Property description

A mixed use investment property producing a combined rental income of in excess of £30,800 per annum.

The property comprises of a block of three interconnecting retail units together with 5 x 1 bedroomed self contained flats above accessed via a separate entrance. The shop is currently let by way of a 5 year lease to 'Tan City' at a rental of £9,996 per annum. The flats are currently let by way of Assured Shorthold Tenancies at a rental of £19,200 per annum.

The property benefits from double glazing, electric heating and electric steel roller shutters. There is an advertising hoarding to the side elevation producing £1700.00 per annum.

GUIDE PRICES & RESERVE PRICES

Guide Price
An indication of the seller’s current minimum acceptable price at auction. The guide price or range of guide prices is given to assist consumers in deciding whether or not to pursue a purchase. It is usual, but not always the case, that a provisional reserve range is agreed between the seller and the auctioneer at the start of marketing. As the reserve is not fixed at this stage and can be adjusted by the seller at any time up to the day of the auction in the light of interest shown during the marketing period, a guide price is issued. This guide price can be shown in the form of a minimum and maximum price range within which an acceptable sale price (reserve) would fall, or as a single price figure within 10% of which the minimum acceptable price (reserve) would fall. A guide price is different to a reserve price (see separate definition). Both the guide price and the reserve price can be subject to change up to and including the day of the auction.

Reserve Price
The seller’s minimum acceptable price at auction and the figure below which the auctioneer cannot sell. The reserve price is not disclosed and remains confidential between the seller and the auctioneer.

Both the guide price and the reserve price can be subject to change up to and including the day of the auction.

Property Features :

• SUTTON KERSH ARE PLEASED TO OFFER FOR SALE BY PUBLIC AUCTION ON : 26-MAY-2016
• LOT NUMBER : 29
• MIXED USE INVESTMENT PRODUCING £30,800 PER ANNUM. DOUBLE GLAZING. ELECTRIC HEATNG.
• Commercial Investment