Lot 40 – 100-106 Roman Bank, Skegness, PE25 2SP

Property Enquiries

Oliver Childs

oliver.childs@bidx1.com
020 3929 8289

Viewing Registration / Enquiries

BidX1 Support Team

info@uk.bidx1.com
+44 (0) 20 7703 4401

Vendor Solicitor

Mr D. Robertson

doug.robertson@irwinmitchell.com
0113 234 3333
Description
Map
Viewings

Property Summary
  • Freehold retail/residential investment
  • Three shops (one double unit)
  • Six flats - five self-contained flats (1 x 2 bed and 4 x 3 bed)
  • One flat (No. 2A) included within demise of double shop unit Nos.104-106
  • Part vacant
  • Producing £18,600 per annum (ERV £45,000 per annum) - see note
Tenure

Freehold

Location

Skegness is a seaside town located on the Lincolnshire coast of the North Sea approximately 52 miles north east of Grantham, 44 miles east of Lincoln and 39 miles south-east of Grimsby.  The property is situated within the town centre, on the east side of Roman Bank, close to the junction with Burgh Road (A158) in a mixed commercial and residential area.

Description

The property comprises a substantial four storey building arranged as three ground floor shops (one double unit) and six flats.  Five of the flats are self-contained arranged over ground and and the upper floors (1 x 2 bed and 4 x 3 bed).  A sixth flat (No.2A) is included within the demise of double shop unit Nos.104-106.  The flats generally require some upgrading and are accessed from the rear of the building.

Rental Information

The larger shop (Nos.104-106) was previously let at £7,200 per annum.

VAT
VAT Not Applicable.
Property Table
UnitAccommodationTenantTenancyRent Per Annum
100 Roman BankRetail 19.65 sq m (212 sq ft)IndividualHolding over£3,600
102 Roman BankRetail 19.65 sq m (212 sq ft)Comic book shopHolding over£3,600
104-106 Roman Bank & Flat 2ARetail/ residential (2 bedrooms) 107.00 sq m (1,152 sq ft)Vacant Vacant
Flat 1A2 bedroom flatIndividualExpired 03/06/2016 (holding over)£4,800
Flat 13 bedroom flatVacant Vacant
Flat 23 bedroom flatIndividualExpired 16/01/2016 (holding over)£6,600
Flat 33 bedroom flatOccupiedRefer to legal packRefer to legal pack
Flat 43 bedroom flatVacant Vacant


Joint Agents:
Hunters Turner Evans Stevens
Telephone: 01754 766 061
Email: roderick.turner@tes-property.co.uk


*Terms and Conditions

Buyers are strongly advised to read these terms and conditions, and check the Special Conditions and any applicable Addendum, prior to bidding on a Lot. Additional costs, charges and encumbrances may apply for Buyers once they have made a successful bid in relation to a property.

  1. The reserve price is the minimum price at which the property can be sold at auction.
  2. Where a guide price (or range of prices) is given, that guide is the minimum price at which, or range of prices within which, the seller may be prepared to sell on the date on which the guide price, or range of prices, is published. The sale price, whether prior to or at the auction, can be above or below the guide price depending upon market activity. BidX1 and the seller accept no responsibility for any losses, costs or damages incurred by a buyer as a result of relying on any guide price. The buyer must decide how much they should bid for any Lot. All guide prices are quoted subject to contract. Guide prices given by BidX1 or the seller cannot be accepted by the buyer as being a professional valuation for any purpose in accordance with the requirements or guidance notes of relevant professional bodies or other authorities.
  3. Both the guide price and the reserve price may be subject to change up to and including the day of the auction. Whilst every effort is made to ensure that these guides are not misleading, it is possible that the reserve price set for any Lot may exceed the previously quoted guide price (as the seller may fix the final reserve price just before bidding commences).
  4. The guide price for the Lot does not include the administration fee of £1,000 (inclusive of VAT) charged by BidX1. In addition, the guide price does not include VAT on the sale price, or any additional costs, charges or encumbrances that might apply to some Lots and/or some buyers. The Special Conditions of Sale of the seller, and any applicable Addendum, will state if there are other costs, charges or encumbrances and whether the seller has elected to charge VAT on the sale price.
  5. To participate in the sale BidX1 must hold a minimum amount of £4,500 from all bidders. This participation amount is fully refundable in the event that you are not the successful purchaser. For example, a participation fee of £4,500 comprises £3,500 relating to your bidder security (partial deposit payment) and an administration fee of £1,000 inc. VAT payable directly to BidX1. A higher participation amount may be payable depending on the reserve price of the Lot.
  6. Please note that Lots may be sold or withdrawn prior to auction.
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