Lot O16 - 11-11B Stand Lane, Radcliffe, Manchester, Lancashire, M26 1NW

  • Unconditional Online Auction Sale
  • * Reserve not to exceed : £95,000

Freehold Vacant Shop and Residential Investment

  • Comprising a shop and two self-contained flats
  • Shop to be offered vacant.
  • Town centre location.

Tenure

Freehold

Location

The property is situated on the north side of Stand Lane, between its junctions with Milltown Street and Peel Street and adjacent to the pedestrianised Blackburn Street, a main trading location within the town.
Occupiers close by include Boots and William Hill amongst a number of local traders.

Description

The property is arranged on ground and two upper floors to provide a ground floor shop with two self-contained flats above.

The flats are accessed from Stand Lane, to the front of the property.

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 Wednesday 5th 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 O16 Manchester.

Current Rent

Total Current Rents Reserved £9,780 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 £90,000

This auction lot is now closed.

Auction Ended

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* Reserve not to exceed:
£95,000
Gross initial yield:
10.3% plus vacant shop
No. Present Lessee Accommodation Terms of Lease Agreement Current Rent £ p.a Next Review / Reversion
11 Vacant Gross Frontage
Net Frontage
Ground Floor (1)
5.4 m
3.4 m
34.2 sq m
(17' 9")
(11' 2")
(368 sq ft)
11a Individual (2) Flat 12 month Assured Shorthold Tenancy from 22.11.17 £4,740 p.a. Reversion 2018
11b Individual (3) Flat Assured Shorthold Tenancy from 04.08.2016 £5,040 p.a. Holding Over
Total £9,780 p.a.
(1) Not measured by Allsop. Floor area sourced from www.voa.gov.uk
(2) A rental deposit of £395 is held.
(3) A rental deposit of £420 is held.
  • * 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.