COVID-19 – Important Auction Information
For Sale By Auction | 19:00, 10 November 2021 | Lot 6

4 Kingshill Road, Dursley, Gloucestershire, GL11 4EJ

*Guide | £300,000 (plus fees)

  • Commercial Property
  • 2 Bedrooms
  • Tenure: Freehold

Call the team on 0117 946 4949 for more information

Auction Date

Wed 10/11/2021

Auction Time

19:00

Auction Venue

Live Stream Auction Live Stream Auction,

High yielding commercial investment let on a full repairing and insuring lease at £23,712 pa with scope to increase.

Situated in a prominent corner position on the outskirts of the town centre this is a well established fish & chip shop with 2 bedroom flat above. The property is occupied under a 25 year FRI lease with current rent at £23,712. With approximately 11 years still to run on the current lease and with 3 yearly rent reviews the property offers a good rental return. The accommodation comprises a lock-up shop of approximately 77 sqm on the ground floor. An external staircase provides access from the rear yard to a first floor self-contained 2 bedroom flat. To the rear of the property is a good sized hard landscaped yard with overgrown parking area. Long term this may offer potential for development once the lease ends.

Tenure

Freehold

Lease Terms

• 25 year lease from 3rd July 2007 • Initial rent £19,760 per annum • Current Rent £23,712 per annum • Rent reviews every 3 years, next one due July 2022. We are informed the rent review process from 2019 was started but never finalised due to the Covid-19 pandemic and there is potential to increase rent to circa £28,000 - £30,000 per annum.

Viewings

By appointment with Auction House

For sale by LIVE STREAM Auction

on 10th November 2021 start time to be confirmed. In order to take part you must complete the registration form and return it together with two forms of ID. You will then be able to bid from the luxury of your own home either over the internet, by phone or by proxy. Please note the auctioneers have made their best endeavours to disclose all additional fees. Interested parties should refer to the special conditions of sale contained in the Legal Pack for any late amendments or additions to these fees as well as the auction day addendum sheet prior to bidding.

Legal Pack

A full auction legal pack can be downloaded from the Auction House Bristol website once available. For further information on the other lots in this auction please visit the website.

Energy Efficiency Rating (EPC)

Current Rating Shop - C. Flat - D

Local Authority

Stroud District Council

Solicitors

WSP Solicitors, 2-7 Rowcroft, Stroud, GL5 3BJ, Tel: 01453 847234

Additional Fees

Buyer's Premium - 1.2% inc VAT of the purchase price payable on exchange of contracts.

Administration Charge - 0.3% inc VAT of the purchase price, subject to a minimum of £1200 inc VAT, payable on exchange of contracts.

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.