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Lot 12

Freehold Town Centre Restaurant Investment – Gross Yield 10.3%
6 Week Completion

Situation

Located at the junction with the prime pedestrianised retailing in Above Bar Street, opposite the new Bargate Development under construction, and amongst such multiples as Primark, Boots, WH Smith, Poundland, Sports Direct, Greggs, Specsavers, Betfred and many others.
Southampton is a popular coastal city at the mouth of The Solent, lying approx.16 miles north-west of Portsmouth and 30 miles north-east of Bournemouth and enjoying fast access to the M27 (Junction 4) and M3 (Junction 14).

Property

A mid terrace building with an attractive stone façade, comprising a Large Ground Floor Restaurant with Basement Storage plus separate front entrance to 6 Self-Contained Flats on first and second floors.

VAT is NOT applicable to this Lot

FREEHOLD

*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.

1–2 Hanover Buildings, Southampton, Hampshire SO14 1JW