13 December 2023: Wednesday 13 December 2023 - 9:00am
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    Key features

    • Investment let at £151,921 (inclusive of VAT) p.a. (25.32% GIY on guide)
    • Comprises of 1 x retail unit, 15 x office suites and 11 car parking spaces
    • Total building an approx. 5,257 sq ft
    • Possible future development potential to convert into a number of dwellings (subject to the requisite consents)
    • Plans have been drawn to convert into 6 flats (5 x one beds and 1 x two bed) plus retail and office suite
    • 6 week completion available

    Description

    The property is an end of terrace Grade II listed property situated over ground, first floors. There is retail unit at ground floor level trading as Estate agent and 15 x office suits at ground and first floor.

    There is also 11 car parking spaces located at the rear of the property.

    There is future development potential to convert the property into multiple dwellings (subject to the requisite consents). Proposed plans have been created illustrating retention of the retail unit at Ground floor and 6 flats across ground and first floor (5 x one beds and 1 x two bed)

    Additional information

    Tenure

    Freehold

    Accommodation

    Please refer to Accommodation and Tenancy schedule

    Please note that the rent is inclusive of VAT

    Tenancy

    Please refer to Accommodation and Tenancy schedule

    Please note that there is operating costs of £17,000 p.a. for the serviced offices which we have been advised covers reception, cleaning and Insurance - Please refer to the legal pack for further information

    Please note that the rent is inclusive of VAT

    Rent

    Gross rent £151,921 p.a.

    Notes

    Please note the site areas provided are approximate and have been provided to us in good faith. The photos and yellow line drawings are for illustrative purposes only and may not reflect the exact boundary of the site. The property has not been internally inspected by Savills. Prospective purchasers must rely upon their own enquiries in this regard.

    VAT is applicable on the sale of this property, however we believe that the sale can be treated as a TOGC (transfer of going concern) please refer to the legal pack


    Joint auctioneer

    Allied Property Investments


    Scott Spiro

    Email: scott@api.uk.com

    Tel: 020 7486 9000

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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.

      Accommodation / Tenancy Schedule

      Local information

      The property is located on the junction between High Street and Couching Street.

      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.

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