Online Auction 14th February 2023Tenanted Ground Floor Retail Unit Understood to be Let at £10,400 pa - Plus Freehold Of First Floor (sold off on long lease)The property is to be sold as Auction without Possession, as such, we have not entered or inspected the property and no viewings can be undertaken. Please note the business is not included in the sale. We have been advised of the following potential issues: • There are anticipated issues with the roof, as a result of which, it may require repair or replacement • The property does not have an electrical safety certificate due to water seepage from the roof onto the electrical wiring • The freeholder has indicated that they may serve a Section 146 Notice, due to the alleged disrepair. From information provided the property briefly comprises a ground floor convenience shop (held long leasehold for the residue of a 999 year lease from 1995) plus the freehold of the first floor flat subject to a 999 year lease. Tenancy The shop (t/as JCR Convenience Stores / Go Local) is subject to a lease dated 21st December 2018 for a period of 10 years. The lease contains an option for the lessee to renew for a further 10 years. Rent: £10,400 per annum subject to review. It is not known if the tenants are in occupation. The under lease provides for VAT to be charged on the rent payable which suggests that an option to tax may be in place. Accommodation Not inspected however the VOA have the NIA floor area of 83.7m2 Tenure We are informed as follows: - 41 Stamfordham Road (the shop) is Leasehold (Title number TY321214 Leasehold 999 years from 1995). Only the ground floor is included. The freeholder to the ground floor is also the registered proprietor of the leasehold title to the upper flat which is occupied on a 999 year lease. The freehold title of the flat above is included in the sale of the shop’s long leasehold (Title number TY321217) The freehold is subject to a 990 year lease. Lo

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Administration Charge - Nil

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