Call 0800 038 5996

Guide Price: £550,000.00

Traditional Auction

27 29 Waterloo Road , , Blyth , NE24 1BW

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AUCTION SOLD

Lot Number: 21098887

Property ID: 66698750

Whoobid Auctioneers

djacobs@whoobid.co.uk

01202 137200

Guide Price

£550,000.00

Method of Auction

Traditional

Property Type

Commercial

Number Of Beds

5+

Tenure

Freehold Property

Address

27-29 Waterloo Road

Key Features

• Commercial Unit Comprising Cafe/Restaurant
• 4 Offices
• 2 Top Floor Flats (Split To Be 12 Functioning Studios As HMO)
• HMO License Awaited
• Freehold Investment Opportunity
• ERV Total Of £94,000 Per Annum
• Buyers Fees Apply
• Pre Auction Offers May Be Considered
• Auction Pack Available On Request

Description

Imposing building in Blyth set up as an attractive investment opportunity. Ground floor commercial unit currently let at £800pcm - upper floors currently vacant. Office spaces expected to be let at £200pcm each and rental of the studios expected to be £120 per week each. ERV total of £94,000 per annum at full occupancy (license permitting) - potential gross yield of 17% based on the guide price.

This property is for sale via Online Auction. This is a modern twist on the traditional auction room sale where buyers can bid for the property via an online platform. The auction will run for 3 hours on a set date and time chosen by the vendor of the property. The winning bidder, assuming the reserve is met, is legally bound to exchange on the property and pay a 10% deposit similar to a traditional auction house sale and they will have 28 days to complete, please check the legal paperwork to confirm deposit amount. Upon completion of a successful auction the winning bidder will be required to pay a non-refundable reservation fee of 3% inclusive of VAT of the winning bid in addition to the purchase price subject to a minimum fee of £4,800 inclusive of VAT. The auction is powered and carried out by Whoobid and is subject to terms & conditions which will form part of the auction pack which will be available to download for free once produced by the vendors legal representatives. We strongly recommend that you review the legal documents prior to bidding and seek legal advice. PLEASE REMEMBER THAT THE RESERVATION FEES ARE PAYABLE IN ADDITION TO THE ASKING PRICE. Fees paid to the auctioneer may be considered as part of the chargeable consideration and may attract stamp duty liability. Bidders will be required to register in order to download the 'legal pack', if you choose to bid on the property you will be required to complete further identity checks for anti- money laundering purposes and provide card details before you are able to place a
bid. Properties may be sold prior to public auction if an offer is accepted by the vendors.

**Guide price - This is an indication of the seller's minimum expectations at auction and is not necessarily the figure the property will achieve but acts as a guide, prices are subject to change prior to the auction.

**Reserve price - Most auctions will be subject to a reserve price, if this figure is not achieved during the auction then the property will not be sold. In normal circumstances the reserve price should be no more than 10% above the guide price.

Property Brochure

Download Link:  Must be logged in!

Property Auction Pack

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EPC

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Floor Plan

Download Link:  Must be logged in!

**These particulars are produced by the advertising agent and not
verified by Whoobid, they are believed to be correct but their accuracy
cannot be guaranteed and they do not constitute an offer or form part of
any contract.**

Map Location

Property Location

Address: NE24 1BW

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Agent's Information

Name: Whoobid Auctioneers

Address: LONDON, Dorset, EC1V 2NX

Telephone Number: 01202 137200

Email: djacobs@whoobid.co.uk

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