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The guide price has been reduced.
ONLINE AUCTION from 16th MAY-18th MAY
A ground floor shop unit.
The retail unit is currently tenanted and is occupied by Gibb Menswear. The property is currently achieving £5,500 per annum rental income, with the tenancy end date being the 30th September 2028.
The property is of brick and concrete frame construction with a ground floor lock up shop under a concrete framed canopy. The retail unit has a standard shop front with single doorway opening into a sales area together with facilities.
This property is located on the main thoroughfare running through the town of Lydney. The town is situated within the Forest of Dean District which lends itself to tourism.
Lydney railway station is situated approximately a 20 minute walk from the property, this station provides access to Gloucester and Newport.
|Floor||Description||Area Sq Ft||Area Sq M|
|Ground Floor||Retail Area||489||45.09|
|Tenant||Tenancy Type||Start Date / End Date||Tenancy Term||Rental Amount|
|Gibbs Menswear||Peppercorn Rent||End Date: 30th September 2028||£5,500 pa|
Leasehold 2000 year lease from 1998, peppercorn rent
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 £1,200) 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/land transaction tax (LTT). 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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