Unit 4, London Road, Baldock, Hertfordshire SG7 6NG
- PROPERTY TYPE
Commercial Property
- SIZE
Ask agent
Key features
- 6 self contained units generating a gross rental income of £34,464 per annum.
- renewing the leases on sections 3,4 and 5. If completed before the auction then the rental income will rise to £41,744 Gross PA
- Located on London Rd Indutrial Estate In Baldock
- Great long term investment
- Guide price: £350,000 - £400,000
- For sale by online livestream auction
- Unless previously sold or withdrawn prior
- 11:00am - Wednesday, 24th July 2024
Description
FOR SALE BY LIVESTREAM ONLINE AUCTION - 11:00AM, WEDNESDAY 24 JULY 2024
TO REGISTER FOR LEGAL PACK AND BIDDING INSTRUCTIONS PLEASE VISIT OUR WEBSITE
Six self contained units generating a gross rental income of £34,464 per annum
Located on the London Road Industrial Estate on the southern side of this historic market town with good road access to the A1m both North and South.
About 6,064 Sq. Ft. Gross Internal Area divided into six self-contained units (referred to as sections of unit 4) which are let on commercial leases generating a gross rental income of £34,464 per annum with sections 3,4,5,6,7 being let separately on individual leases and sections 8 & 9 let together on the same lease. To the side of the building is parking for each section. Please note sections 1 and 2 of the unit (to the rear) have been sold separately.
The current vendor is in the process of renewing the leases on sections 3,4 and 5. If completed before the auction then the rental income will rise to £41,744 Gross PA
If it is not completed by auction day then there is potential for the new owner to conclude the lease renewals as per the redacted HoTs included in the legal pack.
In the main most of the units are self-contained with kitchen and toilet facilities. Each unit is rated separately for Business rates.
Development: Subject to obtaining all relevant permissions, and whilst no formal investigation
has been undertaken the unit sits on a development with some multi storey
buildings and as such it is our opinion there is potential for the addition of either
1 or 2 more floors.
Ground Floor Six self contained units
Further Information EPC Ratings
Sections 3,4 & 5 rated E until June 2031
Section 6 rated E until October 2029
Section 7 rated D until June 2031
Sections 8 & 9 rated E until February 2029
Business Rates
Section 3 £6,600
Section 4 £6,200
Section 5 £4,150
Section 6 £2,600
Section 7 £2,275
Sections 8 & 9 £4,400
Tenure: Freehold
Administration Fee: 0.3% inc VAT of the purchase price, subject to a minimum of £1200 inc VAT, payable on exchange of contracts.
Buyer's Premium Fee: 1.2% inc VAT of the purchase price, payable on exchange of contracts.
Disbursements: Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.
Unit 4, London Road, Baldock, Hertfordshire SG7 6NG
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Baldock Station0.7 miles
- Letchworth Station1.8 miles
- Hitchin Station3.9 miles
About the agent
Auction House, Covering East Anglia
The Barn Newmarket Road Cringleford Norwich NR4 6UE
Market position
Auction House East Anglia are firmly established as East Anglia's no.1 property auctioneers (based on lots sold) and we sell over 80% of lot entries in our local auctions. We hold regular auctions in Norfolk and Suffolk and Cambridgeshire and have offices in Norwich, Kings Lynn, Peterborough and Ipswich.
Trusted BrandAuction House East Anglia is part of the Auction House UK group of
Industry affiliations
Notes
Disclaimer - Property reference 202406271703sq_9blt. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Auction House, Covering East Anglia. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.
Auction Fees: The purchase of this property may include associated fees not listed here, as it is to be sold via auction. To find out more about the fees associated with this property please call Auction House, Covering East Anglia on 01603 361653.
*Guide Price: An indication of a seller's minimum expectation at auction and given as a “Guide Price” or a range of “Guide Prices”. This is not necessarily the figure a property will sell for and is subject to change prior to the auction.
Reserve Price: Each auction property will be subject to a “Reserve Price” below which the property cannot be sold at auction. Normally the “Reserve Price” will be set within the range of “Guide Prices” or no more than 10% above a single “Guide Price.”
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