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Lot 16

Freehold Ground Rent Investment with 13 Valuable Reversions

Situation

Occupying a prominent position in the town's main retail thoroughfare, close to the junction with Manchester Road, opposite a branch of Farmfoods and amongst a variety of independent retailers, cafés, bars and restaurants.
Southport is a popular and affluent town located some 17 miles north of Liverpool enjoying good road access via the A570 to the M58 (Junction 3).

Property

A purpose built retail parade fronting Lord Street, comprising 1 Double and 5 Single Ground Floor Shops with separate gated front access to 14 Self-Contained Flats planned on three upper floors.

VAT is NOT applicable to this Lot

FREEHOLD

Note 1: In accordance with s5B of the Landlord & Tenant Act 1987, Notices have been served on the lessees and they have not reserved their rights of first refusal. This lot cannot be sold prior to the Auction.

Note 2: The Freehold of Flats 1-11 Sandringham Court is also being offered for sale in this auction - see Lot 15

Note 3: The Freeholder insures 1-11 and 12-26 Sandringham Court (Lots 15 and 16) together for a sum insured of £3,000,000 and a current premium of £4,355.51 incl. IPT.

Note 4: There is a Car Park but this is not included in the sale.

Note 5: There is a 6 Week Completion.

*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.

12–26 Sandringham Court and 639 & 645–655 Lord Street, Southport, Merseyside PR9 0AW