Blackburn Street, Greater Manchester, Radcliffe, Lancashire, M26 1NQ

ONLINE AUCTION 17TH AUGUST 2021BIDDING OPENS 16TH AUGUST1PM 2021 AND FINISHES 17TH AUGUST 2021 AT 1PM. Bidding will be available by either telephone, proxy or online. If you wish to bid please register your details on line.

Description

Mixed Use Investment Property
• Fully Let & Producing £27,180 pa
• Three Flats & Retail Unit
• Recently Refurbished

Mixed Use Investment Property – Fully Let & Producing £27,180 pa – Three Flats & Retail Unit

Deceptively large mixed use property which has been recently refurbished and reconfigured to now form a ground floor self contained retail unit plus 3 x self contained flats (accessed from the rear).
The refurbishment includes the following:-
• Gas central heating in each flat
• New fitted kitchen
• New bathrooms
• New electrics
• Double glazing
• Carpets and decoration
In addition there is a single storey single car garage to the rear.

Tenancies
The property is fully let as follows:-

Retail Unit – let as Patisserie / Cake Shop – until March 2022 at £7,500 pax

46a - Ground Floor 1 bed flat - £550 pcm
46b - 1st Floor 2 bed flat - £595 pcm
46c - 2nd Floor 1 bed flat - £495 pcm

Total Rental Income £27,180 pa

Please refer to the legal pack for agreements.

The 1 bed flats briefly comprise lounge, bedroom, kitchen and bathroom/showeroom.
The 2 bed flat – lounge, bathroom, kitchen and two bedrooms.

Location
Situated in the centre of Radcliffe convenient for all amenities.

Please refer to legal pack for additional fees and the Auction Information document for guidance prior to bidding.

Important Notice to Prospective Buyers

We draw your attention to the Special Conditions of Sale within the Legal Pack, referring to other charges in addition to the purchase price which may become payable. Such costs may include Search Fees, reimbursement of Sellers costs and Legal Fees, and Transfer Fees amongst others.

Administration Charge

Administration Charge: £1,500.00

Disbursements

Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion

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* Guide | £250,000

Unconditional (Immediate Exchange)

Call the team on 01772 772450 for more information

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Finance available on this property |
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Help on Bidding

Bidding Overview

When the auction is open, you can place bids in line with the pre-determined bid increment levels using the bid increase (+) and bid decrease (–) buttons provided.

Every time you place a bid you will be asked to confirm your bid before submitting it, and you will be clearly shown on the screen whether your bid was successful.

A full list of all bids placed is displayed in the bid history table.

Maximum (Proxy) Bids

You are not restricted to placing a bid at the minimum bid amount, but can instead increase your bid and place a maximum (proxy) bid in the system. By setting a maximum bid, the system will automatically bid on your behalf to maintain your position as the highest bidder, up to your maximum bid amount. If you are outbid, you will be notified via email so you can opt to increase your bid if you so choose. You also have the option to decrease your proxy bid.

If two or more users place identical bids, the bid that was placed first takes precedence, and this includes proxy bids.

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Reserve Prices

Virtually every lot is sold subject to a reserve price (the minimum price that the auctioneer is authorised to sell for). When you submit a maximum bid, the actual bid placed by the system will depend on whether the reserve price has been met, as defined below.

If your maximum bid is below the reserve price

The system will place an immediate bid at your maximum bid amount.

If your maximum bid is at or above the reserve price

The system will automatically increase your bid to be at the reserve, and will only bid again on your behalf if you are subsequently outbid by another bidder (up to your maximum bid amount).

If another bidder has already placed the same maximum bid or higher, they will be the highest bidder and the system will notify you via email so you can place another bid.

NB : Your maximum bid is kept completely confidential – it's presence or amount are not disclosed to the auctioneer, vendor or any other bidder.

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Bidding Example

The current bid on a lot is £90,000. The reserve price has been set at £100,000 (not disclosed).

Tom wants to bid. The minimum bid amount is £91,000 but Tom decides to place a maximum bid of £97,000. This is below the reserve price, so the system places a bid for Tom at his maximum bid amount and he becomes the highest bidder at £97,000.

Jane logs on to bid. The minimum bid amount is £98,000 but Jane places a maximum bid of £105,000. The system automatically increases Jane's bid to meet the reserve and she is now the highest bidder at £100,000.

Tom is notified that he has been outbid. If no further bids are placed Jane would win the lot for £100,000.

Tom places a bid of £101,000, and Jane’s proxy bid instantaneously outbids him at £102,000 as this is the lowest bid required to make her the highest bidder.

Tom then places a maximum bid of £105,000. The current bid jumps to £105,000 with Jane as the highest bidder as she placed a proxy bid for that amount before Tom did.

Tom then places a bid at £106,000 and wins the lot as there are no other bids and it is above reserve.

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Timing and Bid Extensions

Lots will close sequentially in lot number order, with each lot scheduled to close 2 minutes after it's preceding lot. However, these times are subject to change due to the following reasons:

Withdrawn, Postponed and Sold Prior Lots

If a lot is withdrawn, postponed or sold prior before the bidding has started, the system will automatically bring forward the scheduled end times of all succeeding lots to maintain a 2 minute gap between lots closing.

Bidding Extension Window

If a bid is placed within the final 60 seconds of the auction's scheduled end time, the auction will be extended by an additional 60 seconds – known as the 'bidding extension window'.

If a bid is placed in the 'bidding extension window', the countdown clock will immediately reset to 60 seconds again, and the auction will only finish when an entire 60 second bidding extension window passes without any further bids being placed, i.e. 60 seconds of 'bidding silence'.

Changes to the Scheduled End Dates

When an extension window is in progress, the bidding software may push back the scheduled end times of subsequent lots to ensure that lots close consecutively and with a minimum 2 minute duration between each one. When this happens, an advisory note will be displayed on the affected lot(s).

NB : Do not leave placing your bid to the last few seconds. It gives you no advantage, you risk your bid not being received by the server in time and you could lose the lot to another bidder.

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NB: Please note that the way the bidding works may vary slightly from auctioneer to auctioneer. We strongly advise you to read the bidding guide for any auction you plan to bid on.

By setting a proxy bid, the system will automatically bid on your behalf to maintain your position as the highest bidder, up to your proxy bid amount. If you are outbid, you will be notified via email so you can opt to increase your bid if you so choose.

If two of more users place identical bids, the bid that was placed first takes precedence, and this includes proxy bids.

Another bidder placed an automatic proxy bid greater or equal to the bid you have just placed. You will need to bid again to stand a chance of winning.

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Auction House / North West

ONLINE AUCTION 17TH AUGUST 2021BIDDING OPENS 16TH AUGUST1PM 2021 AND FINISHES 17TH AUGUST 2021 AT 1PM. Bidding will be available by either telephone, proxy or online. If you wish to bid please register your details on line.

Description

Important Notice to Prospective Buyers

Administration Charge

Disbursements

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