Details

Freehold of 23 Central Drive, a lock-up shop, (currently tenanted)

Generating just over £11,000 per year to well established business.

This is for the Freehold interest, including the Freehold for the 3 bed maisonette above (long lease of 100 years sold off, so there is long term value in extending the lease)

There is the opportunity for rent increase and periodic reviews (Lease due for review August 2024) and there would be potential purchase for a SIPP or similar pension investment.

The Property not liable for business rates and Includes Freehold of maisonette above shop, long lease sold - service charge of £600 charged to tenant of flat above.

Includes small piece of land as you look at front of shop to the right - potential for development, subject to planning (Highlighted in Blue)

Significant footfall from Primary and Secondary schools (Oakwood and Beaumont) This is a well regarded residential area.

Buyers Administration Fee Applies upon the fall of the hammer, the Purchaser shall pay a 10% deposit (subject to minimum of £5,000, whichever is the greater) and a Buyers Administration Fee of £1500 and contracts are exchanged.

The purchaser is legally bound to buy and the vendor is legally bound to sell the Property/Lot. The auction conditions require a full legal completion 28 days following the auction (unless otherwise stated in the legal pack or on the sales details).

To register to bid on the property, find the property on the Benjamin Stevens Auctions website. Click onto the property, follow the link to “Log in/register to bid” You will then be directed to create an auction passport account through our partners, the Essential Information Group.

Tenure

Freehold

• Auction Date

  29/02/2024

• Auction Time

  11:15AM

• Auction Venue

  Live Stream - Online

Viewing Times

Fri 23 Feb  12:00-12:30

Wed 28 Feb  12:00-12:30