Lot 83
    Mixed Use
    7-9 Queen Street
    Redcar, Cleveland, TS10 1DY
    Unsold, the last bid was £274,500. Please refer to Auctioneer for Reserve
     
    Number 1
    A Commercial and Residential Investment Producing £48,360 per annum (Rising to £51,660 per annum in November 2018)

    Tenure

    Freehold

    Location

    The property is situated on an established parade in Redcar. Nearby multiples include HSBC, Barclays and numerous other local traders. Transport links are provided by Redcar Central Rail Station.

    VAT

    VAT is applicable

    Description (2nd Column)

    The property comprises a mid terraced building over ground and two upper floors arranged as a ground floor shop with four self-contained one bedroom flats above (all recently refurbished).

    Viewing Details

    Open House Viewings To Be Confirmed
    For all enquiries please contact us directly on 0207 625 9007

    Accommodation & Tenancy Schedule

    Property Floor Accommodation Tenancy Details Current Annual Rent
    Shop Ground Gross Frontage 12.5m
    Net Frontage 11.50m
    Shop Depth 22.00m
    Ground Floor 329.47m
    5 Year FRI lease to Advanced Personnel Management Group (UK) Ltd from 16th November 2016.
    Fixed Increase to £36,300 p.a. on 15th November 2018.
    £33,000. Rising to £36,300 on 15.11.18
    Flat A First One Bedroom Flat 6 Month AST from 25th July 2017 £3,900
    Flat B First One Bedroom Flat 12 Month AST 1st November 2016 £4,020
    Flat C Second One Bedroom Flat 12 Month AST 1st November 2016 £3,540
    Flat D Second One Bedroom Flat 6 Month AST from 13th July 2017 £3,900
    For further information, please register for the legal pack. To speak to a member of our team about this lot, please call us on
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    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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