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Lot 15 Click here for addendum

Commercial Investment – Gross Yield 15%
6 Week Completion

Situation

Located within The Parishes modern town centre pedestrianised retail scheme adjacent to an entrance to the Foundry Shopping Centre and amongst such multiples as Home Bargains, Vue Cinema, Iceland, Clarks and others
Scunthorpe lies some 30 miles south-west of Hull, 20 miles east of Doncaster and benefits from good road access via the A159 and M180 (Junctions 3 & 4).

Property

A Double Fronted Ground Floor Kiosk.

Accommodation

Double Fronted Ground Floor Kiosk
Gross Frontage	37'0''
Area	Approx. 206 sq ft¹

¹Not inspected by Barnett Ross. Area taken from VOA.

VAT is applicable to this Lot
(TOGC may apply if terms are fulfilled by the Buyer)

Tenure

Leasehold for a term of 999 years from 2nd June 2005 at a peppercorn ground rent.

Tenancy

The property is let on a lease to Keys Mobile Limited (with personal guarantor) (t/a Cobblers & Keys) for a term of 5 years from 29th September 2022 at a current rent of £12,000 per annum exclusive (see Notes 1 & 2).

Note 1: We understand that the tenant has been in occupation of the property since approx. 2008 and prior to this they were trading from Kiosk 1 in the same development.

Note 2: The tenant (Keys Mobile Limited) is to pay the relevant proportion of both the service (maintenance) charge and the building insurance premium - refer to the lease in the legal pack.

*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.

Kiosks 5-6 Jubilee Way, Scunthorpe, North Lincolnshire DN15 6RB