Red Lion, Ramsgate, Stockton-On-Tees TS18 1BS

For sale on 23 October 2024
The National Property Auction will be broadcast live on our website and open to remote bidding online, on the phone and by proxy. Registration for bidding will close at 5pm the day before the auction.
The auction will commence at 09:00.

A freehold public house with residential accommodation to the first floor, located in the town centre of Stockton-on-Tees and sold with vacant possession. This corner-terrace property is arranged over three storeys, plus basement, and extends to approximately 283 sq m (3,053 sq ft). It briefly comprises a large, open-plan trading area with 4-sided bar with seating for 70 people, along with a pool area, kitchenette, and customer toilets. A hatch provides access to a beer store basement. To the first and second floor is private residential accommodation with separate access to the rear and offering three bedrooms with living space.

Location: The Red Lion is located on a popular narrow street that links the High Street 50m to the East with W Row and the A1065 50m to the West. This is a Town centre location surrounded by a selection of retail outlets, offices, public car parks and a number of other licensed properties including The Ramsgate and The Reindeer.
Basement: Beer store.
Ground Floor: Small entrance lobby, open plan room with central bar servery, pool area, kitchenette, customer toilets.
First Floor: Private living accommodation comprising 3 bedrooms, kitchen, sitting room, bathroom, toilet, office. Features separate access to the rear.
Second Floor: Additional room.
Rateable Value: £10,500.
Note: The Fixtures and Fittings that remain on the premises at the time of completion will be included in the sale. Any third party owned items, such as beer raising and cellar cooling equipment, branded items, gaming machines etc, will be excluded. An inventory will not be provided. The vendors will not be required to remove any such items that remain on the premises. A premises licence prevails. Details can be found in the legal pack.
Note: SDL Property Auctions has not personally inspected the property and has solely relied on information from our joint agent. Buyers must conduct prudent due diligence on the property.

Tenure: Freehold

EPC Rating: C

Terms:
Auction Details:

The sale of this property will take place on the stated date by way of Auction Event and is being sold under and Unconditional sale type.

Binding contracts of sale will be exchanged at the point of sale.

All sales are subject to SDL Property Auctions Buyers Terms. Properties located in Scotland will be subject to applicable Scottish law.

Auction Deposit and Fees:

The following deposits and non- refundable auctioneers fee apply:

• 10% deposit (subject to a minimum of £5,000)

• Buyers Fee of 1.8% of the purchase price inc. VAT (subject to a minimum of £2,400 inc. VAT)

The Buyers Fee does not contribute to the purchase price, however it will be taken into account when calculating the Stamp Duty Land Tax for the property (known as Land and Buildings Transaction Tax for properties located in Scotland), because it forms part of the chargeable consideration for the property.

There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.

Additional Information:

For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions home page.

This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack (and any applicable Home Report for residential Scottish properties).

Guide Price & Reserve Price:

Each property sold is subject to a Reserve Price. The Reserve Price will be within + or - 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.