DDM PROPERTY AUCTION : For sale by Modern Method of Auction: Starting Bid Price £125,000 plus reservation fee.
DDM Residential are pleased to market via the modern method of auction a fantastic investment opportunity and is currently part let to multiple clients.
Located just off the bustling ?Freeman Street? Retail area. At this moment in time the lower floor is currently used as a gym being split into multiple rooms and benefits from a front office with kitchen area, changing room, W/C, having two stair cases to the first floor. The second floor is part let and includes a dance studio, kitchen, W/C, fitness suite, boxing area and further rooms currently empty.
This portfolio is now being sold due to our client?s personal commitments. Further details of rent currently achieved can be obtained from DDM Residential.
This property is for sale by DDM Property Auction powered by iam-sold Ltd.
AUCTIONEER'S COMMENTS This property is for sale by the Modern Method of Auction which is not to be confused with Traditional auction. The Modern Method of Auction is a flexible buyer friendly method of purchase. We do not require the purchaser to exchange contracts immediately, but grant 28 days to achieve exchange of contracts from the date the buyer's solicitor is in receipt of the draft contracts and a further 28 days thereafter to complete. Allowing the additional time to exchange on the property means interested parties can proceed with traditional residential finance. Upon close of a successful auction or if the vendor accepts an offer during the auction, the buyer will be required to put down a non-refundable Reservation Fee of 3.5% subject to a minimum of £5,000 plus VAT (£6,000 including VAT) which secures the transaction and takes the property off the market. The buyer will be required to sign an Acknowledgement of Reservation form to confirm acceptance of terms prior to solicitors being instructed. Copies of the Reservation form and all terms and conditions can be found in the Legal Pack which can be downloaded for free from the auction section of our website or requested from our Auction Department. Please note this property is subject to an undisclosed Reserve Price which is generally no more than 10% in excess of the Starting Bid. Both the Starting Bid and Reserve Price can be subject to change. Terms and conditions apply to the Modern Method of Auction, which is operated by DDM Property Auction powered by iam-sold Ltd.
TO VIEW OR MAKE A BID ? Contact DDM Residential on 01472 358671 or visit: www.northlincolnshirepropertyauction.co.uk
GYM GROUND FLOOR 21.672 x 14.703. With three uPVC windows to the front aspect, porch, office space, part raised floor, open staircase to the first floor and doors to changing area and second stair case. The gym area also benefits from two internalised rooms measuring 8.439 x 4.570 and 6.3274 x 5.252 one of which having fire escape leading to side passage.
OFFICE SPACE 3.587 x 2.074. With tiled floor, part tiled walls and kitchen area consisting of a range of base units with roll over work top with stainless steel sink/drainer.
CHANGING AREA 6.710 x 5.424. With open cubicles and tiled.
FIRST FLOOR First Floor leads to multiple rooms, 4 storage cupboards and fire escape.
ROOM ONE 15.284 x 5.264. Currently let Fitness area, currently fitted with a boxing ring and benefits from uPVC to the front aspect, small office space.
ROOM TWO Currently let Dance studio, measurements and internal description to be confirmed.
KITCEHN 2.217 x 2.371. With a range of white base units with roll over work top, stainless steel sink/drainer, part tiled, hand dryer and space for under counter fridge.
W/C 2.297 x 1.535. Consisting of a low flush WC, tiled walls and floor.
ROOM THREE Locked room, measurements and description to be confirmed.
ROOM FOUR Locked room, measurements and description to be confirmed.
ROOM FIVE 4.596 x 4.690. Currently let fitness suite Herbalife, having uPVC to the front aspect, tiled floor and kitchen area consisting of a range of white base units with rollover work top, stainless steel sink/drainer.
ROOM SIX 3.689 x 2.108. With tiled floor, pedestal hand wash basin and a range of white base units with roll over work top.
ROOM SEVERN 1.795 x 2.271.
ROOM EIGHT 2.324 x 1.734.
ROOM NINE 6.671 x 2.249.
NOTE The property previously has had planning permission for five flats on the second floor which has now lapsed. Prospective purchasers should seek their own confirmation.