Property for sale
Property description & features
- Tenure: Leasehold
- MODERN METHOD OF AUCTION
- FANTASTIC INVESTMENT OPPORTUNITY
- LEASEHOLD RETAIL SHOP UNIT
- FREEHOLD TITLE FOR 7 MARKET SIDE
* INVESTMENT OPPORTUNITY* Leasehold shop unit ideally located off St Helens Square opposite the Market Vaults.
Freehold title for 7 Market Side is included in the sale, this consists of three leasehold flats and two leasehold shop units.
The shop unit is to be sold with an existing lease from 13th Jan 2021 until 12th Jan 2031 which produces £7,020 per annum.
This property is for sale and powered by "iamsold Ltd
Viewing recommended.
Starting Bid & Reserve Price
Please note this property is subject to an undisclosed reserve price which is generally no more than 10% in excess of the starting bid, both the starting bid and reserve price can be subject to change. Terms and conditions apply to the auction, which is powered by IAM Sold
Auctioneer's Comments
This property is for sale by the Modern Method of Auction, meaning the buyer and seller are to Complete within 56 days (the "Reservation Period"). Interested parties personal data will be shared with the Auctioneer (iamsold).
If considering buying with a mortgage, inspect and consider the property carefully with your lender before bidding.
A Buyer Information Pack is provided. The buyer will pay £300.00 including VAT for this pack which you must view before bidding.
The buyer signs a Reservation Agreement and makes payment of a non-refundable Reservation Fee of 4.50% of the purchase price including VAT, subject to a minimum of £6,600.00 including VAT. This is paid to reserve the property to the buyer during the Reservation Period and is paid in addition to the purchase price. This is considered within calculations for Stamp Duty Land Tax.
Services may be recommended by the Agent or Auctioneer in which they will receive payment from the service provider if the service is taken. Payment varies but will be no more than £450.00. These services are optional.
SHOP 6.85m (22' 6") x 4.08m (13' 5")
The shop unit is currently tenanted under an existing lease agreement starting from 13th January 2021 until 12th January 2031. The lease is subject to 3 yearly rent reviews without break clauses and is producing £7020 per annum.
BATHROOM
For sale along with the leasehold shop unit is freehold title. This consists of five leasehold properties. Maintenance is provided by Nicholsons Block Management Department with service charge contributions as follows each year including buildings insurance:
Service Charge Payable
Flats 1/2/3 @£1120.00 each
Shop 1 (Harry's Antiques and Collectables) @£1370.00
Fetta D'italia @£870.00
GROUND RENTS ARE NOT CURRENTLY COLLECTED
TENURE
The shop unit is leasehold (175 years as of 1993), but all matters of tenure are subject to verification and clarification by the solicitors in a contract of sale. All lease, under lease and title documentation is available to view through the agents.
BUSINESS RATES
Online enquires would suggest a rateable value of £2550.00 per annum
SERVICES
Mains supplies of water, electricity, gas and drainage are connected to the property. (Please note it is not company policy to test any services or appliances in properties offered for sale, and these should be verified by purchasers).
INSPECTION
By appointment through the agents.
DISCLAIMER
These particulars are subject to constant review and updating. Comments under tenure, council tax, planning use and service availability are provided for guidance only and are not based on formal enquiry, which is outside the scope of our agency instructions. It remains for a purchaser to satisfy themselves as to the facts. We cannot therefore accept any responsibility for information provided in good faith which may subsequently require amendment. Measurements provided are approximate only and should not be relied upon for other purposes. Features described in these particulars do not warrant or imply that the specification of each room are the same, the comments offered are an illustration only of points of interest.
Property information from this agent
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*DISCLAIMER
Property reference NIC1SO1447. The information displayed about this property comprises a property advertisement. OnTheMarket.com makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and OnTheMarket.com has no control over the content provided by the agent or developer. This property advertisement does not constitute property particulars. The information is provided and maintained by Nicholsons - Scarborough.
OnTheMarket may have applied supplementary data to this property listing, including:
Broadband availability and predicted speed: obtained from Ofcom on May 10, 2022
Broadband speed is measured in megabits per second, with the number returned showing how fast the connection is. Each reading is based on the highest predicted speed of any major broadband network for services that deliver the download speeds. The following are the different readings that we may display:
Basic: Up to 30 Mbit/s
Super-fast: Between 30 Mbit/s and 300 Mbit/s
Ultra-fast: Over 300 Mbit/s
The data is updated three times a year. The checker results are predictions and should not be regarded as guaranteed. For more information, see: https://checker.ofcom.org.uk/en-gb/about-checker#Answer_0_2
Mobile phone signal availability and predicted strength
Mobile signal predictions are provided by the four UK mobile network operators: EE, O2, Three and Vodafone. Predictions can vary significantly from the coverage you may actually experience as a result of local factors (especially terrain). Ofcom has tested the actual coverage provided in various locations around the UK to help ensure that these predictions are reasonable. The values shown against a property can be broken down as follows:
Clear: No bars, no signal predicted
Red: One bar, reliable signal unlikely
Amber: Two bars, may experience problems with connectivity
Green: Three bars, likely to have good coverage and receive a data rate to support basic web services
Enhanced: Full bars, likely to have good coverage indoors and to receive an enhanced data rate to support multimedia services
Energy Performance data and Internal floor area
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