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Lot 13 Click here for addendum

Freehold Commercial/Residential Investment – Gross Yield 14.3%
6 Week Completion

Situation

Located close to the junction with Church Street, which leads to Market Place, in this Historic Town Centre nearby multiples such as Evans Pharmacy, Yorkshire Trading Co. and The Post Office and a variety of independent retailers, estate agencies, pubs and coffee shops.
Newark is famous for its connection during the Civil War of the 17th Century as a Royalist Stronghold and located approx. 16 miles north-east of Nottingham and approx. 1½ miles from the A1.

Property

An attractive Grade II Listed mid terrace building comprising 2 Ground Floor Shops with separate rear access to 2 Self-Contained Flats, one at rear ground floor level and one on the first floor which also includes basement and ground floor access and store.

VAT is NOT applicable to this Lot

FREEHOLD

Note 1: In accordance with s.5B of the Landlord and 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 section of the first floor flat which is over the side passageway does not fall within the Vendor's freehold title and is registered under title number NT190634 to Newark & Sherwood District Council. Refer to the lease of 15 St Leonard's Court in the legal pack.

*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.

37/39 Kirk Gate, Newark, Nottinghamshire NG24 1AD