Starting Bid: £40,000
Durban
STEP INSIDE
DDM PROPERTY AUCTION : For sale by Modern Method of Auction:
Starting Bid Price £40,000 plus reservation fee.
The mid terraced property comprises of a ground floor retail shop unit with large amount of storage to the rear and a self-contained onebedroom flat above with separate access to the rear of the property.
The retail accommodation provides excellent storage facilities and WC. Some modernisation and refurbishment are required. Potential rent on FRI lease of £4,800 per annum.
One bedroom flat currently let on Shorthold Tenancy Agreement at £3,900 per annum. Potential total rent of £8,700 per annum when fully let.
Accommodation
Ground Floor (Retail Unit)
Shop Area Approx – 16.2 sq. m (174 sq. ft)
Storage Area Approx – 12.0 sq. m (130 sq. ft)
Additional Store Area Approx – 8.8 sq. m (95 sq. ft)
Rear Store Area Approx – 12.9 sq. m (139 sq. ft) WC
First Floor Flat (Separate Access)
Living room, Kitchen, one bedroom and Bathroom. Rent £325 pcm. £3,900 per annum.
Rateable Value
We are verbally advised by East Lindsey Council that the Rateable Value is £3,600 under the current assessment. Interested parties are advised to confirm this with the Local Authority. Rateable Values can change and the rates payable can vary due to changes in transitional relief.
This property is for sale by the Modern Method of Auction, meaning the buyer and seller are to Complete within 56 days (the "Reservation Period").
Interested parties personal data will be shared with the Auctioneer (iamsold).
If considering buying with a mortgage, inspect and consider the property carefully with your lender before bidding.
A Buyer Information Pack is provided. The buyer will pay £349 (Inc. VAT) for this pack which you must view before bidding.
The buyer signs a Reservation Agreement and makes payment of a nonrefundable Reservation Fee of 4.50% of the purchase price including VAT, subject to a minimum of £6,600.00 including VAT. This is paid to reserve the property to the buyer during the Reservation Period and is paid in addition to the purchase price. This is considered within calculations for Stamp Duty Land Tax.
Services may be recommended by the Agent or Auctioneer in which they will receive payment from the service provider if the service is taken. Payment varies but will be no more than £450.00. These services are optional.
Agents notes: All measurements are approximate and for general guidance only and whilst every attempt has been made to ensure accuracy, they must not be relied on The fixtures, fittings and appliances referred to have not been tested and therefore no guarantee can be given that they are in working order. Internal photographs are reproduced for general information and it must not be inferred that any item shown is included with the property. For a free valuation, contact the numbers listed on the brochure.
