Property description

A substantial 3 storey mixed use investment comprising of a ground floor fast food takeaway plus 7x1 bedroomed flats above. The retail unit and ground floor flat are let to ‘Chicksters‘ on a 10 year lease from June 2010 at a rental income of £12,000 per annum with 2 yearly rent reviews.

The 6 flats above are in need of repair and modernisation and when fully let the potential total annual income being is in excess of £35,000 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 : 03-Nov-2016
• Lot Number : 32
• A MIXED USE INVESTMENT CURRENTLY PRODUCING £12,000 WITH A POTENTIAL £35,000.
• Commercial Investment