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Lot 8 Click here for addendum

Reversionary Ground Rent Investment
6 Week Completion

Situation

Located within this local shopping parade serving the surrounding residential neighbourhood lying approximately 3 miles south-east of Sheffield city centre.

Property

An end of terrace building comprising a Ground Floor Double Shop with separate front and side access to 2 Self-Contained Flats on the first floor.

Accommodation

Ground Floor Double Shop
Gross Frontage 60'10"
Built Depth 64'7"
2 First Floor Flats
Not inspected - Each believed to be 2 Bedrooms, Living Room, Kitchen, Bathroom/WC

VAT is NOT applicable to this Lot

FREEHOLD

Tenancy

The entire property is let on a full repairing and insuring lease to Co- operative Group Limited for a term of 99 years from 29th September 1953 at a current rent of £70 per annum exclusive.

Valuable Reversion in approx. 32¼ years.

Note 1: In April 2020, the vendor approached the lessee regarding the possibility of taking a surrender of the 2 flats and the lessee advised they would give this some consideration.

Note 2: There is potential to create additional flats at the rear of the property, subject to obtaining possession and the necessary consents.

*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.

27–35 Jaunty Way, Sheffield, South Yorkshire S12 3DZ