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Lot 6

Freehold Commercial/Residential Investment
On behalf of Trustees
6 Week Completion

Situation

Located close to the junction with Stuart Close within this established retail parade, amongst such multiples as Coral, Morrisons, Co-op and Barnardo's serving the surrounding residential area.
Gorleston lies approx. 3 miles south of Great Yarmouth and benefits from good road links via the A12.

Property

An end of terrace building comprising a Ground Floor Shop with separate rear access via a communal balcony to 2 Self-Contained Flats planned on the first and second floors. The property benefits from a Rear Yard with off-street parking for at least 3 cars.

Accommodation

Ground Floor Shop
Gross Frontage 23'11"
Internal Width 17'9" widening to 19'0''
Shop & Built Depth 75'6"
Ground Floor Area Approx 1,364 sq ft
WC
First Floor Flat
1 Bedroom, Living Room, Kitchen, Bathroom/WC
Second Floor Flat - Not Inspected
Believed to be 1 Bedroom, 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 T & C Hunt (Pharmacy) Limited (having 4 branches) for a term of 15 years from 18th October 2021 at a current rent of £14,000 per annum exclusive.

Rent Reviews 2026, 2031 and 2036

Tenant's Breaks 2026 and 2031

Enquire about this lot:

*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.

77 Magdalen Way, Gorleston, Norfolk NR31 7AA