Commercial Property for Sale

• Commercial Development Opportunity
• For Sale By Modern Method of Auction - T & C`s Apply
• Buyers Fees Apply

• Potential ?5880.00 PA 14% Yield
• Subject to Reserve Price

Full Description

Pridea Sales & Lettings are pleased to present this Commercial Development Opportunity being offered for sale by the Modern Method of Auction. Located to the rear of Numbers 2-6 Sewells Walk, Lincoln, immediately to the rear of 416 High Street, Lincoln.

Offering a fantastic opportunity in the sought after southern side of the City Centre the site currently comprises of 1 garage and 7 lock-up units.
On the information provided, it is understood that the rental of the smaller units is ?60 pcm and the garage to be ?70 pcm - Potential to achieve ?5880.00 PA and a potential yield of 14%

The site previously had Full Planning Permission for the erection of a Single Storey Industrial Building. City of Lincoln Council Planning Application No: 2017/0502/FUL

Mains water, electricity, drainage and gas are understood to be available for connection but prospective purchasers should make their own enquiries of the relevant authorities.

Property Type: Industrial
Tenure: Freehold
Parking: Allocated

Being Sold via Secure Sale online bidding. Terms & Conditions apply.

Pattinson Auction are working in Partnership with the marketing agent on this online auction sale and are referred to below as `The Auctioneer`.

This auction lot is being sold either under conditional (Modern) or unconditional (Traditional) auction terms and overseen by the auctioneer in partnership with the marketing agent. The property is available to be viewed strictly by appointment only via the Marketing Agent or The Auctioneer. Bids can be made via the Marketing Agents or via The Auctioneers website.

Please be aware that any enquiry, bid or viewing of the subject property will require your details being shared between both any marketing agent and The Auctioneer in order that all matters can be dealt with effectively.

The property is being sold via a transparent online auction.

In order to submit a bid upon any property being marketed by The Auctioneer, all bidders/buyers will be required to adhere to a verification of identity process in accordance with Anti Money Laundering procedures. Bids can be submitted at any time and from anywhere.

Our verification process is in place to ensure that AML procedure are carried out in accordance with the law.

A Legal Pack associated with this particular property is available to view upon request and contains details relevant to the legal documentation enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers` obligations and sellers` commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase. Auctioneers Additional Comments

In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit equivalent to 5% of the purchase price of the property. The deposit will be a contribution to the purchase price. A non-refundable reservation fee of up to 6% inc VAT (subject to a minimum of 6,000 inc VAT) is also required to be paid upon agreement of sale. The Reservation Fee is in addition to the agreed purchase price and consideration should be made by the purchaser in relation to any Stamp Duty Land Tax liability associated with overall purchase costs. Both the Marketing Agent and The Auctioneer may believe necessary or beneficial to the customer to pass their details to third party service suppliers, from which a referral fee may be obtained. There is no requirement or indeed obligation to use these recommended suppliers or services.




Notice
Please note we have not tested any apparatus, fixtures, fittings, or services. Interested parties must undertake their own investigation into the working order of these items. All measurements are approximate and photographs provided for guidance only.

Council Tax
Lincoln City Council, Band A

Utilities
Electric: Unknown
Gas: Unknown
Water: Unknown
Sewerage: Unknown
Broadband: Unknown
Telephone: Unknown

Other Items
Heating: Not Specified
Garden/Outside Space: No
Parking: No
Garage: No

 FULL DETAILS