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    Key features

    • High Yielding Mixed Use Investment
    • 2 x Retail Units and Two Bedroom Flat
    • Fully Let - Producing £27,000 per annum
    • Prominent Corner Pitch
    • Development Potential (subject to consents)
    • Asset Management Potential
    • Investment Let at £27,000 p.a. (13.85% GIY on Guide Price)

    Description

    The property comprises a high yielding, multi-let, mixed-use investment occupying a prominent corner pitch.

    Arranged as two ground floor retail units with a single two bedroom flat to the upper parts, the property is let on two separate leases producing a combined £27,000 per annum.

    The laundrette and upper parts are let on a single lease expiring November 2025 and paying £18,250 per annum. We understand the tenant sublets the flat to the upper parts. The taxi office is let on producing £8,750 per annum and the lease has expired with the tenant holding over.

    We consider the property has asset management potential via both the renewal of the expired lease and also via separate letting of the retail and residential units upon expiry of the lease.

    The property occupies a prominent corner pitch with a frontage to Longridge Avenue, which offers the principal local retail amenity for the town. The area is characterised by a mix of residential units and local retail amenity with tenants including Co-op Supermarkets and a post office.

    Additional information

    Tenure

    Freehold

    Tenancy

    Please see the below tenancy schedule for more information.

    Rent

    £27,000 per annum
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      Accommodation / Tenancy Schedule

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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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