24 January 2024: Wednesday 24 January 2024 - 9:00am
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    Key features

    • High Yielding Retail Investment
    • Producing £15,000 per annum
    • Set Within Established Parade
    • Asset Management Potential
    • Freehold Property
    • Guide Price Reflects 18% Gross Yield
    • No VAT

    Description

    The property comprises a mid-terrace commercial property arranged over two floors also benefiting from a rear courtyard.. The ground floor is currently let and used as a barber shop with the first floor having a large ancillary space. The property is likely to be of interest to investors

    The property is situated in a prominent position on the south side Middle Street in the heart of the town centre and some 50 metres south of the Quedam Shopping Centre. Nearby occupiers include Boots, Waterstones, Specsavers, Nationwide and Ladbrokes.

    Additional information

    Tenure

    Freehold

    Accommodation

    Ground Floor: Retail area, storage, WC's


    First Floor: Landing, hallway and open ancillary space with kitchen area


    Outside: Rear courtyard


    Total area: 775 sq ft (72 sq m) (Areas obtained from the VOA)

    Tenancy

    Property is let on a five-year lease from 1st November 2020 to 31st October 2025 at a current rental of £15,000 per annum

    Rent

    £15,000 p.a.

    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.

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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

      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