LOT
133
£275,000+*
Guide price (+ fees)
A fabulous investment opportunity to acquire a freehold town centre premises comprising of a ground floor retail unit currently let to a long established tenant, on a fully repairing/insuring lease, with rents passing on a six year renewable term of £12,500 + vat, along with two x 1 bedroom first and second floor self contained flats, both let on assured shorthold tenancies and currently generating incoomes of £8,820 pae and £7,800 pae respectively, with the potential for an increase of the rental income of the second floor flat in 2024. The whole currently providing a combined income of £29,120 pae.
Queen Street is situated in the thriving market town of Newton Abbot and is currently undergoing a programme of regeneration to further enhance the location. Newton Abbot offers a wide variety of shopping and leisure facilities, retail parks, race course and supermarkets, being readily accessible to the A380/A38/M5 road networks and having the benefit of a mainline railway station.
Self contained retail unit of 64.7 square metres, comprising of two retail zones, staff toilets, kitchen and store room, with a VOA rating £10,750.
Flat 1: Telephone entry system, entrance hall, open plan lounge/kitchen/diner, double bedroom and bathroom.
Flat 2: Telephone entry system, open plan lounge/kitchen/diner, double bedroom and bathroom.
Strictly by prior appointment with Fulfords Newton Abbot 01626 351951. General enquiries Countrywide Property Auctions 01395 275691.
Retail premises - B
Flat 1 - D
Flat 2 - D
Retail premises - £10,750
Flat 1 - A
Flat 2 - A
GET READY TO BID BY VISITING THE AUCTIONEERS WEBSITE
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.
105 - 107 Queen Street, Newton Abbot, Devon TQ12 2BG
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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.
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.
You will also pay a Buyers Administration Charge, to the auctioneers of 1.35%+VAT of the purchase price subject to a minimum fee of £1,800 + VAT (unless otherwise stated in the property description in the catalogue or addendum).
You are bidding on the basis that you have made all necessary enquiries, particularly in respect of lots the auctioneer has not inspected or had initial sight of tenancy details, and have checked the General and Special Conditions of Sale and are satisfied that you fully understand their content. Please note that some legal packs may contain additional fees (such as the requirement for the seller to pay the vendor's legal fees).
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