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Empress Swimming Pool, 9a, Park Street, CHATTERIS, Cambridgeshire, PE16 6AB

21st May 2019
starts 10:30 AM at Grand Connaught Rooms
last bid was £261,000, available for

Tenure: Freehold

Freehold leisure investment
Tenant currently holding over
Reversionary redevelopment potential (STPP)

Location:
Chatteris is one of the four market towns in the Fenland District of Cambridgeshire lying between Huntingdon, March an Ely. Lying between the A141 to the west and the A142 to the east Chatteris is well located for transport links with Ely lying to the south east where the A142 connects to the A10. The town provides a good range of local shopping and recreational facilities in fact, it is understood that the “Empress Swimming Pool” is the only swimming pool facility available in the town. The town is host to a resident population of some 8,820 according to the 2001 census but also draws from a significant surrounding catchment.

Description:
The property comprises this unique leisure opportunity with possible reversionary development prospects (STPP) situated within the heart of the town. The building was formerly a cinema and understood to have been converted circa 1964 to provide bespoke swimming pool leisure facilities with reception room, changing room facilities and other ancillary space. There is additional first floor space which is currently not utilised with a total gross internal floor area of some 6,500sq.ft. including a former car showroom which is offered with vacant possession. In total the building sits within the site of 0.235 acres with frontage to Park Street.

Tenancy:
The property is let to N W Angell, G Brinton and D Frost (trustees of Empress Swimming Pool Trust) which has charitable status (charity no. 803707). The lease is for a term of 15 years from 1st January 2001 and was originally let at £4,500 per annum with the current rent being £6,000 per annum effective following the rent review in January 2007. The tenants are currently holding on this lease and have a rolling option to terminate the lease giving not less than 6 months’ notice in writing expiring on any anniversary day of the term.

Potential:
A purchaser may wish to consider serving requisite notices under the Landlord and Tenant Act to terminate the lease for the purposes of redevelopment or indeed negotiate new terms with the charity. Given the significant built area and position of this property, it is considered that the space has significant redevelopment potential subject to the necessary consents and purchasers are deemed to rely on their own enquiries in this respect.

To view:
Strictly and only by prior arrangement with the auctioneers.















Important Notice:
For each Lot, a contract documentation fee of £1,150 (inclusive of VAT) is payable to Barnard Marcus Auctions by the buyer. The seller may charge additional fees payable upon completion. If applicable, such fees are detailed within the Special Conditions of Sale. Buyers are deemed to bid in full knowledge of this.

The Guide Price quoted must not be relied upon by prospective purchasers as a valuation or assessment of value of the property. It is intended to provide purchasers with an indication of the region at which the reserve may be set at the time of going to press. The guide price may be subject to variation and interested parties are advised to make regular checks for variations and should be aware that the reserve price may be either below or above the quoted guide price.

Prospective purchasers should also be aware that the eventual sale price may be above or below the guide level dependent upon competition, and should therefore not presume the guide to be indicative of the final expected sale price or the price the property is available at.

When setting the guide price, the auctioneers have given consideration to the seller’s instructions in respect of their indicated reserve price at the time of instruction. The reserve price, (the level below which the property will not be sold), remains confidential between the seller and the auctioneer. The guide price therefore, is intended to indicate the region at which the reserve price is intended to be set. The seller will confirm their final reserve price close to the auction date and if appropriate the auctioneers may adjust the guide price to reflect this.
Whilst Barnard Marcus makes every effort to ensure the safety and security of viewers at properties, we have not carried out a detailed Health & Safety inspection of properties in our auctions and cannot therefore guarantee the safety and security of viewers.
Prospective purchasers and bidders attend properties entirely at their own risk. Particular care should be taken when accessing cellars, attics, exterior grounds and outbuildings and boundaries. All non-conducted inspections of vacant sites should be made in daylight hours only and entry into such sites is entirely at the viewers’ risk.

1. MONEY LAUNDERING REGULATIONS: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
2. General: While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.
3. Measurements: These approximate room sizes are only intended as general guidance. You must verify the dimensions carefully before ordering carpets or any built-in furniture.
4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.
5. THESE PARTICULARS ARE ISSUED IN GOOD FAITH BUT DO NOT CONSTITUTE REPRESENTATIONS OF FACT OR FORM PART OF ANY OFFER OR CONTRACT. THE MATTERS REFERRED TO IN THESE PARTICULARS SHOULD BE INDEPENDENTLY VERIFIED BY PROSPECTIVE BUYERS OR TENANTS. NEITHER SEQUENCE (UK) LIMITED NOR ANY OF ITS EMPLOYEES OR AGENTS HAS ANY AUTHORITY TO MAKE OR GIVE ANY REPRESENTATION OR WARRANTY WHATEVER IN RELATION TO THIS PROPERTY.

Lot location is based upon nearest property postcode only. Actual location of property being sold may differ.

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lot infomation last updated: 7th June 2019 at 02:36 PM

what's next?

Before making an offer or attending the auction to bid, we recommend that you visit the property, check all of the contents of the legal pack and where appropriate ask your solicitor to check this too. You also need to ensure you have means to pay the deposit, our contract documentation charge and have the funds available to meet the full purchase cost on completion. For more information please read our buyers guide.
1
arrange a viewing
We arrange open house viewings on many lots or have arranged for local agents to hold keys. Some viewings may be external only and properties with tenants may not be available to view internally.
2
check or show your lawyer the legal pack/s
Click the "Legal Docs" button at the top of this page to download the legal pack for this lot. If the pack is not yet available just save the Lot to “my lots” and we will contact you as information becomes available or gets updated.  Please also review the general conditions of sale which are applicable to every lot.
3
arrange the needed funds
Ensure you have means to pay the deposit, our contract documentation charge and have the funds available to meet the full purchase cost on completion. Click here to visit service providers that may be able to help you.
4
schedule the auction in the diary
Add the auction to your online calendar or diary. When attending in person, be sure to arrive in good time in order to register. We suggest you arrive around one hour prior to the lot being offered.
5
register to bid / telephone bidding
You can bid by attending the auction in person or we can arrange for you to bid by telephone or you can instruct us to bid for you by proxy. Get started and register today.