Ground floor shop (1000sqft) with 3 bed flat above. There is also a workshop (970sqft) with large yard that has rear access and offers potential for residential development subject to consent. We would anticipate a gross income in the region of £37,900pa once fully let at market values. This is an excellent investment property, that offers lots of scope to add value and is situated in a popular location.
FOR SALE BY AUCTION -
This property is due to feature in our online auction on 15 February 2024 at 6.00pm. Bidding is via proxy, telephone or online remote bidding.
SOLD FOR £320,000 - LARGE SHOP / 3 BED FLAT / WORKSHOP WITH YARD THAT OFFERS DEVELOPMENT POTENTIAL- SUPER INVESTMENT
Ground floor shop and basement (1000sqft) with 3 bed flat above. There is also a workshop (970sqft) with large yard that has rear access and offers potential for residential subject to consent. We would anticipate a gross income in the region of £37,900pa once fully let at market values. This is an excellent investment property, that offers lots of scope to add value and is situated in a popular location.
GROUND FLOOR SHOP - currently let £9,996pa (until 29/06/2024). However this rent is below market value and should be in the region of £15,000pa. We understand the tenant would be happy to surrender their lease and vacate early.
FIRST FLOOR FLAT - Vacant
WORKSHOP - Vacant
We would anticipate a gross income in the region of £37,900pa once fully let at market values. This is an excellent investment property in a popular letting location.
Situated within a mixed parade of shops on High Street, Staple Hill.
Please refer to floorplan for approximate room measurements and internal layout.
Completion for this lot will be 8 weeks from exchange of contracts or sooner by mutual agreement.
ENERGY PERFORMANCE CERTIFICATE -
Shop & workshop EPC rating: D (Expires March 2033)
Flat EPC rating: D (expires March 2030)
Understood to be freehold. Please check the legal pack.
LETTING - WHAT CAN MAGGS & ALLEN ACHIEVE FOR YOU? -
Maggs & Allen's experienced letting team are happy to discuss the rental of this property and can advise on maximising the investment. We offer Full Management, Let Only and Rent Collection Services. Contact Jessica Archer and her team on 0117 9499000 or email email@example.com.
AUCTION OR BRIDGING FINANCE REQUIRED? -
Do you need a mortgage or loan quickly? Maggs & Allen have specialist Independent Brokers who can arrange residential and commercial finance on all types of property. Contact the Auction Team today to be put through to our mortgage and loan experts on 0117 9734940 or email firstname.lastname@example.org
BUYER'S PREMIUM -
Please be advised that all purchasers are subject to a £1,250 plus VAT (£1,500 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, TELEPHONE & ONLINE REMOTE BIDDING -
The auction will be held online via live video stream with buyers able to bid via telephone, online or by submitting a proxy bid. You will need to complete our remote bidding form, which 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 a bank transfer for the Preliminary Deposit must be received no later than 24 hours before the date of the auction.
PRELIMINARY DEPOSITS -
The Preliminary Deposit required for each lot you wish to bid for will be calculated based upon the Guide Price as follows:
£1,000 - £50,000: £2,000
£51,000 - £150,000: £5,000
£151,000 and above: £10,000
If your bid is successful, the balance of the deposit monies and Buyer's Premium (£1,500 inc VAT) must be transferred to our client account within 24 hours of the auction sale. If you are unsuccessful at the auction, your Preliminary Deposit will be returned to you.
RENTAL ESTIMATES -
All rental estimates are provided in good faith. They should be verified by your own professional advisors prior to a commitment to purchase.