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Lot 11

6 Week Completion

Situation

Occupying a prominent trading position within the main High Street close to the intersection with Regent Street and amongst such multiples as Boots Pharmacy, Lloyds Bank, Spar, Nationwide, Domino's and a host of local traders.
Shanklin is located on the A3055 and is one of the main seaside towns on the Isle of Wight which runs regular ferry services to Portsmouth.

Property

A mid terrace building comprising a Large Ground Floor Banking Hall with Ancillary Lower Ground Floor Accommodation plus separate front access to 4 Self-Contained Flats at first and second floor level and in addition 8 Garages at the rear.

VAT is NOT applicable to this Lot

FREEHOLD

Note 1: Barclays Bank have sublet the ground and lower ground floors to Bournhomes Ltd (with guarantor) until 14th April 2022 at a rent of £18,600 p.a. exclusive.

Note 2: There is potential to convert the rear ground and lower ground floors to residential, subject to planning.

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
b. A single price figure where the 'Reserve' is not to exceed it.
c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,500 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.

53 High Street, Shanklin, Isle of Wight PO37 6JJ