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Lot 16

Freehold Town Centre Restaurant Investment Plus Vacant Upper Part with Planning for 2 Flats and Vacant Double Garage
6 week completion

Situation

Located near to the junction with Charlotte Street in the town centre, just a few yards from the pedestrianised section of Commercial Road and amongst such multiples as McDonald's, Argos, Savers, Greggs, Poundland, Specsavers, Boots and many others.
Portsmouth lies approx. 70 miles south-west of London via the A3(M) and M27 (Junction 13).
The city is famous for its Naval links and is a major tourist attraction and Port with regular services to the Isle of Wight.

Property

An end of terrace building comprising a Deep Ground Floor L-shaped Restaurant with internal access to Ancillary Storage on first and second floors.
In addition, there is a rear service road for unloading together with a lofty Double Garage.

VAT is NOT applicable to this Lot

FREEHOLD

Click here to view the Planning Documentation for the 2 flats.

*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.

227 Commercial Road, Portsmouth, Hampshire PO1 4BJ