112 High Street, Selsey, Chichester, West Sussex, PO20 0QG

Ground floor retail investment in Chichester

Guide price*

£100,000+

Plus fees

Withdrawn

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Lot 117 Commercial Investment
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Auction details:

Thursday 27th October 2022 @ 09:30AM

Live-streamed Auction

A Modern Long Leasehold (110 Years Unexpired) Ground Floor Retail Investment, Let To A Well Established Tenant, Within A High Street Location In The Popular Seaside Town Of Selsey Current Rental Income £12,000 PA

Property Description

The property comprises a ground floor end of terrace retail unit with ancillaries, standing within a modern parade of similar properties. The property is well presented and has been occupied by a well established tenant for approximately 15 years trading as The Selsey Florist. We have not undertaken an inspection of the premises and all interested parties should seek their own verification of the accommodation.

Accommodation

The property occupies a prominent position fronting the western side of the B2145 High Street, within the heart of Selsey town centre where there is a good mix of local and national retailers, pubs, restaurants and coffee shops. East and West Beaches are both within close proximity. Selsey is a popular seaside town situated approximately 8 miles south of Chichester in West Sussex.

Energy Performance Rating

C

Tenure

The property is long leasehold for a term of 125 years with effect from 1st June 2007 at a peppercorn rent. There are approximately 110 years unexpired.
The property is let to a well established tenant trading as the Selsey Florist, and they have been in occupation for approximately 15 years. The current lease is for a term of 10 years with effect from the 16th June 2019 at a rental of £12,000 per annum with 3 yearly rent reviews. Copies of the head lease and occupational lease will be available for inspection within the legal pack.

Value Added Tax

For clarification in respect of whether or not VAT will be chargeable on the purchase price please refer to 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

Strictly by appointment with the Auctioneers.
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.

LIVE-STREAMED AUCTION

Please note that the Auction will be livestreamed via our website.  You can take part remotely via Proxy, Telephone or Online, if you wish to bid you must pre-register via our website no later than 3pm the day 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 £1,680 inc VAT (£1,400.00 + 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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