Property

Rooms

Location
Louth is an attractive market town with a population of approximately 17,000 and enjoys a thrice weekly open market, independent shops and national retailers, three supermarkets, leisure centre, two Golf courses, cinema and theatre. The town is positioned on the edge of the Lincolnshire Wolds a designated area of natural beauty and is situated some 25 miles north -east of the city of Lincoln and some 16 miles south of the town of Grimsby. The property is situated close to the retail centre of the town and fronts onto Kidgate with a return frontage to Lee Street and is a mostly residential area but having a J D Wetherspoon directly opposite as well as pedestrian passage way linking Kidgate to Mercer Row and the town's main shopping area.

Description
The property is constructed of solid red brick walls and has a traditional clay pan tile pitch roof. A single story extension was added in late 1990s by the current owners to provide office accommodation and toilets. The property retains many original features with Historic England stating that it is one of the best preserved storage warehouses into the period of Louth industrial expansion in the late 18th of the early 19th centuries. Although property has been used for many years as an auction room, it has the potential to be used for a number of alternative uses subject to any necessary local authority consents.

Single Storey Ancillary Accommodation
Brick cavity construction with a pitch and pan tile roof. The accommodation comprises of:

Office/Reception 2.93m x 5m (9ft 7in x 16ft 4in)
With fitted counter.

Kitchen 2.44m x 2.94m (8ft x 9ft 7in)
With fitted wall and base cupboards, worktops, stainless steel sink and drainer, tiled floor and access to roof space.

Toilets
Separate male and female/disabled WC.

Ware House Accommodation
The original three storey building comprises of:

Ground Floor 5.52m x 22m (18ft 1in x 72ft 2in)
With brick and part York flag stones, boarded ceiling (possibly containing asbestos) , power and lighting. Maximum length and minimum width measurements.

First Floor 5.54m x 22m (18ft 2in x 72ft 2in)
With access via an external metal staircase and having attractive ceiling beams, exposed largely original floorboards, power and lighting and internal staircase leading to the second floor. Maximum length and minimum width measurements.

Second Floor 5.48m x 22m (17ft 11in x 72ft 2in)
With attractive original roof timbers, largely original floorboards, and lighting. Maximum length measurement.

Outside
Block paved enclosed yard with large automatic timber gates.

Services
The property has mains water, electricity and drainage.

Tenure
The property is freehold.

Non Domestic Rates
According to the on line Valuation List for the 1st of April 2023, the property has the following description and rateable value : Description: Auction room and premises Rateable value: £9,200

VAT
The property purchase price is not subject to VAT.

Auction details
The sale of this property will take place on the stated date by way of Auction Event and is being sold as Unconditional with Variable Fee (England and Wales). Binding contracts of sale will be exchanged at the point of sale. All sales are subject to SDL Property Auctions Buyers Terms. Properties located in Scotland will be subject to applicable Scottish law.

Auction Deposit and Fees
The following deposits and non- refundable auctioneers fees apply: • 5% deposit (subject to a minimum of £5,000) • Buyers Fee of 4.8% of the purchase price for properties sold for up to £250,000, or 3.6% of the purchase price for properties sold for over £250,000 (in all cases, subject to a minimum of £6,000 inc. VAT). For worked examples please refer to the Auction Conduct Guide. The Buyers Fee does not contribute to the purchase price, however it will be taken into account when calculating the Stamp Duty Land Tax for the property (known as Land and Buildings Transaction Tax for properties located in Scotland), because it forms part of the chargeable consideration for the property. There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.

Additional Information
For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions home page. This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack (and any applicable Home Report for residential Scottish properties).

Guide Price and Reserve Price
Guide Price & Reserve Price: Each property sold is subject to a Reserve Price. The Reserve Price will be within + or - 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.