Fully Let Mixed Use Investment Property – Currently Producing £55,200 pa
Not inspected but understood to be a substantial three storey corner property comprising ground floor Mediterranean Restaurant and Bar (Aquila Nero) with five flats on the upper floors (four two bed, one three bed) Tenacies We are informed by the vendor that the property is fully let as folows:- Retaurant - approximately 11 years remaining with current rent of £15,000 pax. The landlord has served rent review notice at £30,000 pax but this has not been instigated. The tenant may be willing to surrender his lease if required in return for a payment to be negotiated. The three-bedroom flat is let at £750 pcm along with the other 4 (two bed) £650 pcm each. Total rental income reserved at £55,200 pax. Location Located fronting St Petersgate at the corner of North Place in the centre of Stockport close to The Historic Market & Underbanks. Please refer to legal pack for additional fees and the Auction Information document for guidance prior to bidding.
See Legal Pack
Energy Efficiency Rating (EPC)
Current Rating C
Stockport Metropolitan Borough Council
Administration Charge - 1.5% inc VAT of the purchase price, subject to a minimum of £1500 inc VAT, payable on exchange of contracts.
Referral Fees – We offer referred services via 3rd party suppliers which we believe you may benefit from in aiding the primary service we provide. You are under no obligation to use these services, and you should consider your options before accepting any third parties' terms and conditions for which we are not responsible. On some completed transactions they pay referral fees to ourselves. These fees average £300 inc VAT.
Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.