This commercial property is offered for sale via traditional auction. The property is currently tenanted by a hairdresser/salon with a FRI lease in place which covers five years, starting from December 2022. The current gross rental income is £13,200 reflecting over a 13.8% yield based on the guide price. The contract also reflects the monthly rent will increase by £100 per month after each year that passes. Please note the current owners have chosen not to enfore the rent increase to date. Based on the terms in the contract, in the final year the gross rental income would be £18,000 per annum, which is just under an 19% return based on the guide price. The property is located on the popular South Elmsall high street. Please note: a 15 working day completion applies to this lot.

Ground Floor

Salon area and back room, 2 x WCs

First Floor

4 x office rooms and a WC

Externally

Outside space to the rear

Additional Information

Tenure

Freehold

Charges and Payment

In addition to the deposit Administration Charge: 0.9% inc VAT of the purchase price subject to a minimum of £1,500 inc VAT

Additional Fees

Administration Charge - See above

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.