Find Out More
Bed Industrial, Investment For Sale
For sale by Modern Method of Auction: Starting Bid Price £315,000 plus Reservation Fee.
The property provides an income producing investment with two retail units on the ground floor and two self-contained residential apartments above.
Although there are no formal leases in place, both tenants are well established and have been in occupation for a number of years.
The residential section is accessed at the side of the property and provides a 1-bedroom apartment and a 2 bed apartment which are currently vacant and have recently been refurbished and are very well presented and decorated to a high standard throughout.
This property is for sale by the Modern Method of Auction. Should you view, offer or bid on the property, your information will be shared with the Auctioneer, iamsold.
This method of auction requires both parties to complete the transaction within 56 days of the draft contract for sale being received by the buyers solicitor. This additional time allows buyers to proceed with mortgage finance (subject to lending criteria, affordability and survey).
The buyer is required to sign a reservation agreement and make payment of a non-refundable Reservation Fee. This being 4.20% of the purchase price including VAT, subject to a minimum of £6,000.00 including VAT. The Reservation Fee is paid in addition to purchase price and will be considered as part of the chargeable consideration for the property in the calculation for stamp duty liability.
Buyers will be required to go through an identification verification process with iamsold and provide proof of how the purchase would be funded.
This property has a Buyer Information Pack which is a collection of documents in relation to the property. The documents may not tell you everything you need to know about the property, so you are required to complete your own due diligence before bidding. A sample copy of the Reservation Agreement and terms and conditions are also contained within this pack.
The buyer will also make payment of £300.00 including VAT towards the preparation cost of the pack, where it has been provided by iamsold.
The property is subject to an undisclosed Reserve Price with both the Reserve Price and Starting Bid being subject to change.
Should you opt to use Conveyancing Services recommended by iamsold or the Partner Agent, please be advised that the iamsold will receive payment of up to £450.00 from the Conveyancing Provider for that recommendation where the services are taken, and a sale completes. It is important to note that recommended services are optional, and you should consider your options carefully before accepting any recommended services.
VAT is payable by the Buyer upon completion to their solicitor. This is to be paid in addition to the Sale Price.
Book directly into the agent's calendar
Free Instant Online Valuation
Book a valuation through email request