Bury New Road, Prestwich, M25

For sale via Pearson Ferrier Auctions starting Tuesday 11th February, bidding will be on the Pearson Ferrier website and you can register to bid now. An ideal Freehold mixed use investment located in the heart of Prestwich village. The property comprises a flat with a shop below with tenants in place for both. The commercial unit on the ground floor has a tenant in place from 12th July 2024 to 12th July 2029 with the first years rent being ?15,000, the second years rent being ?16,500 and the third years rent being ?18,150 with a rent review at the end of the third year. The apartment on the first floor has a tenant in place at ?400pcm who has been in place since 2016. There is potential to increase the rent to reflect the current market rate for the flat. The tenancy agreements for both parts can be accessed in the legal pack. The total income for both will be ?21,300 for the year commencing July 2025, rising to ?22,950 for the year commencing July 2026. The property is located in the heart of Prestwich close to an array of other commercial and residential properties and being well placed for the M60 motorway. The shop has an open plan shop area, W.C., washing up room, kitchen, prep area and basement area with access to the rear. Please note that we have not been given access to the flat, but have been advised by the current owner that it comprises an open plan living area, bedroom, bathroom and hallway. The flat is accessed via stairs to the rear. The floor plan only shows the ground floor area, not the basement or flat. Auction guide price ?200,000 - ?225,000. Buyers are advised to check the legal pack before bidding, this will be available on the Pearson Ferrier website via the bidding window on the property when available. Any changes to the details will be updated on the Pearson Ferrier website before the auction.

Additional Information

Tenure - FreeholdCouncil Tax 479a - Band ABusiness Rates 479 - ?8,200PAEPC 479a - D - 58/72EPC 479 - C - 56Solicitor

Auction Information

Please note that with the property being tenanted no access will be given for viewings.The auction is a traditional auction with exchange on the winning bid and completion taking place within 20 working days from the auction (unless stated otherwise in the legal pack).Buyer's Fees - There is a buyer's premium charge of ?2,500 + VAT or 2% of the purchase price (whichever is greater) and a buyer's administration fee of ?500 + VAT. If there are any disbursements from the sellers side these will be detailed in the legal pack. Buyer's are advised to check the legal pack before bidding.Every effort has been made to confirm the accuracy of the details including any defects with the vendor and their solicitor. Pearson Ferrier will not be held responsible for any failure to disclose any such defects. Any purchasers buying without viewing, or if not available carrying out a survey are doing so at their own risk and acknowledge that Pearson Ferrier will not be held responsible for any issues that may arise due to them being unintentionally missed from the advert.