21 Eign Gate, Hereford, HR4 0AB
Freehold City Centre Building comprising a Ground Floor Commercial Investment together with Vacant Upper Floors in Hereford
Guide price*
£250,000-£275,000
Plus fees
Unsold
Lot information
Commercial Investment
Auction details:
Thursday 26th October 2023 @ 09:00AM
A Freehold City Centre Building comprising a Ground Floor Commercial Investment together with Vacant Upper Floors having the benefit of planning permission for reconfiguration of the existing accommodation to form 2 No. Two Bedroomed Apartments. Current Gross Income of Ground Floor Investment: £15,000 pa.
Property Description
The property comprises a City Centre premises with a restaurant and associated uses the ground floor let on a 25 year lease with no breaks, RPI growth from 2022, from 1st March 2022 at a current rent of £15,000 pa. gross together with vacant separately accessed upper floors for which planning permission has been granted for reconfiguration of the existing accommodation to form 2 No. Two Bedroomed Apartments.Location
The premises are located in Hereford City Centre, in a popular pedestrian precinct, close to the junction of Eign Gate with High Street and Broad Street and about 0.25 from Hereford Cathedral. The premises are immediately adjacent to Ryman and other retailers in the vicinity include Café Nero, Shoe Zone and Superdrug.Energy Performance Rating
See legal pack.Tenure
Freehold – Subject to the existing tenancy of the ground floor restaurant for a term of 25 year lease with no breaks, RPI growth from 2022, from 1st March 2022 at a current rent of £15,000 pa. gross.For confirmation of the Lease details please refer to the legal pack.
Planning
We understand that planning permission (Ref 231981) for ‘Proposed reconfiguration of existing apartment to create 1 additional 2 bedroom apartment resulting in 2 No. 2 bedroom apartments at first and second floor level’ was granted by Herefordshire Council on 24th August 2023 subject to conditions. Interested parties must however make their own enquiries of the Local Planning Authority and independently satisfy themselves as to the suitability of the property for any use or development they propose.Plans/Aerial Photographs
Any plans or aerial photographs provided with these particulars are for identification purposes only and their accuracy is not guaranteed.Value Added Tax
For clarification in respect of whether or not VAT will be chargeable on the purchase price please refer to the Legal Pack.Auctioneer's Note
Please note offers may be considered prior to the Auction Sale.Viewings
Strictly by appointment with the Auctioneers.Accommodation
| Sq.m. | Sq.Ft. | |
|---|---|---|
| Ground Floor: | 86.83 | 934 |
| First Floor: | 41.84 | 450 |
| Second Floor: | 42.01 | 452 |
| Total Approx: | 170.68 | 1,836 |
DISCLAIMER
Bond Wolfe or their Agents for the seller of these Lots give notification that any particulars contained within the catalogue/website are prepared to the best of their knowledge and include information that has been provided to them. Plans, photographs and room measurements (provided via a 3rd party) are provided as guidance only and should not be relied upon. All potential buyers should make their own enquiries and investigations to the accuracy of the information contained in these particulars or to obtain further information that is not provided which they deem to be important prior to bidding. Any amendments to the particulars that Bond Wolfe are aware of will be published on the addendum, which is available within the lot information.
LIVE-STREAMED AUCTION
Please note that the Auction will be livestreamed via our website. You can take part remotely via Proxy, Telephone or Online, if you wish to bid you must pre-register via our website no later than 3pm the day prior to the auction. Please click here for further details.
*DEFINITION OF GUIDE & RESERVE PRICE
All properties are sold subject to a reserve price, which is the minimum price the seller is willing to accept and is confidential between the seller and Auctioneer. The guide price is only an indication as to where the reserve is currently set and not necessarily the Auctioneers expectation of what it will sell for. If the guide price is a bracket figure, then the reserve price cannot be higher than the top end of the guide price, if the guide price is a fixed figure, then the reserve cannot be more than 10% above the guide price. The guide price and reserve price can be subject to change at any time up to and including the auction day and, properties can often sell for substantially more than the quoted guide price.
COSTS AT AUCTION
When buying at auction you will unconditionally exchange contracts on the fall of the auctioneer’s gavel, please therefore ensure you have read the legal pack for each property prior to bidding. They are all individual and include the terms and conditions of your purchase as well as any costs in addition to the purchase price.
The sale of each lot is subject to an administration fee of £2,160 inc VAT (£1,800.00 + VAT) (unless otherwise stated in the important information), payable on the fall of the gavel/at the end of the online auction. Please note that the administration fee for the Local Authority lots may differ and all interested parties should enquire directly with the Auctioneers as to the fee applicable.
Any additional costs excluding the administration fee will be listed in the Special Conditions within the legal pack and these costs will be payable on completion. The legal pack has been prepared by the seller’s solicitor(s), who are responsible for its contents and disclosing all know information. It is available to download free of charge under the ‘lot information’, and you take responsibility for reading and understanding the legal pack and are bound by all the contents. Any stamp duty and/or government taxes are not included within the Special Conditions within the legal pack and all potential buyers must make their own investigations.
