92-94 Upper St Giles Street

Ref: Lot 4

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Town & Country Property Auctions East Anglia
Town & Country Property Auctions East Anglia

Unconditional (Buyer's Premium)


UNCONDITIONAL LOT Buyers Premium Applies Upon the fall of the hammer, the Purchaser shall pay a deposit and a 5%+VAT (subject to a minimum of £5,000+VAT) buyers premium and contracts are exchanged. The purchaser is legally bound to buy and the vendor is legally bound to sell the Property/Lot. The auction conditions require a full legal completion 28 days following the auction (unless otherwise stated).

Description

An extensive lower ground floor, cellar area formerly used by Eaton Rifle Club with approximately 2,455 sq ft (228.1 sq m) of space. The entrance is accessed on ground floor level (with WC facilities) with steps down to the main area comprising of three principal areas, all of varying height (main section 2.7m) and with store rooms. The main cellar area has an uninterrupted length of approximately 27 metres. Long leasehold. Varying uses all SUBJECT TO PLANNING.

The property is located on Upper St. Giles Street, Norwich in the heart of the City and accessed via a pathway to the side of a block of flats on the South side of the street. Upper St. Giles is a quiet but vibrant location with art galleries, coffee shops and restaurants making it a desirable location.

The property is being offered with a long leasehold as follows:

Term: 125 years from 1st April 2006
Ground Rent: £300 per annum

Vacant possession

Accommodation

An extensive lower ground floor, cellar area formerly used by Eaton Rifle Club with approximately 2,455 sq ft (228.1 sq m) of space. The entrance is accessed on ground floor level (with WC facilities) with steps down to the main area comprising of three principal areas, all of varying height (main section 2.7m) and with store rooms. The main cellar area has an uninterrupted length of approximately 27 metres. Long leasehold. Varying uses all SUBJECT TO PLANNING.

The property is located on Upper St. Giles Street, Norwich in the heart of the City and accessed via a pathway to the side of a block of flats on the South side of the street. Upper St. Giles is a quiet but vibrant location with art galleries, coffee shops and restaurants making it a desirable location.

We would advise any interested parties to speak to the local planning authority in regards to the type of use that would be permitted. Due to limited access and the nature of the surrounding areas, uses involving lots of people (i.e nightclub) are unlikely to be permitted, however, we would suggest speaking to them direct.

The property is being offered with a long leasehold as follows:

Term: 125 years from 1st April 2006
Ground Rent: £300 per annum

Vacant possession

Planning Authority
Norwich City Council

Directions:
It is opposite The Bell Jar shop and a coffee shop called NINETY ONE. Go through the gates, walk to the back of the parking area and the entrance is on the back right

Tenure

Leasehold

Buyers Premium

* Plus 5% Buyers Premium + VAT

Special Conditions

Any additional costs will be listed in the Special Conditions within the legal pack and these costs will be payable on completion. The legal pack is available to download free of charge under the ‘LEGAL DOCUMENTS’.  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.

buyers' attention should be drawn to the following clauses of the lease as the freeholder will only revoke or alter these clauses under the most exceptional circumstances; Schedule 5
4.5
4.7
4.15
4.20



* The Guide Price given is an indication as to where the Reserve is currently set. The Reserve is the minimum price that the auctioneer is authorised by the vendor to sell the property for. It is subject to change throughout the marketing period. Where the Guide Price is a single figure, the current Reserve will not be more than 10% above that single figure, and where a price range is given (i.e. £50,000 - £55,000), the Reserve will not exceed the upper level of the range. It is not necessarily what the auctioneer expects it will sell for.

We would like to point out that all measurements, floor plans and photographs are for guidance purposes only (photographs may be taken with a wide angled/zoom lens), and dimensions, shapes and precise locations may differ to those set out in these sales particulars which are approximate and intended for guidance purposes only.

These particulars, whilst believed to be accurate are set out as a general outline only for guidance and do not constitute any part of an offer or contract. Intending purchasers should not rely on them as statements of representation of fact, but must satisfy themselves by inspection or otherwise as to their accuracy. No person in this firms' employment has the authority to make or give any representation or warranty in respect of the property.

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