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
Freehold Investment. Substantial two storey property providing two ground floor retail units with two bedroom flat above. Ideal investment opportunity.
LOCATION
The property is situated on the main Melton Road (A607), within the popular Belgrave Area near to 'The Golden Mile'. The property provides easy access to the main M1 & M69 Motorway Networks via the outer ring road.
ACCOMMODATION
Two Ground Floor Retail Units:
Accessed via personnel door with access to the two retail units.
294 Melton Road - large sales area, lobby with washroom.
296 Melton Road - sales area, kitchen, stores.
First Floor Flat (separate access):
UPVC double glazed entrance door, stairs leading to flat.
Landing, open plan lounge / kitchen, two bedrooms, shower room.
TENURE
Freehold subject to existing lease & tenancy.
NOTE
Purchasers are to be made aware that an additional charge of 0.75% + VAT of the purchase price will be collected on completion by the seller to cover costs incurred in selling the property.
The completion date will be on or before 28th February 2025 following exchange of contracts.
ENERGY PERFORMANCE CERTIFICATE
EPC Rating D.
| Floor | Tenure | Rent Income | Rental Income (Per Annum) |
|---|---|---|---|
| Ground Floor - Retail | Vacant | £1,000.00 p.c.m - Estimated | £12,000.00 - Estimated |
| Ground Floor - Retail | Let for a term of 10 years from 29th July 2022 | £1,040.00 p.c.m | £12,480.00 |
| First Floor - Flat | Let on an Assured Shorthold Tenancy for a term of 6 months from 04.08.24 | £775.00 p.c.m | £9,300.00 |
| Current Rental Income: | £1,815.00 | £21,780.00 | |
| Estimated Full Rental Income: | £2,815.00 | £33,780.00 | |
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 £1,800.00 inc 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.