FOR SALE BY AUCTION on WEDNESDAY 24th MAY 2023 - Residential development opportunity (subject to planning consent). Potential to create five apartments in the heart of this popular coastal resort town. Guide Price £100,000 - £125,000

This substantial property comprises the three upper floors of a prominent building that fronts onto Newborough and has a return frontage onto North Street. The property has previously been used as offices and has its own access from North Street. It is considered that although it could continue to be used as offices, it does also lend itself to conversion to residential flats and indicative drawings have been prepared to show a scheme of five apartments (2 two-bedroom and 3 one-bedroom) although a formal application has not been made. Prospective purchasers should make their own enquiries with the local planning authority.

Tenure

Freehold

Location

The property is located in the heart of the main shopping district of this traditional east coast resort town.

Accommodation

First Floor – 1,033 sq ft. Predominantly open plan, currently vacant office use. Second Floor – 897 sq ft. Redundant office space/storage Third Floor – 652 sq ft. Previously forming storage areas

Agents Notes

The vendors may consider the sale of the whole building including the ground floor commercial investment unit that currently generates a gross income of £32,500 pa. Interested parties are invited to contact the auctioneers for more information

Services

We believe that all mains services have previously been connected to the building; however, some of these may have been subsequently disconnected and reinstatement might be subject to a connection charge.

Tenure

The upper floors are being offered with vacant possession under a new lease of 999 years. The ground floor of the building is not included in the sale.

Viewings

Strictly by appointment with the auctioneers on 0845 400 9900

Method of Sale

The property will be offered for sale by online auction with bidding commencing at 12 noon on Monday 22nd May 2023 and closing on Wednesday 24th May 2023 at 3.00pm. For further legal information relating to this lot please log on to auctionhouse.co.uk/hullandeastyorkshire.

Conditions of Sale

The property will be sold subject to conditions of sale, copies of which will be available for inspection at the auctioneer's offices, with the solicitors and on-line at www.auctionhouse.uk.net/hullandeastyorkshire prior to the date of the auction.

Guide Price

*Guides are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.

Online Bidding

If you are wanting to bid on this property, copy and paste the link below into your URL bar or into a Google search and it will take you to a video that explains the process: youtube.com/watch?v=ImXr4HXR36c

Services

Interested parties are invited to make their own enquiries to the relevant authorities as to the availability of the services.

Solicitors

Messrs Debenhams Ottaway, 48 Watling Street, Radlett, Herts, WD7 7NN , Tel: FAO: Kat McDonagh KHM@debenhamsottaway.co.uk

Offered in association with

Dee Atkinson and Harrison

Additional Fees

Administration Charge - The purchaser will be required to pay an administration charge of 0.3% of the purchase price subject to a minimum of £750 (£625 plus VAT) and a buyer's premium of £480 (£400 plus VAT) in addition to the purchase price of the property.

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.