ONLINE AUCTION from 20th JULY-22nd JULY
Located on the corner of Princess Louise Road and Partridge Road, this prominently positioned commercial unit would make the ideal investment.
The property is currently occupied by a well established beauty salon. We have been informed that the tenants have been in situ for three years, and in June 2021 signed a new five year lease achieving £650 per a month. Based on the current rental and guide price this equates to a 16.77% yield.
Small enough to be exempt from business rates, yet large enough to include a salon/trading area, tanning room, office and kitchen.
This property also benefits from an electric roller shutter to the front, and parking for in excess of one car to the rear.
There is a water and electric supply (not tested), there was formerly a gas supply to the property but this has since been isolated.
Ground Floor: Salon/trading area, tanning room, office, kitchen, wc
Outside: Parking for in excess of one car
Tenanted - Five year lease from June 2021, achieving a monthly rental of £650 per month
Advised Freehold - to be verified by solicitor
Auction fees: The sale of each lot is subject to a buyer’s premium of 1.2% of the purchase price (subject to a minimum of £975) including VAT unless otherwise stated.
Additional costs: The purchase of the property may be subject to (but are not limited to), VAT (if applicable), reimbursement of the seller’s search fees, reimbursement of seller’s legal and/or sales costs, stamp duty. Please check accompanying legal pack for further details.
* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
This auction is now closed.
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