Lot O8 - 13/14 The Broadway, Eastbourne, East Sussex, BN22 0AS

  • Unconditional Online Auction Sale
  • * Reserve not to exceed : £25,000

Addendum

In the Special Conditions of Sale please note that VAT is not applicable

Freehold Vacant Shop and Residential Ground Rent Investment

  • Comprising a Vacant Shop and Flat (sold off)
  • Located within an established shopping precinct
  • Asset management opportunity
  • VAT not applicable
  • Total Current Rents Reserved £150 p.a. Plus Vacant Shop

Tenure

Freehold.

Location

The property is located to the north-west of Eastbourne town centre in the residential suburb of Hampden Park. The property forms part of a shopping precinct situated at the junction of The Broadway and Lindfield Road and serves the needs of the densely populated residential area.
The precinct is made up of predominantly local occupiers and a newly opened Co-Operative food store.

Description

The Property is arranged on ground and one upper floor to provide a ground floor shop with a self-contained flat above (which has been sold off), approached via a separate rear entrance. To the rear is a lock-up garage let with the flat.

VAT

VAT is not applicable to this lot.

Buyers Fee

Buyers Fee -The successful purchaser will be required to pay the auctioneers administration fee of £600 inclusive of VAT. Other additional costs/fees may apply please see Special Conditions of Sale


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Sold for £54,000

This auction lot is now closed.

Auction Ended

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* Reserve not to exceed:
£25,000
Gross initial yield:
No. Present Lessee Accommodation Terms of Lease Agreement Current Rent £ p.a Next Review / Reversion
No. 14 Vacant Gross Frontage 6.45m (21' 2")
Net Frontage 5.20m (17' 1")
Shop Depth 11.10m (36' 5")
Built Depth 13.15m (43' 2")
-
No. 13 Individuals First Floor Flat and Garage No.3 999 years from 11/05/2007 £150 p.a. Reversion 3006
Total £150 p.a.

  • * The Reserve Price is the minimum price at which the auctioneer is authorised to sell the lot at auction. The lot may be sold to the highest bidder at or above the Reserve Price but the auctioneer is not authorised to accept a bid below the Reserve Price.
  • The Reserve Price will only be disclosed once it has been met during bidding and not before.
  • The term "reserve not to exceed £..." means that the seller's lowest acceptable sale price will not exceed the quoted figure. The reserve price will not be set above this figure. However, it could be set at, or indeed below, the "reserve not to exceed" figure stated.
  • Reserve prices are subject to change up to the date of the auction.
  • At the commencement of marketing a starting price is to be announced. The starting price will be published 24 hours before bidding opens.
  • Lots may be withdrawn prior to auction.