Substantial Investment & Development Property – Part Let to Betfred Producing £26,400 p.a.– Plus Vacant Former Bank and Part Complete Conversion of Upper Floors To 6 Flats.

Substantial three storey investment & development property, part Let to Betfred producing £26,400 p.a. Plus vacant former (HSBC) bank and part complete conversion of upper floors To 6 x 1 bed flats. The vacant former bank extends to approximately 154m2 (1,662sq ft) and was previously let at £21,000 pa. Tenancy Betfred are understood to be paying £26,400 p.a. The lease dates from August 2007 for 15 years. Betfred continue to trade from the unit and have stated that they would be willing to renew the lease for a further 5 years. Planning The first and second floors benefit from planning consent dating from March 2021 for the conversion to 6 x flats (1 bed) Ref: APP/21/00128 (Wirral Council). Works have commenced on the conversion but require completion. Location The property is situated in the main pedestrianised retailing position in the town, opposite the Cherry Square Shopping Centre. Tenure: freehold Title number: MS170281 Council Tax Band : n/a Local Authority: Wirral

Tenure

Freehold

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.

IMPORTANT INFORMATION

Buying at auction is a contractual commitment, you are legally obliged to buy the lot on the terms of the sale memorandum at the price you bid. If you are the successful bidder, you are required to pay the deposit and auction fees immediately. As agent for the seller, we treat any failure to satisfy your obligations as your repudiation of the contract and the seller may then have a claim against you for breach of contract. You must not bid unless you wish to be bound by the common conditions of auction.

Local Authority

Wirral Metropolitan Borough Council

Solicitors

Addleshaw Goddard, Ref: Addleshaw Goddard

Additional Fees

Buyer's Premium - 1.2% inc VAT of the purchase price, payable on exchange of contracts.

Administration Charge - 1.98% inc VAT of the purchase price, subject to a minimum of £1980 inc VAT, payable on exchange of contracts.

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