FOR SALE BY AUCTION: Wednesday 14 Dec 2016




8 Uppingham Road, Leicester, LE5 0QD

Unsold available at £188,000


DESCRIPTION

Freehold. Ground floor offices with first floor self contained flat above situated amongst other retailers and established businesses.

LOCATION

The property is situated on the main A47 Uppingham Road which is a busy through fare within a residential area.

ACCOMMODATION

Ground Floor Offices:
Reception area, office, store room, kitchen & WC.

First Floor Flat:
Separate access provided, landing, living room, bedroom, kitchen & shower room.

Second Floor:
Bedroom two.

TENURE

Freehold subject to existing tenancies. The ground floor is currently let however the tenant will be vacating in December 2016. The first floor flat is let on an Assured Shorthold Tenancy for a term of 12 months from 20th July 2016 at a rent of £550.00 per calendar month exclusive (£6,600.00 per annum).

The auctioneers feel that the estimated rental income of the ground floor would be £700.00 per calendar month exclusive (£8,400.00 per annum). Therefore the estimated full rental income would be £15,000.00 per annum.

NOTE

There is no VAT payable in respect of this Lot.
The completion date will be on or before eight weeks following exchange of contracts.

ENERGY PERFORMANCE CERTIFICATE

EPC Rating E.

JOINT AGENT

Armani & Bros

TEL:
EMAIL:

SOLICITORS

Bank Solicitors Limited

TEL:
EMAIL:

*GUIDE PRICE & RESERVES

Definition of Guide Prices:
The guide price is an indication of the seller’s current minimum price expectation at auction and the guide price, or range of guide prices, is given to assist prospective purchasers. The guide price can be adjusted by the seller at any time up to the day of the auction in light of the interest shown during the marketing period and bidders will be notified of this change on our website and by the auctioneer prior to the lot being offered.

Definition of Reserve Price:
The reserve price is the seller’s minimum acceptable price at auction and the figure below which the auctioneer cannot sell. It is usual, but not always the case that a provisional reserve is agreed between the seller and the auctioneer at the start of marketing and the Final Reserve Price will be agreed between the auctioneer and the seller prior to the auction sale. Whilst the reserve price is confidential it will usually be set within the quoted guide range and in any event will not exceed the highest quoted guide price.