Property description

An Investment property currently producing in excess of £30,000 per annum.

A ground floor Car Wash Unit together with a 3 storey residential block to the rear comprising of 10 x 1 bedroomed self contained flats.

The car wash is currently let at £4,200 per annum and 6 of the flats are currently let by way of Assured Shorthold Tenancies at a rental of £21,900 per annum. The total combined rental income being in excess of £26,100 per annum. The potential when fully let being in excess of £49,000 per annum.

There is potential for re development on the site subject to any necessary planning consents.

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 : 29-OCT-2015
• LOT NUMBER : 74
• AN INVESTMENT PROPERTY CURRENTLY PRODUCING IN EXCESS OF £30,000 PER ANNUM.
• Commercial Investment