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Lot 28 Click here for addendum

Gross Yield 10%
6 Week Completion

Situation

Located near to the junction with Church Street, diagonally opposite an Asda Supermarket and within close proximity to a variety of multiple retailers including Yorkshire Bank, Boots, Poundland, Lloyds Bank, Iceland and WH Smith.
Cannock is a popular market town approximately 9 miles south-east of Stafford and 16 miles north-west of Birmingham benefitting from good road links via the A5 and M6 (Junction 11).

Property

An end of terrace building forming part of this established local parade comprising a Ground Floor Shop with internal access to Offices at first floor level.

Accommodation

Ground Floor Shop
Gross Frontage 24'6”
Return Frontage 10'9”
Internal Width 23'1”
Shop Depth 29'2”
Built Depth 33'4”
First Floor Offices
Area Approx. 540 sq ft
Kitchen, Ladies & Gents WCs

VAT is NOT applicable to this Lot

FREEHOLD

Tenancy

The entire property is let on a full repairing and insuring lease to J. Webb as Webbs Estate Agents (having 3 branches) for a term of 29 years from 5th November 1997 (by way of a Deed of Variation) at a current rent of £17,500 per annum exclusive.

Rent Reviews 2021 and 2024

Note: The tenant uses the first floor offices for their Financial Services business.

*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.

153 Avon Road, Cannock, Staffordshire WS11 1LF