Lot 2 - 115 Central Square Whittlesey Road, Peterborough, Cambridgeshire, PE2 8RH
- Unconditional Online Auction Sale
- Guide Price* : £300,000 - £350,000*† plus fees
- Bedrooms: 0
Commercial Investment
Description
Single storey detached commercial premises with extensive forecourt/parking, which have been let to, and traded by, Sue Ryder for their fundraising shop and cafe since 2014 and previously let to the Co-op. The tenant has entered into a new 6 year lease from 16th February 2022. The property produces a rent of £27,000 pax which rises to £28,500 pax on 16th February 2025. The tenant has an option to break on that date subject to giving 6 months prior written notice. The lease is drawn on tenant full repairing terms, qualified by a Schedule of Conditions of the property (prior to the tenant’s original occupation) but Sue Ryder has subsequently carried out an extensive refit of the shop in recent years, as seen, which appears in good order throughout.
The property has the benefit of its own forecourt and if it became vacant would be considered suitable for wide range of trades and business in this busy neighbourhood centre, subject to obtaining any necessary consents or approvals.
Agent's Note: Until 16th November 2022, the rent reserved under the lease is £23,000 pa. The vendor will make the rent up to £27,000 pa for the period from the date of completion up to 16th November 2022.
Solicitor: Kenneth Bush (Attn Carla Goodyear), Evershed House, 23/25 King Street, King's Lynn, PE30 1DU. Tel. 01553 692737
Location
Situated close to a range of other shops and outlets, which include Tesco Express and Papa Johns pizzas and is located within a densely populated residential neighbourhood which lies south-west of Peterborough town centre.
Directions
Head away from Peterborough town centre along Frank Perkins Parkway and at the exit, where signposted Stanground/Yaxley, bear left and at the roundabout proceed straight over onto the B1092 Whittlesey Road. Continue for approximately 700 yards and the premises will be found on the right almost opposite the turning to Rosemary Gardens.
Energy Rating
D
Notes
Buyer Fees - Please note that the successful bidder will be required to pay an Administration Charge of £900 inclusive of VAT. This fee is due and payable from the winning bidder immediately after the timed auction ends. The successful bidder will additionally pay over to the auctioneer a deposit of 10% of the purchase price, subject to a minimum of £5,000, after the timed auction ends. All payments to be made by debit card payment or electronic bank transfer to the Brown&Co Client Account, the details of which will be provided by the auctioneer to the successful bidder shortly after the auction ends. Other fees may be payable on completion and will be detailed within the Special Conditions of Sale to be found within the published Auction Pack.
Ability to Buy: This property is being sold under Unconditional Auction Rules creating a legally binding contract at the conclusion of the timed auction. DO NOT bid unless you can complete the sale within 28 days, or on the terms specified within the Special Conditions of Sale.
Help and Assistance: If you have any questions or require any clarification as to the online auction process please contact the auctioneer prior to commencement of the bidding window as we will be unable to enter into any discussions once the auction has started.
Bidding Process: Prior to bidding the bidder will complete a Passport-to-Bid process, which requires registration, verification and agreement to Buyers Terms.
Following the Auction: Use 'Watch' button to follow the auction. If you register to Watch an auction you will receive email notifications of any bidding activity on the specific lot.
How It Works: Unconditional Timed Auction Online: This is a binding method of sale similar to a traditional public property auction. The only difference is the bidding takes place on line. The successful purchaser will be required to pay a 10% deposit (subject to a minimum payment of £5,000) on the fall of the virtual gavel and contracts will be exchanged. Bidding for properties online works in a similar fashion to eBay. You can place bids using your PC, tablet or mobile phone and the minimum amount you can bid is defined by the 'bid increment' level. When you place a bid, the property listing page will show you if your bid was successful and whether or not you are the highest bidder. When you are the highest bidder on a property, if another bidder outbids you the system will notify you by email so that you can place another bid if you wish. The major difference from eBay is that our system eradicates sudden death 'bid sniping' through the use of auction 'extension times'. If you have any questions or require any clarification please contact the auctioneer.
Agents Notes: (1) All measurements are approximate and quoted for general guidance only and whilst every attempt has been made to ensure accuracy, they must not be relied upon. (2) Any fixtures, fittings and appliances referred within these published details have not been tested and therefore no guarantee can be given that they are in working order. (3) Internal photographs are reproduced for general information and it is not inferred that any item shown within any picture is included with the property. (4) Photographs shown within these details may have been taken with a camera using a wide-angle lens. (5) These particulars do not form part of any offer or contract and must not be relied upon as statements or representations of fact. (6) In accordance with UK Anti Money Laundering Regulations Intending buyers will be asked to produce original Identity Documentation, Proof of Address and be subjected to an electronic ID verification check before a purchase conveyance is instructed. (7) Brown&Co comply with the General Data Protection Regulation (EU) 2016/679 (“GDPR”) please visit our website www.brown-co.com for our Privacy Statement, Subject Access Requests can be submitted to dataprotectionmanager@brown-co.com . (8) Brown&Co are regulated under the RICS code of conduct. (9) Brown&Co are a member of The Property Redress Scheme, Membership Number: PRS012758 https://www.theprs.co.uk/ (10) Brown&Co is a member of RICS Client Money Protection Scheme, RICS Firm Reference: 016189 (11) Brown&Co-Property And Business Consultants LLP trading as Brown&Co Registered Company Number OC302092. (11) Registered Office Address – The Atrium, St George's Street, Norwich, Norfolk, NR3 1AB
* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
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