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Lot 1 Sold: £80,000

28 Newerne Street, Lydney, Gloucestershire GL15 5RF

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Lot 1

Gross Yield 12%

6 week completion

Situation

Occupying a prominent trading position in the heart of the town centre, amongst branches of William Hill, Lloyds Bank, Lloyds Pharmacy and a Large Co-Operative Supermarket as well as a variety of local traders and businesses.
Lydney is an attractive town located on the main A48 at the mouth of the River Severn some 19 miles north of Bristol, between Cheapstow and Gloucester and enjoys good road access to the M4 (Junction 23a) and M5 (Junction 15) via the M48.

Property

A mid terrace building comprising a Ground Floor Shop with internal access to Ancillary Space at first floor level. In addition, the property includes 2 rear parking spaces accessed via a communal service area.

Accommodation

Ground Floor Shop
Gross Frontage 16'8"
Internal Width 16'0"
Shop & Built Depth 42'2"
First Floor Ancillary
Area Approx. 75 sq ft
2 WCs

VAT is NOT applicable to this Lot

Tenure
Leasehold for a term of 2,000 years from 24th June 1988 at a peppercorn.

Tenancy

The entire property is let on a full repairing and insuring lease to Mr & Mrs M A Dando as a mobility retailer for a term of 5 years from 23rd February 2018 at a current rent of £6,750 per annum exclusive rising to £7,000 p.a. in 2020.

Tenant's Break 2020

Note: There is a £1,687.50 Rent Deposit held.

Enquire about this lot:

Photo of John Barnett

John Barnett
020 8492 9449
jbarnett@barnettross.co.uk

Photo of Steven Grossman

Steven Grossman
020 8492 9449
sgrossman@barnettross.co.uk

*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.