+++ OFFERED BY MODERN METHOD OF AUCTION - Rare INVESTMENT/DEVELOPMENT opportunity which, 'in our opinion' would ideally suit a RESIDENTIAL SCHEME (subject to planning permission). POTENTIAL GROSS INCOME OF CIRCA £27,000PA!!! +++
Offering a premises of approximately 1,731 square meters (18,632 ft squared) and comprising from an end-of-terrace three story building currently used as offices and four warehouses/industrial units. which are currently used as garages.
The premises occupies a central location within Scarborough Town Centre, where business is more prominent and a wealth of amenities lay at hand.
Early viewing is a must in order to fully comprehend this fantastic investment/development opportunity.
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, however from the date the
Draft Contract is received by the buyers solicitor, the buyer is given
56 days in which to complete the transaction, with the aim being to
exchange contracts within the first 28 days. Allowing the additional
time to exchange on the property means interested parties can proceed
with traditional finance. Upon close of a successful auction
or if the vendor accepts an offer during the auction, the buyer will be
required to make payment of a non-refundable Reservation Fee of 4.2% of
the sale price, subject to a minimum payment of £6,000.00
including VAT, which secures the transaction and takes the property off
the market. Fees paid to the Auctioneer may be considered as part of the
chargeable consideration for the property and be included in the
calculation for stamp duty liability. Further clarification on this must
be sought from your legal representative. 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
from and all terms and conditions can be found in the Buyer Information
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 East Yorkshire
Property Auction powered by IAM Sold. Reservation Fee is in addition to
the final negotiated selling price.