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Lot 31 Click here for addendum

Gross Yield 10%
6 Week Completion

Situation

Occupying a prominent trading position adjacent to Rowlands Pharmacy and close to Betfred, GoLocalExtra and Premier, in this retail circle serving the local residential area, some 31/2 miles north of Sheffield city centre.

Property

A mid terraced building comprising a Large Ground Floor Shop with separate front access to a Self-Contained Flat on two upper floors. To the rear of the property is a Deep Yard/Garden and a Brick-built Store.

Accommodation

Ground Floor Shop
Gross Frontage 27'8”
Internal Width 20'0” (max)
Shop & Built Depth 60'10”
Sales Area Approx 910 sq ft
Store Area Approx 135 sq ft
Outside WC
First & Second Floor Flat
4 Rooms, Kitchen, Bathroom/WC
(GIA Approx. 960 sq ft)

VAT is applicable to this Lot

Tenure

Leasehold for a term of 200 years from 30th November 1932 (thus having approximately 113 years unexpired) at a fixed ground rent of £24.60 p.a.

Tenancy

The entire property is let on a full repairing and insuring lease to S. Kumar & V. Avula (with 2 personal guarantors) as a Post Office & Off Licence/Convenience Store for a term of 15 years from 7th May 2015 at a current rent of £11,500 per annum exclusive.

Rent Review 2020

Tenant's Break 2025

Note 1: The lessees occupy the flat.

Note 2: £5,750 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 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.

128 Hartley Brook Road, Sheffield, South Yorkshire S5 0AW