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ONLINE AUCTION from 26th JULY-28th JULY
Located on the junction of Union Street and Church street, this property is well positioned. The property is situated on the easterly outskirts of Welshpool town centre with surrounding areas including residential, car parking and leisure.
The property comprises a three storey semi detached building of mainly solid brick construction beneath a pitched tiled roof. Rear elevation appears to be stone construction.
Please note that Paul Fosh auctions have not attended the property, it is however believed that the premises is comprised of a hot food takeaway with public waiting area, kitchen and stores to the ground floor. With two bedrooms and bathroom to the first floor. It is believed that there are further rooms to the second floor.
A valuation report taken in 2011 indicated that there was a tenancy in place dated the 19 of January 2004. The lease term was stated to be 15 years commencing the 18th of January 2007. With the annual rent being £13,875. It is reported that the lease is an internal repairing and insuring basis, and provides option for rent reviews on the third anniversary. In 2011 it is suggested that the lease was amended to ‘ground floor only’ with the tenant paying a weekly rental of £125. As Paul Fosh Auctions have not received confirmation of the tenancy, this property is sold subject to any remaining tenancies that may exist.
Sold subject to any tenancies that may exist.
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.
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