Indigo Alley, 4 North Marine Road, Scarborough, North Yorkshire, YO12 7PD
Mixed use investment opportunity in Scarborough
Thursday 30th March 2023 @ 09:00AM
Please note that the tenancy details within the catalogue are incorrect. We are informed the that the bar is let on a lease at £250 per week plus £150 per week towards utilities- £20,800 per annum, however we are informed that the current tenant has given notice and will vacate on or before 10th April 2023 and the first and second floors comprise let to four lodgers- Two at £90 per week and one at £70 per week and two rooms let to one individual at £120 per week - £19,240 per annum. Full details will be available within the legal pack - updated 09.03.2023 @ 12:05.
A Freehold Double Fronted Mid Terraced Mixed Commercial and Residential Investment Property Current Gross Rental Income £19,240 PA With Scope To Improve
Property DescriptionA freehold mid terraced property sitting flush to the pavement in a town centre location close to the beach with bar to the ground floor and separate residential accommodation above.
AccommodationGround Floor: Public Bar Area, Seating Area with Log Burner, Open Area For Live Music, Access to Large Cellar having delivery hatch to pavement level, Galley Kitchen, Male and Female Toilets and Smoking Yard to the rear.
First Floor: Letting Rooms: Landing, Two Bedrooms, Access to Second Floor, Two Bedrooms, Bathroom.
Landlords Apartment: Lounge, Kitchen, Shower Room/WC, Additional WC, Bedroom, Stairs to Second Floor with Three Bedrooms.
Outside: Rear Yard.
Energy Performance RatingSee legal pack.
TenureFreehold – Subject to the existing tenancies.
Tenancy DetailsGround Floor: The bar is let on a lease at £250 per week plus £150 per week towards utilities- £20,800 per annum, however we are informed that the current tenant has given notice and will vacate on or before 10th April 2023.
First and Second Floors: Currently let to four lodgers- Two at £90 per week and one at £70 per week and two rooms let to one individual at £120 per week - £19,240 per annum.
Full details will be available within the legal pack.
Auctioneer's NoteAt the time of going to print, the Auctioneers were unable to inspect the property internally and therefore the accommodation details should not be relied upon.
Any future owner if not residing in the property will need to arrange the appropriate tenancy agreements with the lodgers occupying the property.
Please note offers may be considered prior to the Auction Sale.
Remote Bidding AuctionThis 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.
ViewingsStrictly by appointment with the Auctioneers.
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.
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.