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

Lot 13

Leasehold Commercial Investment – Gross Yield 9%
6 Week Completion

Situation

In the heart of this popular town adjacent to Bon Marche, close to branches of Lloyds Bank, New Look, Halifax, Card Factory and Superdrug and diagonally opposite an entrance to The Market Place Shopping Centre which houses branches of Boots, Hays Travel and Peacocks. There is a public car park to the rear of the property. Blackwood lies on the A4048, some 10 miles north-west of Newport, 12 miles north of Cardiff and 9 miles north of the M4 (Junction 28).

Property

Comprising a Ground Floor Shop with separate rear access to a Basement Store and separate front access to an Ancillary Area on the first floor.

Accommodation

Ground Floor Shop
Internal Width 15'11”
Shop & Built Depth 45'8”
Rear Store Area Approx. 105 sq ft
Basement Area Approx. 115 sq ft
First Floor Ancillary Area Approx. 325 sq ft plus WC

VAT is applicable to this Lot

Tenure

Leasehold for a term of 999 years from 25th December 2006 at a peppercorn ground rent.

Tenancy

The entire property is let on a full repairing and insuring lease to EE Limited (having over 600 branches) (T/O for Y/E 31/03/2021 £6.97bn, Pre-Tax Profit £1.38bn and Shareholders' Funds £7.057bn) for a term of 5 years from 24th October 2019 at a current rent of £15,750 per annum exclusive.

Note: The Tenant did not exercise their October 2022 Break Clause.

*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.

141 High Street, Blackwood, Gwent NP12 1AB