*For sale by Modern Method of Auction Starting Price £275,000, plus Reservation Fee NO CHAIN*

Prime Investment opportunity 

Your Choice estate agents are delighted to offer a prominent Ex Post Office Retail Shop premises CURRRENTLY TRADING AS GENTS HAIR STUDIO  within university area of Bradford which is also close to city center of Bradford West Yorkshire. Bradford Uni is a short distance and located close to city center. Bradford is a thriving city with a reputation for good restaurants and bars. The popular Bradford College is one of Yorkshire's most established institutions offering young generation a real opportunity, and the area is first for fast food hot spot in Bradford. Whatever your taste there are plenty of restaurants covering all world cuisines.

DESCRIPTION

A stone-built terrace property comprising of large retails unit with 4 beds flat above.

The retail unit comprises as a aluminium fronted shop front with electric shutter, a good ground floor retail unit with

kitchenette/staff room along with WC . Access is available to the rear for deliveries and bin collection or staff smoking area.

The premises provide the following approximate,

ENTRANCE

A access leading to ground floor area on left in to shop floor

Shop floor area 32'8' x 17'

An open space to ground shop floor space with a large newly installed aluminium window with display to the front and overlooking both elevations. T

Squire shaped retail/sales area with central recessed access doorway and high ceiling throughout

Rear area with Staff WC Facilities.

Seeking rental income

£9100 Per Annum for current year and then it has tiers for year two and three– for the commercial element only

£7200 Per Annum – for the residential element only, the flats have lot more potential as HMO which has lot more higher yield potential.

Basement

A internal access leading to the basement with power meters inc gas and electric.

Residential Element

Rear entrance door and from rear elevation leading to kitchen to staircase, First Floor first floor bathroom plus living room, 2 x Double bedrooms which are not part of this let and only information purpose.

Potential RENTAL income 

Potential income £7000-8000 Per Annum as single let – or £95 per room per week x 4 rooms = £20000 approx. rental income from flat alone however the retail shop is currently £9100 Per Annum for current year and then it has tiers for year two and three– for the commercial element only, This proeprty has potential rental income of in circle of £30k plus pa. 

The above flat is a 4-bed self-contained flat ideal for students to occupy during their study, the property is being refurbished at present. 

STARTING PRICE

£275000

EXTERIOR

FRONT

The property has small garden to the front and a yard at area at rear.

REAR

A court Yard area with side entrance and other amenities near by. .

VIEWING

Viewings are strictly by appointment only with SOLE AGENTS Your Choice Estate Agents

DIRECTIONS

Please use google map to help to find the correctly.

TENURE

The property is offered as FREEHOLD

EPC

ENERGY PERFORMANCE CERTIFICATE

The Energy Performance Certificate (EPC) rating for

the property is:- F- 82

For Sale by Modern Method of Auction – T & C's apply

Disclaimer

For sale by Modern Method of Auction Online .

Terms

The auction for this property will be conducted online through our online-bidding platform. This is a “Timed Auction”, so there are no other lots being sold alongside this property.

The time slot for the auction is displayed on Your Choice Auctions' website. To view this, search for the property on their website. Then click onto the property to view the property details. The time remaining to bid and end date of the auction is displayed on the page.

You are required to undertake identity checks before you can be authorised to bid. You must also provide your payment details. If you do not provide this information, your registration will not be processed.

When you place your bid, you are deemed to have agreed to Your Choice Auctions' Buyers Terms (England & Wales) which are available on Your Choice website.

Auction type - Conditional with Fixed Fee

If you are the highest bidder when the auction for the property comes to an end, you will enter into a reservation agreement with the seller. You must then pay the applicable reservation fee. You will then have 56 business days within which to exchange contracts and complete the sale, unless the Special Conditions of Sale contained within the Legal Pack specify a different time limit. If you fail to do so, you may lose your reservation fee. During the 56-business day reservation period, the seller is not able to accept other offers.

Auction Fees

The following non-refundable fees apply:

Buyer's Fee- payable on exchange of contracts. This is calculated as a percentage of the actual purchase price of the property. Either:

(a) 4.8% (including VAT) of the purchase price, for properties up to and including £250,000

(b) 3.6% (including VAT) of the purchase price for properties sold for over £250,000

The Buyer's Fee is subject always to a minimum of £6,000 (including VAT). The Buyer's Fee does not contribute to the purchase price.

