Auction House / North West
  • For Sale By Unconditional Online Auction
  • Guide Price* : £0
  • Auction Ended 14/02/2023
  • Lot 15

41 Stamfordham Road, Newcastle upon Tyne, Tyne and Wear, NE5 3JN

Online Auction 14th February 2023

Description

Online Auction 14th February 2023

Tenanted Ground Floor Retail Unit Understood to be Let at £10,400 pa - Plus Freehold Of First Floor (sold off on long lease)

The property is to be sold as Auction without Possession, as such, we have not entered or inspected the property and no viewings can be undertaken. Please note the business is not included in the sale.

We have been advised of the following potential issues:
• There are anticipated issues with the roof, as a result of which, it may require repair or replacement
• The property does not have an electrical safety certificate due to water seepage from the roof onto the electrical wiring
• The freeholder has indicated that they may serve a Section 146 Notice, due to the alleged disrepair.

From information provided the property briefly comprises a ground floor convenience shop (held long leasehold for the residue of a 999 year lease from 1995) plus the freehold of the first floor flat subject to a 999 year lease.
Tenancy
The shop (t/as JCR Convenience Stores / Go Local) is subject to a lease dated 21st December 2018 for a period of 10 years. The lease contains an option for the lessee to renew for a further 10 years. Rent: £10,400 per annum subject to review.
It is not known if the tenants are in occupation.
The under lease provides for VAT to be charged on the rent payable which suggests that an option to tax may be in place.
Accommodation
Not inspected however the VOA have the NIA floor area of 83.7m2

Tenure
We are informed as follows: -

41 Stamfordham Road (the shop) is Leasehold (Title number TY321214 Leasehold 999 years from 1995). Only the ground floor is included.

The freeholder to the ground floor is also the registered proprietor of the leasehold title to the upper flat which is occupied on a 999 year lease.

The freehold title of the flat above is included in the sale of the shop’s long leasehold (Title number TY321217)

The freehold is subject to a 990 year lease.

Location
Situated fronting Stamfordham Road (A167) at the junction with Westerhope Gardens approximately 2 miles west of Newcastle City Centre.

Finance is available on this lot. For a decision-in-principle visit togethermoney.com/amydip/

ANTI-MONEY LAUNDERING REGULATIONS
In accordance with Anti-Money Laundering Regulations, two forms of identification and confirmation of the source of funding will be required from the successful purchaser.

Every effort has been made to confirm the accuracy of the lot details including any defect in the title both with the vendor and their solicitor. Auction House will not be held responsible for any failure to disclose any such defects.

Any purchasers choosing to buy without viewing in person are doing so at their own risk and acknowledge that the auctioneer will not be held responsible for any issues that may arise due to them being unintentionally missed from the video or sales particulars.

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

Tenure: Leasehold

Lease Details: TY321214

EPC Rating: Shop – D; Flat - F

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.

Buyers Premium

Buyer's Premium - £1200 inc VAT payable on exchange of contracts.

Administration Charge

Nil

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* Guide | £0
  • 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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Note

  1. MONEY LAUNDERING REGULATIONS: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
  2. General : While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.
  3. Measurements: These approximate room sizes are only intended as general guidance. You must verify the dimensions carefully before ordering carpets or any built-in furniture.
  4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.
  5. THESE PARTICULARS ARE ISSUED IN GOOD FAITH BUT DO NOT CONSTITUTE REPRESENTATIONS OF FACT OR FORM PART OF ANY OFFER OR CONTRACT. THE MATTERS REFERRED TO IN THESE PARTICULARS SHOULD BE INDEPENDENTLY VERIFIED BY PROSPECTIVE BUYERS OR TENANTS. NEITHER AUCTION HOUSE NOR ANY OF ITS EMPLOYEES OR AGENTS HAS ANY AUTHORITY TO MAKE OR GIVE ANY REPRESENTATION OR WARRANTY WHATEVER IN RELATION TO THIS PROPERTY.