INVESTMENT DEVELOPMENT OPPORTUNITY
55-57 George Street, Banbury, OX16 5BH
- 0
Key features
Guide Price: *
£180,000
Fees apply
Buyer's fee:£3,600
Admin fee:£900
All fees include VAT at 20%
Holding Deposit: *£1,400
*Only charged if you are the successful buyer and goes towards the purchase price
Auction Type:
Traditional
Start price:
£180,000Bid history
0 bidsOccupying a central position within the historic market town of Banbury is this exciting mixed investment and development opportunity. This part-let two storey, mid-terrace property enjoys accommodation over three floors and now represents a versatile offering suitable for a range of schemes and uses to perhaps include with redevelopment into a number of self-contained dwellings, subject to all the necessary consents being obtainable.
ACCOMMODATION
No 55: Ground floor lock up shop trading as a Tattooists.
No.55a: Self-contained maisonette comprising: Shop, store, utility room, cloakroom/WC. First floor: Kitchen, living room, office, cloakroom/WC. Second floor: Two bedrooms, store, family bathroom/WC.
No.57a: Vacant former hot food take away and upper parts for potential development (please see planning information below).
TENURE
Freehold with part vacant possession.
TENANCIES
Ground floor commercial lease: Let to 'Living Colour Tattoo Studio Limited' dated from 1st October 2018 for a term of seven years with current rents reserved at £8,000 per annum subject to annual CPI increases not implemented but paying £8,400 per annum.
First & Second floor maisonette: Let on an Assured Shorthold Tenancy agreement dated from 1st June 2024 until 30th June 2025 with current rents reserved of £700 per calendar month.
LOCATION
Banbury is a significant commercial centre of north Oxfordshire being some 64 miles north east of London 37 miles sough east of Birmingham, 27 miles sough east of Coventry and 22 miles north west of Oxford.
PLANNING
A grant of planning consent for "Rear extension to form ground floor WC. Change of use at ground floor from A1 to flexible use of A1, A2 and A3. Change of use at first floor from A1 to C3" under application no.: 20/00708/F on the 26th August 2020. Time has now expired so buyers are to make and rely upon their own investigations in this regard.
EPC
Ratings: 55a = E; 55 = E; 57 - N/A.
VAT
All prices quoted are exclusive of VAT where chargeable.
WHAT3WORDS
///orbit.froth.tennis
MOBILE & BROADBAND COVERAGE
Broadband: Ultrafast available.
Mobile: Likely outside. Limited inside depending upon provider.
Source: ofcom.org.uk
ACCOMMODATION
No 55: Ground floor: Shop, store, utility room, cloakroom/WC. First floor: Kitchen, living room, office, cloakroom/WC. Second floor: Two bedrooms, store, family bathroom/WC.
VIEWINGS
Strictly by prior appointment.
IMPORTANT INFORMATION
All lots are sold subject to the Common Auction Conditions and Special Conditions of Sale (unless varied by the Sellers Solicitors), together with the Addendum (if applicable), which will be available on Auction Day.
AUCTION LEGAL PACK & FINANCE
Copies of the legal pack and special conditions of sale are available online to be downloaded, via the tab on the online auction property listing page. It is the purchaser’s responsibility to make all necessary legal, planning and finance enquiries prior to the auction.
Summary
- Property type
- Commercial
- Tenure
- Freehold
- Bedrooms
- 2
- Bathrooms
- 3+
- Council tax band
- Ask Agent
Summary
- Property type
- Commercial
- Tenure
- Freehold
- Bedrooms
- 2
- Bathrooms
- 3+
- Council tax band
- Ask Agent
Joint Agent
†Traditional auction
Exchange occurs at the end of the auction. This means that if the reserve is met or exceeded and the auction timer reaches zero, the successful bidder is legally obliged to pay the purchase price and the seller will be legally obliged to sell the property. To ensure that the successful bidder proceeds, the buyer is automatically charged a holding deposit, which is held in a secure client account, pursuant to the terms of a holding deposit agreement.
* Pricing Information
The Guide Price amount specified is an indication of each seller's minimum expectation. It is not necessarily the amount at which the property will sell. Each property will be offered subject to a Reserve (a figure below which the property will not be sold) which we expect will be set no more than 10% above the Guide Price amount.
Bamboo Auctions and 247 Property Auctions shall not be liable for any inaccuracies in the fees stated on this description page, in the bidding confirmation pop up or in the particulars. Buyers should check the contents of the legal pack and special conditions for accurate information on fees. Where there is a conflict between the fees stated in the particulars, the bid information box above or the bidding confirmation pop up and the contents of the legal pack, the contents of the legal pack shall prevail.
Stamp Duty Land Tax or Land and Buildings Transaction Tax may also apply in some circumstances.
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Disclaimer
All information relating to this property, including descriptions, pictures and other related information has been provided by 247 Property Auctions. All legal documents in relation to this property have been provided by the Vendor's solicitor. Neither Bamboo Auctions or any individual in employment with Bamboo Auctions makes any warranty as to the accuracy or completeness of any of the property information.
These particulars do not form part of any contract or offer. Buyers should not rely on them as statements of representation and should check that the information is correct by inspection or otherwise. Where there is a conflict between the contents of the legal documents and these particulars, the information contained in the legal documents shall prevail.