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Lot 50

BY ORDER OF JOINT LPA RECEIVERS

SITUATION

Occupying a prominent position on this main road, close to the junction with Longford Square, serving this predominantly residential suburb of Coventry only 4 miles from the City Centre.
The Ricoh Arena, now home to Wasps Rugby Club, is located less than ½ a mile to the east, whilst the M6 (Junction 3) is located approximately 1 mile to the north.

PROPERTY

Forming part of a modern development comprising a Large Ground Floor Convenience Store with separate side access to 3 Self-Contained Flats on the first floor. In addition the property benefits from a forecourt area to the front, some off street parking to the side and a service road for deliveries.

ACCOMMODATION

Ground Floor Convenience Store
Gross Frontage 60'5"
Internal Width 57'10"
Shop Depth 54'2"
Built Depth 69'0"
Sales Area Approx. 2,380 sq ft
Store Area Approx. 690 sq ft plus WC
Total Area Approx. 3,070 sq ft

First Floor - Flat 1
2 Bedrooms, Living Room, Kitchen, Bathroom/WC¹
First Floor - Flat 2
1 Bedroom, Living Room, Kitchen, Bathroom/WC¹
First Floor - Flat 3
2 Bedrooms, Living Room, Kitchen, Bathroom/WC¹

¹Not Inspected by Barnett Ross

VAT is NOT applicable to this Lot - please refer to Special Conditions.

FREEHOLD

TENANCY

The entire property is let on a full repairing and insuring lease to B. Singh as a Premier Convenience Store for a term of 3 years from 11th April 2017 at a current rent of £24,000 per annum exclusive.

*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 Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,500 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.

181 Longford Road, Longford, Coventry, West Midlands CV6 6EE