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Lot 18

Freehold Shop & Flat Investment – Gross Yield 10%
In the same family ownership for over 25 years
6 week completion

SITUATION

Located close to the corner of Woodlands Avenue just off the main A6003 amongst a host of local traders serving the surrounding residential area, only 1 mile north of Corby town centre and Corby Railway Station (EMR Line).
Corby is located approx. 18 miles west of Peterborough and 18 miles north-east of Northampton.

PROPERTY

A semi-detached building comprising a Ground Floor Shop with internal access and separate side access (see Note 1) to a Self-Contained Flat on the first floor with uPVC double glazing.
There is a Garage/Store to the side plus off-street Parking for 2 cars.
In addition, there is a Large Rear Garden allowing scope for an extension similar to the adjoining property.

VAT is NOT applicable to this Lot

FREEHOLD

ACCOMMODATION

Ground Floor Shop
Gross Frontage	25'1"
Internal Width	22'5"
narrowing at rear to	9'7"
Shop & Built Depth	25'11"
Rear Store Area	Approx. 45 sq ft
WC
First Floor Flat
2 Bedrooms, Living Room, Kitchen, Shower Room/WC
GIA	Approx. 535 sq ft
Garage/Store
Area	Approx. 220 sq ft

Plus Rear Garden

TENANCY

The entire property is let on a full repairing and insuring lease to S. Kandavanam as a Convenience Store & Off-Licence for a term of 10 years from 20th March 2017 at a current rent of £12,000 per annum exclusive.

Note 1: The separate side access leads to a communal hallway that also links the Shop with its Rear Store.

Note 2: There is a Rent Deposit of £12,000 being held.

Note 3: We understand that the flat is occupied by the tenant.

*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.

115 Rockingham Road, Corby, Northamptonshire NN17 1JW