Auction House London

Lot 81

Mixed Use - Commercial Property 

245 & 245A Rake Lane

Wallasey, Merseyside, CH45 5DJ

Sold prior to auction for an undisclosed amount.

A Mixed Use Commercial and Six Bedroom HMO Investment Part Let Producing £19,536 per annum. ERV if Fully Let is £43,200 per annum

Description

The property comprises a mid terraced building arranged over ground and two upper floors internally laid out to provide a ground floor shop with six bedroom HMO self-contained flat above.

Tenure

Freehold

Location

The property is situated on an established parade close to other local shops and amenities. The open spaces of Vale Park are within easy reach. Transport links are provided by New Brighton rail station.

Addendum

Since the property was originally listed, 5 of the letting rooms have become vacant. New Tenants are currently pending for rooms 2 and 6 at a rent of £390pcm. Room 1 is occupied and the remaining 3 vacant flats are being advertised for let by the local managing agents

Accommodation & Tenancy Schedule

Property Floor Accommodation Tenancy Details Current Rent
245 Rake Lane Ground Retail Unit 1 (Gents Barber) 7 Year Commercial Lease From Oct 2018 £655 PCM
245 Rake Lane Ground Retail Unit 1 (Ladies Salon) 7 Year Commercial Lease From Oct 2020 £583 PCM
245A Rake Lane First
Second
Three Letting Rooms (with En-Suite) & Communal Reception/Kitchen
Three Letting Rooms (with En-Suite)
Individual Tenancies
(please refer to the legal pack)
Currently Producing £390 pcm
(ERV when fully let is £2,340 pcm)

Joint Agent

Additional Fees and Disclaimer

Administration charge: £1,500 including VAT unless otherwise stated in the addendum.

Buyers Premium and Disbursements: Please see the legal pack and the addendum for any disbursements and buyers premium that may be payable by the purchaser on completion.

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.

Particulars including images and video tours on the website and within the catalogue are believed to be correct but their accuracy is not guaranteed. The auctioneers will always endeavour to inform prospective purchasers of variations to the catalogue, when such changes are brought to their attention. The auctioneers nor their clients can be held responsible for any losses, damages, or abortive costs incurred in respect of lots that are withdrawn or sold prior to auction. Viewings are carried out by third party agents and we will endeavour to give appropriate notice should the published viewing time change. Auction House London will not be liable for any costs or losses incurred due to viewing cancellations or no shows. Information relating to Rating matters has been obtained by verbal enquiry only. Prospective purchasers are advised to make their own enquiries of the appropriate authorities. Prospective purchasers are deemed to verify for themselves whether tenanted properties are occupied and rents are being paid. All measurements, areas and distances are approximate only. Potential buyers are advised to check them. No representation or warranty is made in respect to the structure of any properties nor in relation to their state of repair. Prospective buyers should arrange for a survey of the particular lot by a professionally qualified person.

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Sold Prior/b>
For further information, please register for the legal pack. To speak to a member of our team about this lot, please call us on 020 7625 9007 or email us at info@auctionhouselondon.co.uk

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Enquire about 245 & 245A Rake Lane, Wallasey, Merseyside, CH45 5DJ

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