Next auction Thursday 15th August 2.30PM

3-5 Bridge Street, Horncastle, Lincolnshire, LN9 5HZ



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Guide price

£95,000+


Property Type

Commercial


Key Features

  • Over 5,000 sq ft of vacant accommodation
  • ERV of restaurant approx. £12,000 PAX
  • Planning for conversion of upper floors to 3 apartments

Part of the 22 February 2018 auction
Nottingham Racecourse at 2.30PM

Conversion opportunity: A former ground floor restaurant with large private courtyard and two upper floors with planning consent for conversion to 3 apartments. Over 5,000 sq ft in total. Freehold for sale.

  • Prominent position within the Market Place
  • Over 5,000 sq ft of vacant accommodation
  • A former restaurant at ground floor of 1,439 sq ft
  • Large private courtyard area with the restaurant
  • ERV of restaurant approx. £12,000 PAX
  • Staircase off entrance to first & second floor
  • First floor extends to approx. 2,366 sq ft
  • Second floor extends to approx. 1,589 sq ft
  • Planning for conversion of upper floors to 3 apartments
  • Planning reference S/086/00349/17
  • Local Authority: East Lindsey District Council
  • Plans show 2 x two bed apartments to first floor
  • Second floor plans show a two bed apartment
  • Copy floor plans available upon request

Contact auction Estates on 0115 7844 600

Fees

A buyer's premium of £1,440 inc VAT (£720 inc VAT if the sale price is less than £10,000) is applicable to each lot purchased. The Seller may charge additional fees payable upon completion. If applicable, such fees are detailed within the Special Conditions of sale. Buyers are deemed to bid in full knowledge of this.

Guide Prices and Reserve Prices

Each property sold is subject to a Reserve Price. The Reserve Price, which is agreed between the seller and the auctioneer just prior to the auction, would ordinarily be within + or - 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. Both the Guide Price and the Reserve Price can be subject to change up to and including the day of the auction.

Conditions of Sale

The Conditions of Sale will be deposited at the offices of the auctioneers and vendors solicitors/licensed conveyancers seven days prior to sale and the purchaser shall be deemed to have knowledge of same whether inspected or not. Any questions relating to them must be raised prior to 11.30 am. Prospective purchasers are advised to check with the auctioneers before the sale that the property is neither sold nor withdrawn.

The purchaser will also be deemed to have read and understood the auction conduct notes printed within the sale catalogue.

Freehold with vacant possession of the former restaurant and two upper floors. The three shops at ground floor, together with an existing flat have been sold off on long leases. Further details are to be made available in the legal pack.

D

Email: andrea.park@gbsolicitors.com
Telephone: 01507 600610

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