35 Queen Street, Market Rasen

Guide Price
£165,000
For Sale
1/22
Guide Price
£165,000
For Sale
Jasper Caudwell
MRICS BSc (Hons)
Chartered Surveyor
03301280939
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Property summary

MODERN METHOD OF AUCTION - T & Cs APPLY
RESERVATION FEE PAYABLE
Subject to a Reserve Price
Vacant Freehold Mixed Use Premises
Implemented Planning Consent for Retail Unit and Six Flats
Prominent High Street Location
Rear Courtyard Garden
Further Development Potential (subject to planning)

Get in touch

Jasper Caudwell
MRICS BSc (Hons)
Chartered Surveyor
03301280939

More about the property

For Sale by the Modern Method of Auction – T & Cs Apply.

Characterful three storey building WITH PLANNING CONSENT (implemented) to mixed use, with a small retail unit to the front and six residential flats to the rear and upper parts.  There is a cleared courtyard garden to the rear which includes a storage building with toilet facilities with the remaining areas being predominately gravelled. 

The Property is vacant and available to view via the acting agents. 

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BUYING CONDITIONS
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 buyer’s 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 4.5% of the purchase price including VAT, subject to a minimum of £6,600.00 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.
SERVICES
Any interested parties should satisfy themselves that the service connections are adequate for their intended use. No services or service connections have been tested by the acting agents. 
BUYERS INFORMATION PACK
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.
TENURE
The freehold of the property is for sale via the modern method of auction. See Buying Conditions section of the details for further information on this method of sale.
LOCATION
The property benefits from a glazed frontage onto Queen Street, the
principal retail street in Market Rasen. It occupies a prominent position
adjoined by other similar properties. 








Market
Rasen is a town and civil parish within the West Lindsey district of
Lincolnshire. It lies on the A46 approximately 13.8 miles (22km) northeast of
Lincoln, 18 miles (29km) east of Gainsborough and 16.3 miles (26km) southwest
of Grimsby. Market Rasen has a population of around 3,200 people and benefits
from many amenities including many retail shops, restaurants, pubs, rugby club
and golf club. It is known for its racecourse and has excellent schooling
provision. 

OUTGOINGS
The property has a current rateable value of £7,200. The charging authority is West Lindsey District Council. 
ACCOMMODATION
The Property is currently occupied by a ground floor retail unit with ancillary accommodation to the rear and over. The Property does have consent for the conversion into a smaller ground floor retail unit with six flats to the rear and over; please see 'Proposed Development' section of these details for further information.
VAT
We understand that no VAT will be charged on the sale price.
PROPOSED DEVELOPMENT
The property is within the administration of West Lindsey District Council and has planning permission which has been implemented via a number of consents. The main consent is under Reference: 144666 with other supplemental consents available on the Council website.




Once the conversion works have been completed, the property will provide (approx measurements stated from plans provided):




Ground Floor Retail Shop: 44.9 sqm / 483 sqft (one bedroom)

Ground Floor Flat 1: 58.3 sqm / 628 sqft (one bedroom)




First Floor Flat 2: 39 sqm / 420 sqft (one bedroom)

First Floor Flat 3: 51 sqm / 549 sqft (one bedroom)

Second Floor Flat 4: 39 sqm / 420 sqft (one bedroom)


Second Floor Flat 5: 44.4 sqm / 478 sqft (one bedroom)

Third Floor Flat 6: 64 sqm / 689 sqft (two bedrooms)




A link to the main planning permission is included here: 

https://www.west-lindsey.gov.uk/planning-building-control/planning/view-search-planning-applications/search-planning-application-database?id=144666&nb=1 





Note, floor areas taken from plans associated with the planning application. 

VIEWING
Viewings can be arranged via the acting agents Pygott and Crone.
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