St. Mary Street, SOUTHAMPTON

SUMMARY
AUCTION SALE 15 October 2024 - > Mixed commercial/residential investment - circa 346 sqm > Commercial unit, studio flat & part converted
2 x 1 bed flats > Requiring finishing works – part let at £25,116 pa


DESCRIPTION
*** TO BE SOLD BY PUBLIC AUCTION ON 15TH OCTOBER 2024 AT THE GRAND CONNAUGHT ROOMS, 61 - 65 GREAT QUEEN STREET, LONDON, WC2B 5DA (Online bidding available) ***

Tenure
Freehold with Part Vacant Possession

Location
The property can be found at the northly end of St Mary Street, forming part of the terraced commercial parade and is ideally placed for trade and local amenities, together with access to Southampton City Centre and travel network connections.

Description
This substantial two/three storey mixed commercial and residential end of terrace property comprises of a ground floor retail unit (hot food/take away) and bakery on the ground and first floors, together with the separate residential element comprising of a studio apartment and part converted two x one bedroom flats (one of which currently operates as a studio apartment). The property is currently let and offers conversion potentials (STPP), making it an ideal investment purchase.

Accommodation
Ground Floor Front (Shop): Retail Area, Inner Hallway, Kitchen (side access door), Store Room with walk in fridge unit, WC, Bakery Room with Stairs to First Floor.
First Floor: Landing, Inner Hallway, Store Room, Office, Bakery Two.
Ground Floor Side Access (Ascupart Road): Entrance Hallway with Stairs to First Floor.
First Floor: Landing with Stairs to Second Floor, Room One & Two (part completed one bedroom flat).
Front Studio Flat: Entrance Hallway, Kitchen, Studio Room, Ensuite Shower Room/WC.
Second Floor: Landing, Room One & Room Two with Ensuite Shower Room/WC (part completed one bedroom flat).

Tenancy Details
The property is part let at the following rents: Commercial unit £15,600 pa, Front Studio Flat £4,320 pa and Second Floor Studio £5,196 pa. Buyers are advised to satisfy all enquiries regarding the status of the tenancies prior to bidding.

EPC
Commercial – C. Residential - E

Council Tax Band A

Important Notice:
For each Lot, a contract documentation fee of £1,500 (inclusive of VAT) is payable to Fox & Sons/Barnard Marcus Auctions by the buyer. The seller may charge additional fees payable upon completion. If applicable, such fees are detailed within the Special Conditions of Sale. Buyers are deemed to bid in full knowledge of this.

The Guide Price quoted must not be relied upon by prospective purchasers as a valuation or assessment of value of the property. It is intended to provide purchasers with an indication of the region at which the reserve may be set at the time of going to press. The guide price may be subject to variation and interested parties are advised to make regular checks for variations and should be aware that the reserve price may be either below or above the quoted guide price.

Prospective purchasers should also be aware that the eventual sale price may be above or below the guide level dependent upon competition, and should therefore not presume the guide to be indicative of the final expected sale price or the price the property is available at.

When setting the guide price, the auctioneers have given consideration to the seller’s instructions in respect of their indicated reserve price at the time of instruction. The reserve price, (the level below which the property will not be sold), remains confidential between the seller and the auctioneer. The guide price therefore, is intended to indicate the region at which the reserve price is intended to be set. The seller will confirm their final reserve price close to the auction date and if appropriate the auctioneers may adjust the guide price to reflect this.

Whilst Fox & Sons make every effort to ensure the safety and security of viewers at properties, we have not carried out a detailed Health & Safety inspection of properties in our auctions and cannot therefore guarantee the safety and security of viewers. Prospective purchasers and bidders attend properties entirely at their own risk. Particular care should be taken when accessing cellars, attics, exterior grounds and outbuildings and boundaries. All non-conducted inspections of vacant sites should be made in daylight hours only and entry into such sites is entirely at the viewers risk.



1. MONEY LAUNDERING REGULATIONS: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
2. General: While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.
3. Photographs and Measurements: Some images may have been taken by a wide angled lens camera. These approximate room sizes are only intended as general guidance. You must verify the dimensions carefully before ordering carpets or any built-in furniture.
4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.
5. THESE PARTICULARS ARE ISSUED IN GOOD FAITH BUT DO NOT CONSTITUTE REPRESENTATIONS OF FACT OR FORM PART OF ANY OFFER OR CONTRACT. THE MATTERS REFERRED TO IN THESE PARTICULARS SHOULD BE INDEPENDENTLY VERIFIED BY PROSPECTIVE BUYERS OR TENANTS. NEITHER SEQUENCE (UK) LIMITED NOR ANY OF ITS EMPLOYEES OR AGENTS HAS ANY AUTHORITY TO MAKE OR GIVE ANY REPRESENTATION OR WARRANTY WHATEVER IN RELATION TO THIS PROPERTY.