Gladstone Street / Cleveland Road, Scarborough Auction Guide Price £150,000

+++ 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.