* Freehold
For sale by auction 22nd June: A high yielding mixed use investment property
comprising tenanted shop and 3 bed maisonette above. Now inviting entries for
our 27th July Auction, contact us for a free no obligation appraisal.
A high yielding mixed used investment property comprising lock - up shop and 3
bed maisonette above.
Gloucester Road is a busy and vibrant high street with a range of independent
and national retailers, cafes, bars and restaurants. No. 58 is a mid - terrace
property situated between Wolseley Road & Raglan Road. The property comprises
a ground floor shop/office let to an established tenant that has traded from
the property for over 25 years, with approximately 9 years left on the current
lease and is let at £12, 500 per annum. The upper floors comprise a 3 bedroom
maisonette let to students. A new 12 month AST commences on the 20th July at
£2025 pcm + bills.
With a total annual income of £36, 800 the property offers a gross annual
income of just over 9%.
**Ground Floor Accommodation** A communal entrance hall provides access to
the respective parts.
A use class E commercial premises currently occupied by a long established
letting and property management company which has traded from the property for
more than 25 years. The ground floor extends to approximately 48 sqm with use
of a rear garden. There is a large timber cabin with electricity, water and
drainage (by way of a macerator). We understand this is owned by the tenants.
Business Rates
The current rateable value is £7, 300.
Currently let on a 10 year lease with approximately 9 years left to run at
£12, 500 per annum.
Rateable Value
**Maisonette** Occupying the 1st and 2nd floors, this is a 3 double bedroom
maisonette. The first floor accommodation comprises living room, kitchen, and
bedroom with access to the garden whilst on the second floor are two further
bedrooms and a bathroom.
The property will be sold subject to a new 12 month AST commencing on the 20th
July 2023 at £2025 pcm.
Council Tax
Band B
**Viewings** By appointment only, please call us on **For Sale by Live Stream
Auction on 22nd June 2023** In order to take part you must complete the
registration form and return it together with two forms of id. You will then
be able to bid from the luxury of your own home either over the internet, by
phone or by proxy. Please note the auctioneers have made their best endeavours
to disclose all additional fees. Interested parties should refer to the
special conditions of sale contained in the Legal Pack for any late amendments
or additions to these fees as well as the auction day addendum sheet prior to
bidding.
**Legal Pack** A full auction legal pack can be downloaded once available.
For further information on the other lots in this auction please visit the
website.
**Tenure: ** See Legal Pack
**EPC Rating: ** Shop - C. Maisonette - E
**Terms: **
Guide Prices & Reserves
Guides are provided as an indication of each seller' s minimum
expectation. They are not necessarily figures which a property will sell for
and may change at any time prior to the auction. Each 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.
Additional Fees
Please be aware there may be additional fees payable on top of the final sale
price. These include and are not limited to administration charges and
buyer' s premium fees payable on exchange, and disbursements payable on
completion. Please ensure you check the property information page for a list
of any relevant additional fees as well as reading the legal pack for any
disbursements.
Plans, Maps and Photographs
The plans, floorplans, maps, photograph’s and video tours published on our
website and in the catalogue are to aid identification of the property only.
The plans are not to scale and should not be relied upon.
Consumer Protection Regulations 2008
City & Rural Property Auctions endeavour to make our sales details clear,
accurate and reliable in line with the Consumer Protection from Unfair Trading
Regulations 2008 but they should not be relied on as statements or
representations of fact, and they do not constitute any part of an offer or
contract. All references to planning, tenants, boundaries, potential
development, tenure etc is to be superseded by the information contained in
the legal pack. It should not be assumed that this property has all the
necessary Planning, Building Regulation, or other consents. Any services,
appliances and heating system(s) listed have not been checked or tested.
Please note that in some instances the photographs may have been taken using a
wide - angle lens. The seller does not make any representation or give any
warranty in relation to the property, and we have no authority to do so on
behalf of the seller.
Anti Money Laundering Regulations
Intending buyers will be asked to produce identification documentation either
as part of the bidder registration process of if they make an acceptable pre -
auction offer, we would ask for your co - operation in order that there will be
no delay in agreeing the sale.
Control of Asbestos Regulations
As per the Control of Asbestos Regulations 2012, the owner or tenant of the
property, or anyone else who has control over it and/or responsibility for
maintaining it, must comply with the regulations which may include the
detection of and/or management of any asbestos or asbestos related compounds
contained at the property. City & Rural Property Auctions have not tested or
inspected for Asbestos and therefore recommend all interested parties to make
their own enquiries.

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