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Lot 9 Sold: £107,000

5 St Peters Road, Great Yarmouth, Norfolk NR30 3AU

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  • Photo2

Lot 9

Freehold Commercial/Residential Investment – Shop & Flat – Gross Yield 11%
7 week completion

Situation

Located at the junction with Dene Side opposite Londis and amongst a host of local traders and being close to the Town Centre and Sea Front.
Great Yarmouth is a popular coastal resort, located approx. 18 miles east of Norwich, 8 miles north of Lowestoft and benefits from good road links via the A47, A143 and the A12.

Property

A corner building comprising a Ground Floor Take-Away with separate side access to a Self-Contained Flat on first and second floor levels.

Accommodation

Ground Floor Take-Away
Gross Frontage    21'6"
Internal Width      19'9"
Built Depth           48'0"
First and Second Floor Flat
3 Bedrooms, Living Room, Kitchen, Bathroom/WC¹

¹Not inspected by Barnett Ross

VAT is NOT applicable to this Lot

FREEHOLD

Tenancy

The entire property is let on a full repairing and insuring lease to M. Zeng as a Chinese Take-Away for a term of 21 years from 1st March 2002 (holding over) at a current rent of £11,000 per annum exclusive.

Enquire about this lot:

Photo of Steven Grossman

Steven Grossman
020 8492 9449
sgrossman@barnettross.co.uk

Photo of Elliott Greene

Elliott Greene
020 8492 9449
egreene@barnettross.co.uk

*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.