Deposit

On exchange of contracts, you must pay a non-refundable deposit equal to 5% of the actual purchase price of the property, subject to a minimum of £5,000. The deposit contributes towards as part of the purchase price.

Payment Method

When you register to bid, you will be prompted to provide your payment details to Your Choice Auctions In the event that you are the winning bidder, your card will automatically be charged a proportion of the Buyer's Fee & Deposit. The payment will be calculated based on the guide price of the property, in line with the fee scale described above. Where the actual purchase price is higher than the guide price, you will be required to pay the difference immediately after the end of the auction, which can be paid by debit card or bank transfer. Payment by cash or cheque will not be accepted.

Example: If you win the bid on a property with a guide price of £150,000, but the actual purchase price is £170,000. At this point your bid is successful you will be charged as follows:

Buyer's Fee of £7,200- 4.8% of guide price

Deposit of £7,500- 5% of the guide price

As the actual purchase price amounted to £170,000, after the auction, you will be required to pay the following additional amounts on top of the initial payment:

£960 for Buyer's Fee shortfall (£8160 due as 4.8% of actual purchase price)

£1,000 for Deposit shortfall (£8500 due as 5% of actual purchase price)

Legal Pack

Before bidding, you must view the legal pack for the property. This is the collection of legal documents that apply to the sale. The documents will include but are not limited to: Special Conditions of Sale, title documents from the Land Registry and Energy Performance Certificate.

To view the legal pack, first search for the property on Your Choice Auctions' website and click onto the property to view the property details. There will be a sub-heading “Legal Documents”. Underneath this, you will be prompted to “Log in to view the legal documents”. Follow this link, you will then be directed to create an account with Auction Passport to view the documents.

The legal pack can change at any time up until the auction starts so you must check for the most recent version of the legal pack. At the point of placing your bid, you are deemed to have read the legal pack in its entirety, including any changes. Failure to check for changes to the legal pack will not be a valid reason for withdrawing from the sale.

It is strongly recommended that you instruct a qualified professional to review the legal pack and raise any necessary enquiries before bidding.

Buyer Information about legal pack

If the Buyer Information Pack has been produced and provided by Your Choice any successful purchaser will be required to pay £300.00 (including VAT) towards the cost of the preparation of the pack. These can then be used by your solicitor to progress the sale.

Special Conditions of Sale

The property is sold subject to any Special Conditions of Sale. These are contractual conditions that are included by the seller of the property - they are not part of Your Choice Auctions' terms and conditions. The Special Conditions of Sale are legally binding. You are taken to have read and accepted these at the point of bidding, even if you have not done so. The Special Conditions of Sale are available to read in the legal pack.

Any successful buyer will pay this to secure the sale. *The reservation fee is in addition to the purchase price*. Please take this into account when bidding.

A reservation fee is payable by the buyer only when the seller chooses pay no fees to sell via this method. As sellers pay no fees to sell, this is usually taken into account with a lower reserve price as result.

This property is being sold under the Modern Method of Auction, which requires the completion of the purchase to be within 56 days, although all reasonable endeavors must be made to exchange contracts within 28 days following the Draft Contract being received by the Buyer's Solicitor. For More details please check with your solicitors.

A non-refundable Reservation fee must be paid by the buyer by 3pm on the same day following the conclusion of the auction or acceptance of an offer. This must be paid by cleared funds to the auctioneer who will issue an acknowledgement of reservation and purchase agreement in the 28 day period following the auction or the date of acceptance of the offer.

Buyer Other Fees to Consider

There are no other fees or charges payable to the Auctioneer however, there are other costs to consider such as:

• You will need a Solicitor to act for you during the conveyancing and your Solicitor will advise you in relation to the associated costs. If you do not have a Solicitor, we can recommend the services of one of our recommended Solicitors who are all selected prior for their expertise in Auction Transactions. Please call the number below for more information.

• Stamp Duty Land Tax (SDLT) is applicable if you buy a property or land over a certain price in England, Wales or Northern Ireland. Please click here for more information. Please check with your solicitor prior to bidding or placing the offer to plan your purchase.

Registration Process

To register to bid on the property, search for the lot on Your Choice Auctions' website. Click onto the property, follow the link to “Log in/register to bid”, and you will then be directed to create an account with the online.

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