Lot O13 - 71-75 High Street, Bala, Gwynedd, LL23 7AE

  • Unconditional Online Auction Sale
  • * Reserve not to exceed : £70,000

Addendum

The correct address is Land and Buildings forming part of 73-75 High Street, Bala, LL23 7AE as stated in the Special Conditions of Sale.

Freehold Shop and Residential Investment

  • Comprising two shops and a self-contained maisonette
  • Established town centre location

Tenure

Freehold

Location

The property is located on the north-west side of High Street (A494), between its junctions with Cambrian Terrace and Arenig Street.
Occupiers close by include HSBC, Subway, Spar, Post Office, Tenovus, Rowlands Pharmacy and the Co-op amongst a number of local traders.

Description

The property is arranged on ground and two upper floors to provide two ground floor shops with a self-contained maisonette above, accessed via a recessed entrance between the two shop units, fronting the High Street.

VAT

VAT is applicable to this sale, please refer to the legal documents for further details.

To View

There will be a single block viewing held prior to the auction. If you would like to attend you must register with us in advance no later than 12 noon on Thursday 6th September.

Please email amy.heuch@allsop.co.uk with the name and mobile number of each party wishing to attend. Photographic ID will be required on the day. In the subject box of your email please enter Lot O13 Bala.

Current Rent

Total Current Rents Reserved £6,600 p.a. plus a vacant maisonette

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 £70,000

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Auction Ended

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* Reserve not to exceed:
£70,000
Gross initial yield:
9.4% plus vacant maisonette
No. Present Lessee Accommodation Terms of Lease Agreement Current Rent £ p.a Next Review / Reversion
71 L Symonds and S Symonds Gross Frontage
Net Frontage
Shop Depth
Built Depth
Ground Floor
3.35m
2.90m
7.55m
10.80m
30.2 sq m
(11' 0")
(9' 5")
(24' 7")
(35' 36")
(325 sq ft)
3 years from 23.03.2015
Repairing and Insuring
£3,600 p.a. Holding Over
73 G Williams Gross Frontage
Net Frontage
Shop Depth
Built Depth
Ground Floor
4.05m
3.85m
5.50m
7.15m
15.7 sq m
(13' 2")
(12' 6")
(17' 9")
(23' 42")
(169 sq ft)
3 years from 29.03.2018
Repairing
£3,000 p.a. Reversion 2021
75 Vacant First and Second floor Maisonette comprising 4 Rooms, Kitchen and Bathroom
Total £6,600 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.