FOR SALE BY AUCTION - LOT 12
MULTIPLE RETAIL PARADE INVESTMENT
The property is arranged on ground and one upper floor to provide a parade of four shops with four selfcontained flats above, all of which have been sold off on long leases which could be subject to extension requests in the future.
Location
Christchurch is an attractive coastal town with a population of some 41,000 located 5 miles east of Bournemouth. The town is served by the A337, A35 and A338, the latter providing a dual carriageway link to the A31 and M27 Motorway.
The property is located on Purewell, some 1.1 miles east of Christchurch town centre in a predominantly residential area.
Occupiers close by include the Rising Sun pub (adjacent), Rowlands Pharmacy (opposite), a Premier convenience store and a range of local traders.
Accommodation
Full Accommodation List, please visit
www.telsarauctions.com
Terms
EPC: Refer to Legal pack
No VAT
PRICE INFORMATION
*Guide Price: This is an indication of the seller's current minimum acceptable price at Auction. The guide price is given to assist prospective buyers in deciding whether or not to pursue a purchase. It is usual, but not always the case, that a provisional reserve range is agreed between the seller and the Auctioneer at the start of marketing. As the reserve is not fixed at this stage and can be adjusted by the seller at any time up to the day of the Auction in the light of interest shown during the marketing period, a guide price is issued. This guide price can be shown in the form of a minimum and maximum price range within which an acceptable sale price (reserve) would fall, or as a single price figure within 10% of which the minimum acceptable price (reserve) would fall. A guide price is different to a reserve price (see separate definition). Both the guide price and the reserve price can be subject to change up to and including the day of the Auction. *Reserve Price: The seller's minimum acceptable price at Auction and the figure below which the Auctioneer cannot sell. The reserve price is not disclosed and remains confidential between the seller and the Auctioneer. Both the guide price and the reserve price can be subject to change up to and including the day of the Auction.
ADDITIONAL COSTS
*Please note that the following additional fees will apply to the purchase of your property: 1. A successful purchaser will have to pay a buyer's premium of £XXX plus VAT directly to the Auctioneer 2. Other fees as listed within the Special Conditions of Sale that form part of the legal pack which is made available to prospective buyers prior to Auction. Buyers will be will be expected to sign this document as well as the Sales Memorandum at the time of purchase. 3. Stamp Duty will have to be paid in addition to the sale price. Stamp Duty rates are available online 4. Prospective buyers must factor in solicitor fees and any survey fees 5. Insurance - it is the responsibility of the buyer to insure the property purchased from the date of exchange.
Specification
- Gross Income: £XXX 000
- Gross Yield
- 6 week completion
- Parade of 4 shops
- Includes 4 flats above
- 3 flats with 64 years remaining on lease
- VAT is not applicable
- Retail reversions in 2022 & 2027
- Current Rents Reserved £XXX pa