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Lot 28

Reversionary Ground Rent Investment
6 Week Completion

Situation

Occupying a prominent position within this established parade, close to the junction with Rowner Road and nearby a host of local traders.
Gosport is a busy south coast town located 5 miles from Fareham, at the mouth of Portsmouth Harbour. The town enjoys good communications via the M27 (Junction 11) providing access to the South Coast region and the surrounding motorway network.

Property

A mid-terraced building comprising a Ground Floor Shop with a rear yard together with separate rear access via an external staircase and communal balcony to a Self-Contained Flat on the first and second floors.
In addition, there is a Garage in a block to the side.

Accommodation

Ground Floor Shop
Gross Frontage 16'9"
Internal Width 15'3"
Shop & Built Depth 33'6"
WC
First and Second Floor Flat
Not inspected - Believed to be 3 Rooms, Kitchen, Bathroom/WC
Garage

VAT is NOT applicable to this Lot

Freehold

Tenancy

The entire property is let on a full repairing and insuring lease to
CH Lai & L Y Chang t/a Maggies Kitchen for a term of 99 years (less 10 days) from 1st January 1958 at a fixed ground rent of £35 per annum exclusive.

Valuable Reversion in approx. 37¾ years.

*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.

77/77a St Nicholas Avenue, Gosport, Hampshire PO13 9RH