Land & Buildings Adjacent to, Hillmorton Wharf, Crick Road, Hillmorton, Rugby, CV21 4PW
Land & Buildings in Hillmorton, Rugby
Sold for £110,000
Wednesday 23rd October 2019 @ 10:30AM
Holte Suite, Aston Villa FC, Trinity Rd, Birmingham B6 6HE
Freehold Buildings & Land, together with Two Wet Docks and a Pub Beer Garden Investment
Property DescriptionThe property comprises of land and buildings alongside the Oxford Canal. The north of the site comprises the beer garden of the Waterside Pub and Carvery, formerly The Old Royal Oak, which is let to Greene King. This area comprises an area of surfaced land to the canalside elevation of the pub to the north, the southern section comprises a grassed beer garden including a small children's play area. The south of the site comprises a small boat yard with two buildings and two bay wet dock with workshop space and a separate office/storage building. The buildings are single storey and of prefabricated concrete construction. There are a number of moorings alongside the site. These do not form part of the sale and will be retained by the Vendor, however the purchaser will be liable to enter into a Mooring Agreement together with a Connection Agreement for the wet docks. Full details will be included within the legal pack.
LocationThe property is located in Hillmorton, approximately 3 miles south east of Rugby. The Oxford Canal runs to the west of the site and the Waterside Pub and Carvery is situated next to the Wharf.
Hillmorton is a suburb of Rugby and is predominately residential in nature. The site is easily accessible with the M1 motorway approximately 1 mile distant.
Energy Performance RatingSee legal pack.
TenureThe property is Freehold and vacant possession will be given upon completion of the buildings, yard and wet docks.
The beer garden is let to Greene King by way of a Lease, which expired on 20th December 2017, at a current rent of £8,750 per annum.
We understand that Greene King have served a Section 26 Notice (now expired), requesting a new 15 year Lease directly to the Canal & River Trust.
Further details of this, together with details of access and services will be available for inspection within the legal pack.
Value Added TaxVAT will be chargeable on this transaction.
Auctioneers NotePlease note no offers will be considered prior to the Auction Sale.
ViewingsExternal viewings only.
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.