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Lot 20
Ground Floor Unit, Geneva House, 3 Park Road, Peterborough, Cambridgeshire PE1 2UX

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6 Week completion

SITUATION

Located in the heart of the city centre, adjacent to Beales Department Store and just a few hundred yards to the junction with Westgate which houses such multiple retailers as John Lewis, Maplin and Lloyds Bank as well an entrance to the Queensgate Shopping Centre. There is also a public car park to the rear of the building.
Peterborough is an important regional commercial centre, approx. 40 miles north-west of Cambridge benefitting from good road links via the A1(M) (Junction 17).

PROPERTY

Forming part of a substantial recently refurbished modern mixed use commercial/residential building comprising a Self-Contained Ground Floor Commercial Unit with A1, A2 and B1 Use benefiting from air conditioning and fibre optic cabling.
In addition, the property includes 1 parking space located to the rear of the property which is accessed via a front gated entrance.

ACCOMMODATION

Ground Floor Commercial Unit
GIA Approx. 1,082 sq ft1 incl. Kitchenette and 2 WCs

1 Area provided by Vendor.

VAT is applicable to this Lot

TENURE

Leasehold for a term of 999 years from 18th September 2017 at a peppercorn ground rent.

TENANCY

The property is let on a full repairing and insuring lease by way of service charge to Time Personnel Recruitment Limited (with 2 personal guarantors) as a Recruitment Agency for a term of 5 years from 18th September 2017 at a current rent of £13,000 per annum exclusive.

Rent Review 2020 linked to RPI

Note: There is a £4,220.40 (incl. VAT) Rent Deposit held.

*Please note:

RESERVE:The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE: Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

  • a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
  • b. A single price figure where the 'Reserve' is not to exceed it.
  • c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
  • d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Buyer or Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £750 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.