This is a 4 storey Grade II Listed building within Boston town centre being offered for sale with vacant possession. 40 Market Place is situated prominently on the Market Place adjacent to the Town Bridge. The property has been used as a restaurant premises but is thought that it may be suitable for a variety of uses subject to the necessary planning consents being obtained from the local authority. The accommodation briefly comprises Restaurant and Kitchen to the Ground Floor, First Floor Restaurant, Cloakroom Facilities and Scullery, to the Second Floor is a Bathroom and 3 Store Rooms with attic storage space to the Third Floor, a cellar underneath offers further storage space.
*Please note this property is subject to an undisclosed reserve price which is generally no more than 10% in excess of the starting bid, both the starting bid and reserve price can be subject to change. Terms and conditions apply to the Modern Method of Auction, which is powered by IAM Sold.
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 buyers solicitor. This additional time allows buyers to proceed with mortgage finance.
The buyer is required to sign a reservation agreement and make payment of a non-refundable Reservation Fee. This being 4.2% of the purchase price including VAT, subject to a minimum of £6,000.00 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.
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 £220.00 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.
The Partner Agent and Auctioneer may recommend the services of third parties to you. Whilst these services are recommended as it is believed they will be of benefit; you are under no obligation to use any of these services and you should always consider your options before services are accepted.
Where services are accepted the Auctioneer or Partner Agent may receive payment for the recommendation and you will be informed of any referral arrangement and payment prior to any services being taken by you.
Energy Performance Certificates (EPCs) give information on how to make your home more energy efficient and reduce your energy costs. All homes bought, sold or rented require an EPC. EPCs carry ratings that compare the current energy efficiency and estimated costs of energy use with potential figures that your home could achieve. Potential figures are calculated by estimating what the energy efficiency and energy costs could be if energy saving measures were put in place. The rating measures the energy efficiency of your home using a grade from ‘A’ to ‘G’. An ‘A’ rating is the most efficient, while ‘G’ is the least efficient. The average efficiency grade to date is ‘D’. All homes are measured using the same calculations, so you can compare the energy efficiency of different properties.
THE ACCOMMODATION COMPRISES: A glazed entrance door provides access to GROUND FLOOR ENTRANCE HALLWAY MAIN RESTAURANT 71.5 m² / 770 ft² (with associated bar and service area) KITCHEN 25 m² / 270 ft² CELLAR FIRST FLOOR RESTAURANT 64 m² / 690 ft² (with associated bar and service area) SCULLERY LADIES CLOAKROOM GENTS CLOAKROOM SECOND FLOOR Having accommodation comprising BATHROOM 22 m² / 238 ft² STORE ROOM 1 22 m² / 238 ft² STORE ROOM 2 23 m² / 248 ft² STORE ROOM 3 AGENTS NOTE We have been made aware by the vendor that part of the Third Floor overhanging the adjacent property is held by way of a 99 year lease. The acting agent has not inspected the lease agreement. SERVICES Pygott and Crone have been made aware that mains water, electric, drainage and gas are connected to the property. The services or installations have not been serviced or tested. RATEABLE VALUE We are advised from enquiries to the Valuation Office Website that the 2017 rateable value is £25,750. LEGAL FEES In the usual manner each party will be responsible for their own legal costs incurred within the transaction. VAT We understand that there will be no VAT chargeable on the sale price.
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This property is sold subject to payment of a non-refundable reservation fee of 4.2% to a minimum of £6,000.00 including VAT.
Any successful purchaser will pay this to secure the sale. The reservation fee is in addition to the purchase price. Please take this into account when bidding.
A reservation fee is payable by the buyer only when the seller pays no fees to sell. As sellers pay no fees to sell, this is usually taken into account with a lower reserve price.
This property is being sold under the Modern Method of Auction, which requires the completion of the purchase to be within 56 days, although all reasonable endeavours must be made to exchange contracts within 28 days following the Draft Contract being received by the Buyer's Solicitor.
A non-refundable Reservation fee must be paid by the buyer within 2 hours following the conclusion of the auction or acceptance of an offer. This must be paid by cleared funds to the auctioneer who will issue an acknowledgement of reservation and purchase agreement In the 28 day period following the auction or the date of acceptance of the offer.
If the Buyer Information Pack Pack has been produced and provided by IAM Sold any successful purchaser will be required to pay £220.00 (including VAT) towards the cost of the preparation of the pack. These can then be used by your solicitor to progress the sale.
There are no other fees or charges payable to the Auctioneer however, there are other costs to consider such as:
For further information or to speak to one of our team, please call 01522 775 259.
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.