House For Sale £150,000
Fowler Street, South Shields

Being sold via Secure Sale online bidding. Terms & Conditions apply. Starting Bid £150,000

This property will be legally prepared enabling any interested buyer to secure the property immediately once their bid/offer has been accepted. Ultimately a transparent process which provides speed, security and certainty for all parties.


MIXED USE

Nestled within the heart of the Southern Gateway master plan, this property offers you an exciting opportunity to be part of a thriving community undergoing a remarkable transformation.
With A1 and B1 classification for offices and workshops, 73 Fowler Street and 1A Wichester Street presents a versatile canvas for your entrepreneurial endeavors. Whether you're establishing a new venture or expanding an existing one, this space offers endless possibilities.

Former Guitar Shop and Workshop/Office: currently a renowned guitar shop and versatile workshop/offices.

1A Winchester Street, 1 Bedroom Flat: currently utilised as a holiday let

Embrace the character and charm this building's past while envisioning its future potential. With an impressive 985 years remaining on the lease, both the commercial space and residential flat enjoy long-term security and stability. Potential for conversion with existing survey plans drawn up this year and permission granted from freeholder to submit full plans for residential use

Both properties have had a full rewire 10 years ago and the main office building at 73 Fowler Street had a new gas central heating system and fire alarm system installed.

Small Business Rates

Rateable Value £4850 per annum discounted to zero with South Tyneside Council small business rate relief.

Total square footage 259 Sq Metres

Flat Council Tax Band A

Epc Grade E

Auctioneers Additional Comments
Pattinson Auction are working in Partnership with the marketing agent on this online auction sale and are referred to below as 'The Auctioneer'.

This auction lot is being sold either under conditional (Modern) or unconditional (Traditional) auction terms and overseen by the auctioneer in partnership with the marketing agent.

The property is available to be viewed strictly by appointment only via the Marketing Agent or The Auctioneer. Bids can be made via the Marketing Agents or via The Auctioneers website.

Please be aware that any enquiry, bid or viewing of the subject property will require your details being shared between both any marketing agent and The Auctioneer in order that all matters can be dealt with effectively.

The property is being sold via a transparent online auction.
In order to submit a bid upon any property being marketed by The Auctioneer, all bidders/buyers will be required to adhere to a verification of identity process in accordance with Anti Money Laundering procedures. Bids can be submitted at any time and from anywhere.
Our verification process is in place to ensure that AML procedure are carried out in accordance with the law.

A Legal Pack associated with this particular property is available to view upon request and contains details relevant to the legal documentation enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers' obligations and sellers' commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.

Auctioneers Additional Comments
In order to secure the property and ensure commitment from the seller, upon exchange of contracts the successful bidder will be expected to pay a non-refundable deposit equivalent to 5% of the purchase price of the property. The deposit will be a contribution to the purchase price. A non-refundable reservation fee of up to 6% inc VAT (subject to a minimum of 6,000 inc VAT) is also required to be paid upon agreement of sale. The Reservation Fee is in addition to the agreed purchase price and consideration should be made by the purchaser in relation to any Stamp Duty Land Tax liability associated with overall purchase costs.

Both the Marketing Agent and The Auctioneer may believe necessary or beneficial to the customer to pass their details to third party service suppliers, from which a referral fee may be obtained. There is no requirement or indeed obligation to use these recommended suppliers or services.