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

Lot 7 Click here for addendum

Freehold Town Centre Investment/Development Opportunity
Under £35 per ft freehold

Situation

Occupying a prominent trading position within the heart of this pedestrianised town centre, adjacent to Holland & Barrett and amongst other nearby multiple retailers including Costa Coffee, Caffé Nero, O2 and Peacocks. In addition, the property is under 75 yards away from the Menai Centre which houses such retailers as JD Sports and Boots.
Bangor is a University City and provides the gateway to Anglesey and Ogwen Valley and being approx. 20 miles west of Colwyn Bay.

Property

A mid terraced building comprising a Double Fronted Retail Unit (Former Topshop Store) planned on the ground and first floors together with a Basement. In addition, there is a lift that serves the ground and first floor.

Accommodation¹

Ground Floor
Gross Frontage 35'3''
Sales/Ancillary Area Approx. 2,734 sq ft
Basement
Not inspected - restricted head height
First Floor
Sales/Ancillary Area Approx. 1,750 sq ft
WCs
Total Area Approx. 4,484 sq ft

¹Not inspected by Barnett Ross. Areas taken from VOA.

VAT is applicable to this Lot

FREEHOLD offered with VACANT POSSESSION

Note 1: There is potential to convert the first floor into Residential Use. In addition, there may be potential to construct a second floor for additional residential accommodation, subject to obtaining the necessary consents.

Note 2: 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.

255–257 High Street, Bangor, Gwynedd LL57 1PB