Lot
021
Auction: November 2022 Online Auction 09/11/2022

4-8 New Lane, Selby, North Yorkshire YO8 4QB

Property Details
Location
Description
A freehold town-centre investment opportunity currently generating £93,750 of annual rental income. The property comprises 4 ground floor commercial units; 3 upper floor apartments sold by way of long leaseholds; and 3 further upper floor apartments, recently refurbished, and let by way of ASTs.
Location
The property fronts New Lane, located centrally in Selby town centre and accessible via the A19 running east-to-west through the town centre. A wide range of national brands are nearby occupiers, such a Costa Coffee, Greggs, and JD Wetherspoon. There are numerous car parks in the vicinity of the property in addition to Selby train station which is approximately 0.4 miles away. York and Leeds are situated approximately 14 and 25 miles from the property, respectively.
Accommodation

Tenancy

The below details are provided to Pugh & Co by the vendor. Please see the tenancy schedule within the legal pack for further details on rent-free periods, reduced and stepped rents, and rent reviews. 

The total agreed rent of the properties is £93,750. Further details, such as £6,200pa of future, stepped rents, and an initial rent-free period with reduced rent afterwards (Commercial Unit C) are provided in the tenancy schedule, available in the legal pack. Buyers may be particularly attracted by the 20 year lease with DP Realty Limited T/A Dominos, commenced in March 2017 and containing 5-yearly rent reviews. 

FloorDescriptionAgreed Rent
Ground Floor4 x Commercial Units£67,500
First Floor3 x Apartments (Sold via Long Leasehold)£450 (Ground Rent)
Second Floor3 x Apartments £25,800
Total 
£93,750
Costs
Details of the Buyer's Premium and any additional fees payable are contained within the legal documents.
VAT
The vendor has advised VAT is payable on this transaction.
General
1. All the information provided on our website is for indicative purposes only and interested parties should refer to the contents of the legal pack and rely upon their own due diligence as a prudent bidder.

2. PLEASE NOTE BIDDING COMMENCES ON TUESDAY 8TH NOVEMBER AND CLOSES ON WEDNESDAY 9TH NOVEMBER.

3. Energy Performance Certificate = B-F
Addendum
The vendor has advised VAT is payable on this transaction.

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