Retail premises for sale in Market Place, Alnwick NE66

Location

Alnwick is an affluent market town approximately 33 miles north of Newcastle upon Tyne and 18 miles north of Morpeth. The town is easily accessed from the A1 motorway which lies immediately to the east of town. The town is an historical market town and the ancestral home of the Duke of Northumberland and Alnwick Castle. Alnwick benefits from a strong rural catchment as well as being a thriving international tourism destination. The development of the Alnwick Gardens dramatically increased tourist numbers to the town.

The property is situated within the Market Place within the centre of the town. The Market Place is a pedestrianized area that hosts a number of markets and entertainments events throughout the year providing a good focal point and attracting good levels of footfall. The buildings within the Market Place are comprised of a mix of retail, office and leisure properties providing a good mix of occupiers. Neighboring Streets host a number of national retailers mixed with well regarded and established local traders.

The property benefits from an additional second access onto Fenkle Street another popular residential street within the town centre and therefore creates a double fronted unit.

Description

The subject property comprises a mid terrace building which is arranged primarily over ground floor with a small ancillary office to the first floor.

The ground floor provides open plan retail accommodation fit out to a high standard by the current tenant. The property benefits from retail frontage onto both the Market Place and Fenkle Street, two of the main retail areas within the town.

The mezzanine level comprises ancillary office space.

Accommodation

Ground Floor 60.10 m² 647 ft²
First Floor 16.47 m² 177 ft²
Total 76.57 m² 824 ft²

Tenancy information

Tenant Occupied area Rent (Per annum) Lease Terms
Hotspur Gin Ltd 3 Market Place £21,000 3 year lease from 1st October 2021 until 30th September 2024.
Total £21,000

EPC rating

Awaiting EPC Ratings.

Terms

The subject property is available by way of freehold with a guide price of £190,000 (One Hundred and Ninety Thousand Pounds).

VAT

All rents, premiums and purchase prices quoted herein are exclusive of VAT. All offers are to be made to Bradley Hall upon this basis, and where silent, offers will be deemed net of VAT.

Legal costs

Each party is to bear their own legal costs involved in the transaction.

Money laundering regulations

In accordance with the Anti-Money Laundering Regulations the Purchaser/Tenant will be required to provide two forms of identification and proof of the source of income.

Auctioneer's Comments
This property is for sale by the Modern Method of Auction. Should you view, offer or bid on the property, your information will be shared with the Auctioneer, iamsold.
This method of auction requires both parties to complete the transaction within 56 days of the draft contract for sale being received by the buyers solicitor. This additional time allows buyers to proceed with mortgage finance (subject to lending criteria, affordability and survey).
The buyer is required to sign a reservation agreement and make payment of a non-refundable Reservation Fee. This being 4.2% of the purchase price including VAT, subject to a minimum of £6,000.00 including VAT. The Reservation Fee is paid in addition to purchase price and will be considered as part of the chargeable consideration for the property in the calculation for stamp duty liability.
Buyers will be required to go through an identification verification process with iamsold and provide proof of how the purchase would be funded.
This property has a Buyer Information Pack which is a collection of documents in relation to the property. The documents may not tell you everything you need to know about the property, so you are required to complete your own due diligence before bidding. A sample copy of the Reservation Agreement and terms and conditions are also contained within this pack.
The buyer will also make payment of £300.00 including VAT towards the preparation cost of the pack, where it has been provided by iamsold.
The property is subject to an undisclosed Reserve Price with both the Reserve Price and Starting Bid being subject to change.

Referral Arrangements
The Partner Agent and Auctioneer may recommend the services of third parties to you. Whilst these services are recommended as it is believed they will be of benefit; you are under no obligation to use any of these services and you should always consider your options before services are accepted.
Where services are accepted the Auctioneer or Partner Agent may receive payment for the recommendation and you will be informed of any referral arrangement and payment prior to any services being taken by you.