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Lot 4 Click here for addendum

Freehold Commercial Investment
Gross Yield 12.5%
6 Week Completion

Situation

Located at the junction with Market Street in this prominent trading position in the heart of the town centre amongst such multiple retailers as Poundland, Costa Coffee, WHSmith, Savers and Halifax.
Furthermore, there is a daily Outdoor Market along Market Place.
Wisbech is an attractive Fenland market town, located approx. 32 miles north of Cambridge and 18 miles east of Peterborough benefitting from good road links via the A47.

Property

A corner building comprising a Ground Floor Shop with internal and separate side access to a Basement and Upper Parts on the first and second floors (see Note).

Accommodation

Ground Floor Shop
Gross Frontage 15'11''
Return Window Frontage 12'11”
Internal Width 13'1”(max)
Shop Depth 49'0''
Built Depth 56'7''
Basement
Area Approx. 475 sq ft
First Floor
3 Rooms and a Shower Room
Second Floor
2 Rooms, communal Kitchen/Dining Room and WC

VAT is NOT applicable to this Lot

FREEHOLD

Tenancy

The entire property is let on a full repairing and insuring lease to A. Anjum as a mobile phone shop for a term of 10 years from 22nd June 2018 at a current rent of £17,500 per annum exclusive.

Rent Reviews 2021 and 3 yearly

Note: The tenant has sublet the Upper Parts to 5 individuals and has advised he has applied to the Local Authority for an HMO Licence.

*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 £1,000 plus 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.

14 Market Place, Wisbech, Cambridgeshire PE13 1DY