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    Key features

    • To be offered on Tuesday 29 October
    • High Yielding Mixed Use Investment
    • Retail Unit and Nine Residential Units
    • Fully Let to Separate Tenants
    • Asset Management Potential
    • Investment Let at £110,071 p.a. (13.95% GIY on Guide Price)

    Description

    The property comprises a high yielding, fully let, mixed use investment situated on a popular high footfall street.

    Arranged across ground, first and second floors, the property comprises a retail unit to the ground floor which is let on a recently renewed lease expiring 03/10/2027 and producing £8,400 per annum.

    To the rear, there is a residential unit with three ensuite letting rooms. These rooms are let individually to separate tenants with a shared kitchen.

    The upper parts comprise an HMO with a further six units which are all individually let. Each unit benefits from an ensuite and kitchenette and there are a further two shared kitchens.

    The total aggregate rent is therefore £110,071 per annum. The majority of the residential units have recently seen rental increases to £950 PCM however several units still offer asset management potential.

    Portland Road is a busy arterial route benefitting from high footfall. The area is characterised by both commercial and residential uses with a mix of local and national retailers, terraced houses and flats.

    Additional information

    Tenure

    Freehold

    Tenancy

    Please see the tenancy schedule below for more information.

    Rent

    £110,071 per annum

    Notes

    Please note the total rent is £110,071 and the lease on the retail unit expires 03.10.2027 and not as previously stated.

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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.

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      Accommodation / Tenancy Schedule

      Local information

      • Norwood Junction - 0.6 miles

      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