Lot O11 - 2 Market Place, Melksham, Wiltshire, SN12 6EX

  • Unconditional Online Auction Sale
  • * Reserve not to exceed : £130,000

Freehold Betting Shop Investment

  • Situated on the main thoroughfare in the town
  • Let to H Backhouse (Baker Street) Limited until 2023
  • No VAT applicable
  • Rent Review December 2018

Tenure

Freehold

Location

The property is situated fronting the roundabout at the junction of Market Place, Spa Road and King Street.
Occupiers close by include The Original Factory Shop (adjacent), Lloyds Bank, the Town Hall, Kings Arms Hotel and a number of local traders.

Description

This property is arranged on ground floor only to provide a self-contained betting shop.

Tenant Information

For the year ended 26th March 2017, H Backhouse (Baker Street) Limited reported shareholders' funds of £1,763,165 and a net worth of £1,633,103. (Source: Experian 09.08.2018.)

VAT

VAT is not applicable to this lot.

Current Rent

Current Rent Reserved £13,000 p.a.

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 £153,000

This auction lot is now closed.

Auction Ended

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* Reserve not to exceed:
£130,000
Gross initial yield:
10.0%
No. Present Lessee Accommodation Terms of Lease Agreement Current Rent £ p.a Next Review / Reversion
2 H Backhouse
(Baker Street) Limited
Gross Frontage
Net Frontage
Return Net Frontage (LHS)
Return Net Frontage (RHS)
Shop and Built Depth
Ground Floor
13.70 m
12.75 m
6.25 m
6.35 m
6.55 m
82.75 sq m
(44' 11")
(41' 10")
(20' 6")
(20' 10")
(21' 6")
(891 sq ft)
15 years from 25.12.2008
Rent Review every 5th year
FR& I
£13,000 p.a. Rent Review 2018
Total £13,000 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.