Property Auctions London, Property Auctioneers London, London Property Auctions, Property Auctions London

Lot 41 Click here for addendum

Gross Yield 13.75%
6 Week Completion

Situation

Occupying a corner position in this pedestrianised thoroughfare, opposite Your Move Estate Agents, nearby the various shopping facilities on Fore Street and Market Street with multiples including Iceland, Peacocks, Costa, TKMaxx, Natwest, Barclays, Age UK as well as a host of local traders.
St. Austell is a coastal town lying approx. 28 miles west of Plymouth and benefiting from good road links via the A390 and the A38.

Property

Forming part of a corner building comprising a Ground Floor Shop.

Accommodation

Ground Floor Shop
Gross Frontage 42'4”
Internal Width 30'7” (max)
Shop & Built Depth 18'2”

VAT is NOT applicable to this Lot

Tenure

Leasehold for a term of 999 years from completion at a peppercorn ground rent.

Note 1: The 999 year lease will permit the shop to be used for A1, A2, A3 & A5 Uses.

Tenancy

The property is let on a full repairing and insuring (by way of service charge) Law Society lease to D. Delara trading as Daisy Dukes (Thrift Shop) for a term of 10 years from 31st July 2019 (renewal of a previous lease) at a current rent of £5,500 per annum exclusive.

Rent Review 2024

Note 2: There is a £1,625 Rent Deposit held.

Note 3: The tenant also occupies the adjoining unit which is interconnecting and is known as 4 Victoria Place.

*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.

4A Victoria Place, St. Austell, Cornwall PL25 5PE