The Street, Radstock, Radstock BA3 3PL

Guide Price £135,000 - For Sale

  • For Sale By Public Auction
  • Tuesday 26th November 2019
  • County Cricket Ground, Bishopston BS7 9EJ
  • Legal Packs via our website

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Telephone: 0117 973 4940

Email: admin@maggsandallen.co.uk

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Property Details

***FREEHOLD COMMERCIAL AND GROUND RENT INVESTMENT*** A fully let freehold commercial investment comprising 3 ground floor retail units which are currently producing a total income of £17,040 per annum (including ground rents of £400 per annum). The shops are let on an effectively Full Repairing and Insuring basis (via a service charge) making this a fantastic investment opportunity.

FOR SALE BY AUCTION -

This property is due to be auctioned on the 26th November 2019 at The Grace Room, The Bristol Pavilion, County Ground, Nevil Road, Bishopston, Bristol at 7pm.

VIEWING -

By appointment

SUMMARY -

FREEHOLD COMMERCIAL AND GROUND RENT INVESTMENT

DESCRIPTION -

A fully let freehold commercial investment comprising comprising 4 ground floor retail units and 3 first floor flats. The flats and retail Unit 1 have been sold off on long leases, Units 2-4 are let producing a rental income of £16,640 per annum and an additional ground rent income of £100 for each of the flats and retail Unit 1 bring the total income to £17,040 per annum.

LOCATION -

The property is located in a prominent position at 8 The Street, Radstock within a mixed parade of shops. Notable occupiers in the vicinity include The Co-op Supermarket, Subway and McColls. There are also a number of new housing developments within close proximity. Radstock is located approximately 9 miles south west of Bath.

ACCOMMODATION -

Please refer to floor plan for approximate room measurements and internal layout. The floor plan is provided for indicative purposes only and should not be relied upon.

UNITS 2 & 3 -

Let to an established butchers on a 7 year effectively Full Repairing and Insuring lease from April 2015 at a passing rent of £13,000pa.

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UNIT 4 -

Let to a fruit and vegetable shop on an effectively Full Repairing and Insuring lease until September 2023 at a passing rent of £3,640pa. There is a rent review due in September 2021.

TENURE -

The properties are to be sold on a freehold basis subject to the long leasehold titles of the 3 flats above and behind and the adjacent shop that have already been sold off. Each of the leaseholders currently pays an annual ground rent of £100 to the freeholder.

ENERGY PERFORMANCE CERTIFICATE -

Ratings:
Units 2 & 3: C
Unit 4: D

SOLICITOR -

Ms S Collins, Keith Harvey & Company
Tel: 01858 464327
Email: sarah@keithharveyandcompany.co.uk

BUYER'S PREMIUM -

Please be advised that all purchasers are subject to a £1,000 plus VAT (£1,200 inc VAT) buyer's premium payable upon exchange of contracts.

*GUIDE PRICE -

Guide Prices are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to Reserve Price (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

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.

PROXY BIDDING -

If you are unable to attend the auction then you can submit a proxy bid. This will authorise a representative of Maggs & Allen to bid on your behalf up to a pre-set amount. The proxy bidding form is available to download from our website. The completed form, ID (driving licence or passport and a recent utility bill stating the home address of the purchaser) and 2 cheques (one for the 10% deposit and one for the buyer's premium of £1,200 inc VAT) is required by the auction department no later than 4pm on the day of the auction.

ATTENDING THE AUCTION -

If you are intending to bid and are successful, the following will be required:

* Proof of identity (valid passport or photo driving licence).
* Proof of address (bank statement, recent utility bill, council tax bill or tenancy agreement).
* 10% deposit payment.
* Buyer's premium payment.
* Details of your solicitor.

DEPOSIT & BUYER'S PREMIUM PAYMENTS -

Forms of acceptable payment:

* Cheque
* Bankers Draft
* Debit Card Payment

For card payments:
Please ensure that you advise your bank of the potential payment prior to the auction.

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Maggs & Allen use all reasonable endeavors to supply accurate property information in line with the Consumer Protection from Unfair Trading Regulations 2008. These property details do not constitute any part of the offer or contract and all measurements are approximate.
It should not be assumed that this property has all the necessary Planning, Building Regulation or other consents. Any services, appliances and heating system(s) listed have not been checked or tested. Please note that in some instances the photographs may have been taken using a wide angle lens.
Any site and floor plans provided are for indicative purposes only and should not be relied upon.