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    Key features

    • To be offered on Thursday 27 February
    • A freehold four storey mid terrace property comprising of commercial unit at ground floor and associated ancillary and retail space on the 3 uppers floors
    • Located in the centre of York on a part pedestrianised street
    • Let on a 5 year lease from September 2022
    • Future development potential to convert the upper floors into a dwelling/s (subject to the existing lease and requisite consents)
    • An approx. 3,231 sq ft
    • By order of a Major Fund
    • Investment let at £40,000 p.a. (9.09% GIY on guide)

    Description

    A freehold four storey mid terrace property comprising of commercial unit at ground floor and associated ancillary and retail space on the 3 uppers floors amounting to an approx. 3,231 sq ft. The property has been fitted out to a good specification. The property offers future development potential for the upper floors to be converted into a dwelling/s (subject to the existing lease and requisite consents)

    Nearby occupiers include Sports Direct, Holland & Barrett, Next, Card Factory, WHSmith as well as wide range of local and independent retailers.

    Additional information

    Tenure

    Freehold

    Accommodation

    The property is arranged over ground, first, second and third floors providing the following approximate net internal areas:


    Ground Floor Total 1,351 sq ft

    First Floor Total 702 sq ft

    Second Floor Total 599 sq ft

    Third Floor Total 579 sq ft

    Total Area 3,231 sq ft

    Tenancy

    40 Coney Street (entire property)

    • Let to Luxe Trading Company Limited (TA The Luxe Company)
    • Let on a 5 year FR&I lease from September 2022 (Reversion 2027)
    • A rent deposit of £19,500 is held on account
    • Investment let at £40,000 p.a.

    Rent

    £40,000 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. Prospective purchasers must reply upon their own enquiries prior to bidding. Please refer to the legal pack.

    The property is opted for VAT, however we believe the sale can be treated as a TOGC (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

      The property is located in a prime position on Coney Street, York's main retailing thoroughfare.

      York Station is located an approx. 0.7 miles from the property

      Transport

      York station - National Rail services

      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