2 & 2A Church Street, Gainsborough, Lincolnshire, DN21 2JH

A Freehold Town Centre Investment Opportunity in Gainsborough, Lincs.

Guide price*

£125,000+

Plus fees

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Lot 143 Commercial Investment
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Auction details:

Wednesday 8th December 2021 @ 09:00AM

Livestreamed Auction

A Freehold Town Centre Investment Opportunity, comprising of Two Retail Units and Upper Floors Suitable for a variety of uses. Current Gross Income: £7,800 pa.

Property Description

The property comprises of two ground floor retail units with the upper floors over unit 2a. Unit 2 is tenanted and extends approximately 732 sq.ft (68.00 sq.m.). Unit 2a comprises of a ground floor retail area with storage on the first and second floors, extending to approximately 1,322 sq.ft. (122.81 sq.m.).

Location

The property occupies a prominent position fronting Church Street at its junction with Market Street and Lord Street in the heart of Gainsborough Town Centre. Gainsborough lies approximately 18 miles north west of Lincoln, 15 miles south west of Scunthorpe and 35 miles east of Sheffield. It has a population of approximately 20,842 (2011 census).

Energy Performance Rating

See legal pack.

Tenure

Freehold – Subject to the existing tenancy of No. 2a and vacant possession will be given upon completion for No. 2.

Tenancy Details

Unit 2: Let at present to Wright Mobility, at a rental figure of £550 per calendar month - £6,600 per annum, however vacant possession will be given upon completion.
Unit 2a: Let to Phone Guys, at a rental figure of £650 per calendar month - £7,800 per annum.Total Gross Income: £7,800 per annum
The tenancy agreement will be available within the legal pack.

Auctioneer's Note

Please note offers may be considered prior to the Auction Sale.

Remote Bidding Auction

This property is being offered via a remote bidding auction with bidding by proxy, telephone or internet only. You will need to pre-register for remote bidding, provide your identification and debit card details no later than 24 hours prior to the auction, please visit our website for further details.

Viewings

External viewings only.
DISCLAIMER

Bond Wolfe or their Agents for the seller of these Lots give notification that any particulars contained within the catalogue/website are prepared to the best of their knowledge and all potential buyers should make their own enquiries and investigations to the accuracy of the information contained in these particulars. Any amendments to the particulars that Bond Wolfe are aware of will be published on the addendum, which is available within the lot information.

REMOTE BIDDING AUCTION

Please note that the Auction will be livestreamed via our website with Remote Bidding by Proxy, Telephone or Internet Only.  You must pre-register to bid for each auction no later than 24 hours prior to the auction.  Please click here for further details.

*DEFINITION OF GUIDE & RESERVE PRICE

All properties are sold subject to a reserve price, which is the minimum price the seller is willing to accept and is confidential between the seller and Auctioneer. The guide price is only an indication as to where the reserve is currently set and not necessarily the Auctioneers expectation of what it will sell for. If the guide price is a bracket figure, then the reserve price cannot be higher than the top end of the guide price, if the guide price is a fixed figure, then the reserve cannot be more than 10% above the guide price. The guide price and reserve price can be subject to change at any time up to and including the auction day and, properties can often sell for substantially more than the quoted guide price.

COSTS AT AUCTION

When buying at auction you will unconditionally exchange contracts on the fall of the auctioneer’s gavel, please therefore ensure you have read the legal pack for each property prior to bidding.  They are all individual and include the terms and conditions of your purchase as well as any costs in addition to the purchase price.

The sale of each lot is subject to an administration fee of £1,440 inc VAT (£1,200.00 + VAT) (unless otherwise stated in the important information), payable on the fall of the gavel/at the end of the online auction.  Please note that the administration fee for
the Local Authority lots may differ and all interested parties should enquire directly with the Auctioneers as to the fee applicable.

Any additional costs excluding the administration fee will be listed in the Special Conditions within the legal pack and these costs will be payable on completion. The legal pack is available to download free of charge under the ‘lot information’.  Any stamp duty and/or government taxes are not included within the Special Conditions within the legal pack and all potential buyers must make their own investigations.

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