The property comprises a single story commercial shop situated on a busy mixed use paraded, offered with the potential build a five storey 11 room hotel. (Subject to Obtaining All Relevant Consents). The property was previously leased to Tasty African Restaurant Limited for £30,000 per annum.
We have been advised that there is further income potential by way of 'pop up' advertising on the hoarding whilst under development currently offering £26,000 per annum. Potential for re letting during development with a combined ERV of £56,000 per Annum.
An administration charge of £1,500 (including VAT) applies unless otherwise stated in the addendum. The legal pack and addendum contain details on any additional buyer's premium and disbursements that may be payable upon completion. *Starting price estimates ("guides") are subject to change before the auction. These are not guaranteed selling prices. Each property has a reserve price, the minimum acceptable selling amount, which we expect to be within the guide range or up to 10% above.
While we strive for accuracy, information including images, video tours, and descriptions cannot be fully guaranteed. We will make every effort to inform potential buyers of any changes to the catalogue. Measurements and areas are approximations, and potential buyers are advised to verify them independently. The same applies to tenanted properties - we recommend you confirm occupancy status and rent payments directly. A professional property survey is highly recommended for potential buyers. Neither Swift Property Auctions or their clients are liable for any losses or costs related to withdrawn/sold properties, viewing cancellations, or inaccurate rating information obtained through verbal enquiry only.
While these particulars are provided in good faith, they don't constitute factual representations or form part of any offer or contract. Prospective buyers or tenants should independently verify all information mentioned here. Furthermore, neither Swift Property Auctions nor its employees or agents hold any authority to make any guarantees or warranties regarding this property.
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