The property comprises a three storey office building of brick construction built in the 1960's and measures approximately 9,000 sq ft. (836 sq m) with an estimated rent achievable £90,000 PAX (£10 PSF), representing a gross yield of 18.36% PAX.

Located in the centre of Wellingborough on the corner of Sheep Street and Tithe Barn Road opposite the Swansgate Shopping Centre. It is approximately 0.7 miles from Wellingborough Railway Station and within close proximity of a multi-storey car park on Commercial Way.

Buyers should rely on their own due diligence to verify these details.

Rooms

To view
Viewings will be conducted prior to the auction, please visit our website to book an appointment at firstforauctions.co.uk

Registration
All bidders/potential buyers are required to register ahead of the auction date to be able to bid/buy, please visit our website to setup an online auction account.

Description
* 1960's office building * Arranged over three floors * Investment potential

Accommodation
Office use, measures approximately 9,000 sq ft. (836 sq m). Please see floor plan for details.

Outside
Parking to the rear

EPC rating
Please see legal pack

Tenure
Leasehold

Lease
125 yrs from 01/05/1973 - 74 years remaining.

Tenancies
Part occupied, please see legal pack for details. The Sub-Lease registered under Title NN272671 is not operational, the Lessees having voluntarily vacated approximately 6 years ago. No rent is being received and there are no contact details for the Lessees although it is known that Alastair Nigel Charles Davis is deceased.

Ground rent and service charge
Please see legal pack for further details.

Business rates
Please check with North Northamptonshire Council for rates payable.

Legal pack
For each lot there are Special Conditions of Sale and other documentation provided by the vendor's solicitors. If you wish to receive the Legal Pack, you will be able to register for this via the link on our website. You will receive notification by email once the Legal Pack is received from the solicitor.

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

Additional fees
A buyers charge of £1,200 including VAT is payable on each lot that you buy, in addition to the sale price. Please be aware there may be other additional fees, including disbursements contained in the legal pack payable on completion. Please ensure that you check the legal pack for each lot that you are interested in, prior to bidding.

Pre-auction offers
These must be made in writing and will only be considered if the Legal Pack has been inspected and proof of funding has been supplied to the auctioneers. Pre-auction offers are only considered an auction basis in accordance with the “Terms & Conditions - Unconditional Auction".

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No longer on the market

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