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Lot 43

14.4% Gross Yield
6 Week Completion

Situation

Occupying a prominent trading position close to the junction with the main shopping facilities of High Street within this attractive market town located on the A53 some 20 miles from Shrewsbury and 20 miles from the M54 which leads to the national motorway network.

Property

Forming part of an attractive property comprising a Ground Floor Shop.

Accommodation

Ground Floor Shop
Gross Frontage 28'7”
Internal Width 27'9”
Built Depth 50'2” (max)
WC

VAT is NOT applicable to this Lot

Tenure

Leasehold for a term of 999 years from 25th March 2011 at a peppercorn ground rent.

Tenancy

The property is let on a full repairing and insuring lease to K. Salik as an Off Licence & Convenience Store for a term of 6 years from 2nd July 2018 at a current rent of £7,200 per annum exclusive.

Rent Review 2022

*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.

10/12 Shropshire Street, Market Drayton, Shropshire TF9 3BY