OPENING BID

Timed Online Auction

27 January 2022, 10am-3pm

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  • TypeCommercial
  • Ownership Freehold
  • Occupation Vacant
  • Rateable Value Search SAA

Description

Full Address: 101 High Street, Prime Commercial Investment, Wick, KW1 4LR

***COMMERCIAL INVESTMENT OPPORTUNITY*** Large Accommodation Block located in the popular Highland town of Wick. REALISTIC RENTAL POTENTIAL OF 18000 PER ANNUM IN PRIME TOWN CENTRE LOCATION.

Realistic rent for this property would be up to 1500pcm, which would give an annual income of 18000 providing an EXCELLENT YIELD OF 20% assuming that the property was achieved at the guide price.

29, Swanson Drive, Wick sold for 265,000 in 2021; 12, Lindsay Drive, Wick sold for 260,000 in 2019; 23, Doocot View, Wick sold for 251,500 in 2020; Gandia, North Road, Wick sold for 250000 in 2021

Property consists of 9 well-presented bright spacious bedrooms, kitchen. Over 3 floors the 9 bedrooms Includes 3 en-suite rooms, a shower room & a further two w.c.'s. New Boiler & heating installed.

All beds, bedding, tv's, and furniture and fittings are included in the sale. The property has had a new boiler and heating system fitted and all bathrooms have been refurbished.

***COMMERCIAL INVESTMENT OPPORTUNITY*** Large Accommodation Block located in the popular Highland town of Wick. REALISTIC RENTAL POTENTIAL OF 18000 PER ANNUM IN PRIME TOWN CENTRE LOCATION. Excellent opportunity to purchase a well-presented and maintained accommodation block within the town of Wick, in a central location. Internally the accommodation block offers nine well-presented bright spacious bedrooms, a food preparation area over Three floors. Previously this property rented out for 1500pcm. EPC F Realistic rent for this property would be up to 1500pcm, which would give an annual income of 18000 providing an EXCELLENT YIELD OF 20% assuming that the property was achieved at the guide price. Sales Evidence from the area: 29, Swanson Drive, Wick sold for 265,000 in 2021; 12, Lindsay Drive, Wick sold for 260,000 in 2019; 23, Doocot View, Wick sold for 251,500 in 2020; Gandia, North Road, Wick sold for 250000 in 2021 Property consists of 9 well-presented bright spacious bedrooms, kitchen. Over 3 floors the 9 bedrooms Includes 3 en-suite rooms, a shower room & a further two w.c.'s. New Boiler & heating installed, All furniture and fittings included with sale. All bathrooms refurbished. Property Consists in detail: Front Vestibule Inner Hall First Floor Landing 3.44m x 8.92m (at widest and longest) The landing has access hatch to the loft. The plastered walls have been painted magnolia. Doors lead to a storage cupboard, bedrooms one, two, three and four, a W.C. and shower room. Bedroom One 2.45m x 3.19m Bedroom Two 3.02m x 3.02m Bedroom Three 5.25m x 3.51m Bedroom Four 5.07m x 3.30m Food Preparation Room 2.4m x 2.4m. Shower Room 1.18m x 1.67m W.C 2.12m x 1.21m W.C 2.12m x 1.21m The stairs that lead to the second floor are carpeted and there is a window to the rear elevation on the stairwell. Doors lead to the bedrooms five, six, shower from and W.C. There is also a central heating radiator and pendant light fitting. Further stairs lead up to the third floor. Second Floor Bedroom Five 4.91m x 2.63m W.C 1.52m x 1.18m Bedroom Six 4.82m x 3.50m Third Floor Bedroom Seven 3.45m x 3.43m En suite Bedroom Seven 1.2m x 2.3m. Bedroom Eight 6.09m x 3.45m En suite bedroom eight 1.20m x 2.23m Annex Bedroom Nine 4.76m x 3.77m (at widest and longest) En suite bedroom nine 1.21m x 2.39m All beds, bedding, tv's, and furniture and fittings are included in the sale. The property has had a new boiler and heating system fitted and all bathrooms have been refurbished.

The Royal Burgh of Wick is the most northerly town on the East Coast of Caithness and is on the very popular North Coast 500 (NC500) tourist route. The town offers multiple stores such as Tesco's, Boots, New Look, Superdrug, Argos and B&M as well as banks and a post office. The house is within easy driving distance of all amenities, including the Hospital and Doctors Surgery. There are many leisure opportunities including a popular golf course, squash club and public swimming pool/gymnasium. The town also boasts an Airport with links to Aberdeen and Edinburgh and has good rail and coach services, as well as being close to ferry terminals with frequent daily services to Orkney.

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Pricing Information & Bidding

Opening Bid: £72,000

What is an Opening Bid? This property is entered into an online auction where the bidding will start or open at the above price. Unless specified all properties are subject to a Reserve (minimum acceptable price).

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Terms of Sale

  • 10% Deposit
  • Standard Completion
  • Buyers Fee = 2.5% of Sale Price (Minimum £2,500 + vat)

* STANDARD TERMS are 4 week completion with 1 week extension. Sellers can request a varied completion and buyers must satisfy themselves prior to bidding.

Auction Details

Date & Time: 27 January 2022, 10am-3pm
Type: Timed Online Auction

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