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    Key features

    • To be offered on Monday 15 April
    • High Yielding Mixed Use Investment
    • Cafe and 2 x Flats
    • Fully Let - Producing £21,712 per annum
    • Asset Management Potential
    • Established and Popular Location
    • Guide Price Reflects 12.06% Gross Yield

    Description

    The property comprises a high yielding mixed use investment forming part of a popular local parade.

    Arranged across ground, first and second floors, the property includes a commercial unit to the ground floor, with two flats above benefitting from separate access from Albert Road.

    The ground floor is let to Hatch Cafe on a lease producing £7,020 per annum. The first floor is let to a private individual on an AST producing £6,292 per annum. The second floor is let to a private individual on an AST producing £8,400 per annum.

    There may be further opportunities for rental growth, particularly in the residential element of the property.

    Albert Road is a popular retail location and forms the principal arterial route between the popular Stoke Village and the dockyard.

    Additional information

    Tenure

    Freehold

    Tenancy

    Please see the tenancy schedule for full information.

    Rent

    £21,712 per annum

    Notes

    We understand the property is elected for VAT, it is anticipated the sale will be treated as a Transfer of a Going Concern (TOGC).

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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 Albert Road and can be found between the junctions of Ross Street and Garden Street.

      Devonport Station is approx. 0.3 miles from the property

      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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