Restuarant Premise (1.8 acres or thereabouts) Newark Road (A17), North Rauceby, Sleaford, Lincolnshire, NG34

Modern Method of Auction - T & Cs Apply

Roadside former restaurant premises FOR SALE with frontage directly onto the A17. The property is situated in a site area extending to approximately 1.8 acres with a hardstanding for parking and a grassed paddock to the rear. The property has most recently been used as a restaurant but is thought to suit a variety of uses including the potential to redevelop subject to obtaining the necessary consents. The property will be sold with vacant possession.

BUYING CONDITIONS

This property is for sale by the Modern Method of Auction. Should you view, offer, or bid on the property, your information will be shared with the Auctioneer, Iamsold. This method of auction requires both parties to complete the transaction within 56 days of the draft contract for sale being received by the buyer's solicitor. This additional time allows buyers to proceed with mortgage finance (subject to lending criteria, affordability, and survey). The buyer is required to sign a reservation agreement and make payment of a non-refundable Reservation Fee. This being 4.5% of the purchase price including VAT, subject to a minimum of £6,600.00 including VAT. The Reservation Fee is paid in addition to purchase price and will be considered as part of the chargeable consideration for the property in the calculation for stamp duty liability.

BUYERS INFORMATION PACK

Buyers will be required to go through an identification verification process with iamsold and provide proof of how the purchase would be funded. This property has a Buyer Information Pack which is a collection of documents in relation to the property. The documents may not tell you everything you need to know about the property, so you are required to complete your own due diligence before bidding. A sample copy of the Reservation Agreement and terms and conditions are also contained within this pack. The buyer will also make payment of £300.00 including VAT towards the preparation cost of the pack, where it has been provided by iamsold. The property is subject to an undisclosed Reserve Price with both the Reserve Price and Starting Bid being subject to change.

LOCATION

The Property is located with frontage directly onto a busy stretch of the A17 between Sleaford (2 miles East) and Newark (16 miles West) and is positioned between a workshop and cafe, both currently trading. At Sleaford, the A17 links with the A15 and at Newark, the A46 and A1 main road transport links.

ACCOMMODATION

The Property comprises a detached former restaurant premises situated in a site area that extends to approximately 1.8 acres in total. Internally, the accommodation benefits from a bar/seating area, a commercial kitchen/stores and staff/customer facilities and externally, a hardstanding car parking area together with a separate grassed paddock to the rear. Access to the property is directly off a gated entrance off the A17.

SERVICES

Mains water and drainage are connected to the Property. We are awaiting confirmation as to the availability of mains drainage. None of the services or service installations have been tested by the acting agents.

TENURE

The freehold will be sold via the Modern Method of Auction with Vacant Possession.

RATEABLE VALUE

We understand from the Valuation Office Agency's website, that the Property has a Rateable Value of £12,000. A link to the valuation is below for ease of reference:

CEPC

The property has a EPC rating of C (66). A link to the certificate is below:

VAT

We understand that VAT will not be charged on the sale price.

LOCAL AUTHORITY

The local authority is North Kesteven District Council.

VIEWING

Strictly by appointment via the selling agents Pygott and Crone.