Property for sale

Description: Excellent investment opportunity. A ground floor lock-up retail unit let to an established independent business at a passing rent of £7,500pa. Situated in a central position off Fore Street nearby occupiers such as St Margarets Hospice Charity Shop, Burns the Bread, Battens Solicitors, Co-Op. Within the Castle Cary Conservation Area, interested parties must satisfy themselves in respect of any planning matters.

Retail area; max depth 8.59m x 2.92m max width. Traditional timber panel glazed window frontage. Rear preparation room/staff room (7.31sqm), rear lobby, storage area and WC.

Net Internal Area: 31.27sqm / 337sqft

Gross Internal Area: 37.45sqm / 403sqft

There is no external space. There is however rights of access to the side of the property.

Investment/Tenancy Information: Currently let under counterpart lease dated 16th July 2020, for a 5-Year term, to a private individual trading as ‘Myrobalan Clinic’ a registered medical herbalist. Rent £7,500pa. Tenant is to keep the whole of the Premises in a good and substantial state of repair and condition. A copy of the lease is available following a viewing and at full discretion of the Vendor. The uppers have been sold off on a long-lease, pepper corn ground rent only – that long leasehold is not included within this sale.

Local Council: Somerset Council

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Rateable Value: £5,400 (Rateable Value).

Services: We understand that the property benefits from connection to mains electric, water and drainage. Electric plug-in heaters.

Tenure: Freehold, subject to occupational lease.

EPC Rating: D/78. Copy available upon request.

VAT: We understand the property is not elected for VAT.

Solicitors / Legal Pack: Peter North of HK Law, Crewkerne

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A Legal Pack will be available via the auction platform prior to auction.

Viewing: Strictly by appointment only through the sole agents Cooper and Tanner 1908 Ltd. Advance notice will be required so that appropriate notice can be given to the occupier.

Completion: Completion has been set for 17th December 2024 or earlier by prior arrangement.

Registering to Bid and Administration Fee: Cooper and Tanner requires all bidders who wish to bid at our Auction to register beforehand, whether you are intending on bidding in the room, by proxy or online. As part of the registration process, you will be asked to provide card details in order that the Buyer’s Administration Fee of £1,350 inc VAT can be paid if you are successful. A week before the auction a hold will be placed on your account for this sum, which will then be released if you are unsuccessful. This fee will only be taken if you are the successful buyer. The fee is retained by Cooper and Tanner and does not form part of your deposit or completion settlement. Please also be aware that the Buyer’s Administration fee is payable per lot purchased and applicable to all pre-auction sales. If you are successful in purchasing more than one lot, we will contact you following the auction to take subsequent payments for additional lots bought. All checks required by current anti-money laundering legislation must be satisfactorily completed, as part of the registration process before prior approval to bid will be granted; this will include providing proof of funds.

Deposit: Successful bidders will be required to pay to the Cooper and Tanner Client Account the deposit of 10% of the purchase price within 24 hours of the auction. The account details will be provided to the successful bidder on conclusion of the auction. Once funds are cleared, they will be transferred on to the account of the solicitor acting for the seller. Please ensure that funds are in an account suitable to be able to make an Electronic Transfer from.

Ref: V1/10/2024

Website tags: auction-property, february-auction