FOR SALE BY AUCTION: Wednesday 16 December 2020 Commencing at 5:00pm




281-285 Uppingham Road, Leicester, LE5 4DG

Sold prior to auction, for an undisclosed amount


Remote Bidding Auction

Auction to be streamed live on our website www.shonkibros.com
Bidding via Internet | Telephone | Proxy
You will need to pre-register for remote bidding, the form can be downloaded from our website and found within our auction brochure. Please ensure you provide your identification and a complete remote bidding form no later than 24 hours prior to the auction. Please do not hesitate to contact us if you are unsure of the remote bidding process.


DESCRIPTION

Commercial/ Residential Investment. A block of two ground floor retail units with four self contained flats above Let on Assured Shorthold Tenancies. Ideal investment opportunity.

LOCATION

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

ACCOMMODATION

The property is arranged over ground and upper floors to provide two retail units on the ground floor and four self contained flats above having separate access.

Residential Accommodation -
Flat 2 - Entrance hall, lounge, kitchen, two bedrooms, bathroom.

Flat 3 - Entrance hall, open plan lounge/kitchen, bedroom, bathroom.

Flat 4 - Entrance hall, lounge, kitchen, two bedrooms, bathroom.

Flat 5 - Entrance hall, open plan lounge/kitchen, bedroom, bathroom.

TENURE

Freehold subject to existing leases/tenancies:

NOTE

The completion date will be on or before eight weeks following exchange of contracts.

ENERGY PERFORMANCE CERTIFICATE

EPC ratings to be confirmed.

Floor Lease Terms Rental Income
Ground Floor - 281 Uppingham Road Let for a term of six years from 16th August 2013 (holding over) £8,250.00 per annum
Ground Floor - 285 Uppingham Road Let for a term of 10 years from 1st December 2017 £10,000.00 per annum
First Floor - Flat 2, 283 Uppingham Road Let on an Assured Shorthold Tenancy for a term of 12 months from 26th August 2020 £6,930.00 per annum
First Floor - Flat 3, 283 Uppingham Road Let on an Assured Shorthold Tenancy for a term of 12 months from 21st December 2019 £5,220.00 per annum
First Floor - Flat 4, 283 Uppingham Road Let on an Assured Shorthold Tenancy for a term of 12 months from 16th February 2019 (holding over) £6,060.00 per annum
First Floor - Flat 5, 283 Uppingham Road Let on an Assured Shorthold Tenancy for a term of 12 months from 6th May 2019 (holding over) £5,400.00 per annum
Current rental income: £41,860.00 per annum

SOLICITORS

Bond Adams Solicitors
94 London Road, Leicester, LE2 0QS
TEL: 0116 285 8080
EMAIL: shameela@bondadams.com

*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.

Buyer’s Fee / Additional Costs
For each Lot, a Buyers' Fee of £1,500.00 + VAT is payable on the fall of the hammer. Additional charges and fees might be charged by the seller and/or other third parties . You are strongly advised to read the Special Conditions of Sale for the Lot prior to bidding to check for any additional charges and fees and to check the addendum which might also (but does not always) contain details of such amounts.

Disclaimer
All measurements are approximate. Whilst we endeavour to make our sales particulars accurate and reliable, these approximate room sizes are only intended as general guidance. You must verify the dimensions carefully before. Shonki Bros have not tested any apparatus, equipment, fixtures, fittings or services and it is the buyers interests to check the working condition of any appliances. Potential buyers are advised to recheck the measurements before committing to any expense. While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property. These particulars are issued in good faith but do not constitute representations of fact or form part of any offer or contract. The matters referred to in these particulars should be independently verified by prospective buyers or tenants.