Lot 93 - 130 Station Road, Ashington, Northumberland, NE63 8HE
- Unconditional Online Auction Sale
- Guide Price* : £150,000
Recently Refurbished Public House
Description
Located in Ashington, this newly refurbished, two-storey public house presents an attractive income-producing investment opportunity, offered for sale subject to an existing tenancy.
The property is arranged over two floors and benefits from a high-quality modern fit-out throughout. The ground floor comprises two well-appointed bar areas, providing flexible and appealing trading space. The first floor offers a spacious function room, suitable for private hire and additional revenue generation.
The premises are currently let on a 5-year lease, restricted to public house use, producing a passing rent of £24,000 per annum. This provides a strong level of income relative to the guide price, with scope for investors to assess returns based on their purchase price.
With generous internal accommodation, recent refurbishment, and secure occupational income, the property represents a compelling opportunity to acquire a well-presented licensed premises in an established location.
Sale of part of title number ND194282. Please refer to the legal pack for full information.
ADDITIONAL TERMS
1. This lot is for sale subject to unconditional auction terms.
2. If the reserve price is met or exceeded, contracts will exchange with immediate effect upon the close of the auction.
3. Following exchange of contracts, parties have 28 days in which to complete the purchase (unless specified otherwise in the special conditions).
4. A non-refundable deposit of 5% is payable within 1 hour of the auction closing.
5. The winning bidder is to make payment to the auctioneer a reservation fee of 6% including VAT subject to a minimum of £6,000 including VAT. The reservation fee is payable in addition to the purchase price and is payable within 1 hour of the auction closing.
6. An administration charge of £714 including VAT is payable by the successful buyer within 1 hour of the auction closing.
7. A legal pack has been provided by the seller’s solicitor and is available to download. We strongly recommend reviewing this thoroughly and discussing any queries with your solicitor prior to bidding.
8. I acknowledge that the seller may accept my bid at any time prior to the scheduled auction end date.
* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
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