93 King William Street, Coventry, CV1 5NQ
Commercial Investment with Development Potential in Coventry
A Freehold Commercial Investment Property/Redevelopment Opportunity Current Gross Income: £65,000 pa.
Property DescriptionA city centre commercial investment, with the potential for residential redevelopment, situated in the centre of Coventry within a predominantly retail area.
AccommodationGround Floor: Convenience Store with separate Kitchen, Male and Female WCs and Stores to rear.
First Floor: A 70 cover Sushi Bar with Kitchen, Male and Female WCs.
Second Floor: Open Plan Area.
Outside: Large Rear Parking facility and loading area.
Energy Performance RatingE.
TenureFreehold – Subject to a single Lease.
Tenancy DetailsThe property is subject to a Lease for 20 years from 3rd July 2018, at a rental of £65,000 per annum. A copy of the Lease will be available within the legal pack.
Auctioneers NotePlease note the Auctioneers have not had the opportunity to inspect the property internally and therefore the accommodation details should not be relied upon.
ViewingsStrictly by appointment with the Auctioneers.
|Total Floor Area (approx.):||1161.28||12,500|
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 £1,680 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.