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. Majority commercial investment, comprising of three retail units & two bedroom self contained flat, situated within Hinckley Town Centre.
LATE ENTRY TEXT:
Late Entry A
LOCATION
The properties are situated in Hinckley Town Centre occupying a prominent trading position in the pedestrianized part of the Town Centre, close to the junction with Regent Street. There are a host of major retailers nearby to include Llloyds Bank, HSBC Bank, Subway & Greggs. The properties provide excellent transport communications to the M6 & M69 Motorway Networks.
ACCOMMODATION
The properties comprise of a pair of mid-parade retail units currently trading as a newsagents, hairdressers & stores. To the rear of the property is a yard area which provides a large outbuilding which could be converted into residential subject to obtaining the necessary planning consent. There is a separate stairwell providing access to the self contained flat.
TENURE
Freehold subject to existing tenancies.
NOTE
No.9a The Borough have been in occupation since April 2003.
VAT is payable in additional to the purchase price.
The completion date will be on or before eight weeks following exchange of contracts.
ENERGY PERFORMANCE CERTIFICATE
EPC Rating to be confirmed.
| Property | Tenant | Lease Terms | Rental Income |
|---|---|---|---|
| N0.7 The Borough | Mejay Ltd | Let from 23/02/15 for a term of 12 years. | £13,950 per annum + VAT |
| N0.7a The Borough | N/A | Let on an assured shorthold tenancy for a term of 6 months from December 2015 | £4,800 per annum |
| No. 9 The Borough | N & S Aggarwal | Let on a monthly license agreement (The auctioneers feel that the rent achievable could be £16,000 per annum let on a formal lease) | £6,000 per annum + VAT |
| No.9a The Borough | G & N Bailey (Baileys Hair Design) | Let from 10th April 2010 for a term of 5 years (Landlord & tenant close to signing new lease for term of 5 years to 2020) | £7,500 per annum + VAT |
| Current rental income | £32,250 per annum | ||
| Estimated full rental income | £42,250 per annum | ||
SOLICITORS
Philip J Hammond
47 Friar Lane, Leicester, LE1 5QX
TEL: 0116 251 7171
EMAIL: rosemariesculthorpe@pjhammond.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.