July 2025 - 9:00am
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Floorplan
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    Key features

    • A freehold property
    • Ground floor retail unit is let on a lease of 10 years from 2023
    • Same business c.1960 t/a Hair Mecanix
    • Studio flat above let on an AST protected by the council under a rent guarantee scheme
    • Land at the rear also let to commercial tenant
    • Planning permission lapsed for a further 2 flats to the rear
    • Located on the high street
    • Not elected for VAT.
    • Investment let at £22,400 per annum (11.78% GIY on guide price)

    Description

    A freehold property arranged as a ground floor retail unit with land at the rear and a studio flat above.

    Planning permission lapsed for a further 2 flats to the rear.

    Investment let at £22,400 per annum (11.78% GIY on guide price).

    Please refer to the Tenancy section for more information.

    Additional information

    Tenure

    Freehold

    Tenancy

    Ground floor retail unit let to a private individual t/a as Hair Mecanix for a term of 10 years from 2023 for £10,500 per annum paid quarterly. Holding deposit of £2625 (3 months rent).

    Additionally, the rear land is currently let to the shop tenant on a licensing agreement for £1,400 per annum paid quarterly in advance. 

    First floor studio flat let on an Assured Shorthold Tenancy for £10,500 per annum. Agreement is protected by the council under a rent guarantee scheme.

    Rent

    Investment let at £22,400 per annum.

    Notes

    Please note the areas provided are approximate. The photos and any drawings are for illustrative purposes only and may not reflect the exact boundary of the property. The property has not been internally inspected by Savills. Prospective purchasers must rely upon their own enquiries in this regard. Please refer to the legal pack.


    Additional charges and fees might be charged by the seller and/or other third parties. You are strongly advised to read the Special Conditions of Sale for the Lot prior to bidding to check for any additional charges and fees.

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      All viewings at this property have now taken place prior to the auction. For further information on the property please download the legal pack or email the property contact.

      Savills are not holding any viewings for this property. For further information please download the legal pack or email the relevant Savills Contact directly.

      Viewings are in the process of being finalised and will be online shortly, please click here for a notification when they go online.

      No set viewings will be available on this property prior to auction due to the tenants in situ. Please refer to the legal pack for further information.

      No set viewings will be available on this property prior to auction due to safety concerns within the property. Please refer to the legal pack for further information.

      There are no formal viewings for this property. You can visit during commercial trading hours as a customer.

      Local information

      The property is located on the North side of Queen's Street, which is accessed from Withersfield Road and Hamlet Road. Nearby occupiers include Costa Coffee, Iceland, Greggs, Papa Johns, Premier and many other independent shops, restaurants and cafes.

      Transport

      Road links via A143 and A1307.

      Legal documents

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      EPC rating

      If no EPC rating appears please refer to the legal pack.

      Guide prices and common auction conditions

      •Guide prices given are indications within 10% upwards or downwards of where the reserve price may be set at the time of going to print. Please note they are not an indication of the anticipated sale price or a valuation.

      •The reserve price is the minimum price at which the property can be sold.

      •Both the guide price and reserve price may be subject to change up to and including the day of the auction.

      •For unsold properties after an auction an Available price may be listed. This is the price that the seller(s) are looking for post auction, subject to contract and no higher offers, and has no relation to the guide prices listed prior to the auction sale.

      Please note that all prices listed, whether prior to or post auction, are subject to contract.

      The Auctioneers and sellers accept no responsibility for any loss, cost or damage that a buyer may incur as a result of relying on any guide price. It is the buyer's responsibility to decide how much they should bid for any lot. Please check with us for regular updates as guide prices are subject to change prior to the auction.

      The guide price does not include the buyer's fee charged by the auctioneer or VAT which may apply to the sale or other amounts the seller may charge. The seller's Special Conditions of Sale will state whether there are other seller's charges and whether the seller has elected to charge VAT on the sale price.

      Addendums