Commercial Property for auction in Sheffield

Description

A portfolio of Leasehold ground rents secured to 43 houses built by North Homes in the late 1990s and located to the east of Sheffield . The properties are held on 125 years ground leases from the 27th March 1997 with 31 of the ground rents at £75pa and 12 at £50 pa, giving an overall gross income of £2,825pa. The Freehold is with Sheffield City Council and an annual ground rent of £1,000 is paid, giving an net annual income of £1,825pa.

Tenure

Leasehold

Occupancy

Subject to a lease

Costs

Auction Details

The sale of this property will take place on the stated date by way of Multi lot timed auction and is being sold under the Unconditional sale type.

Binding contracts will be exchanged at the point of sale.

All sales are subject to our Common Auction Conditions and Bidder Terms. Properties located in Scotland and Northern Ireland will be subject to applicable local laws.

Auction Deposit and Fees

The following deposits and non- refundable auctioneers fees apply:

• 10% deposit (subject to a minimum of £5,000)

• Fixed Buyer’s Fee of £900 inc vat.

There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.

Additional Information

For full details about our auction processes, please refer to the Bidder Terms which can be viewed on our home page.

This explains the types of auction and sale methods we offer, the bidding registration process, your payment obligations, and how to view the Legal Pack (and any applicable home report for residential Scottish properties).

Guide Price & Reserve Price

Each property sold is subject to a Reserve Price. The Reserve Price will be within + or - 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.