Lot 5

MIXED USE PROPERTY IN PROMINENT LOCATION

60 Mutley Plain, Plymouth, Devon, PL4 6LF
60 Mutley Plain, Plymouth, Devon, PL4 6LF
Sold £200,000

Currently let at £17,950 per annum - plus two vacant flats

Situated on a busy retail thoroughfare close to national retailers including Costa Coffee, Superdrug and a Co-operative food store this substantial four storey terraced property is currently arranged as a ground floor and basement commercial premises, with two well proportioned two bedroom flats occupying the upper floors.

The commercial unit is currently occupied by a tanning salon whilst the two flats each require a programme of improvement to varying degrees.

Interest is anticipated from investors looking to add to their portfolio and speculators who may consider individual resale of the flats back into the local market post improvement works.

Commercial Unit

Ground Floor

Retail area, staff room and staff toilets

Basement

Storage and retail area

Tenancy

Holding over under the terms of a commercial lease from 6th February 2008 to 23 December 2014 at a current rental of £17,950 per annum. The premises are currently trading as Consol Tanning Studio.

Residential

Ground Floor

Communal front access shared with 62 Mutley Plain.

First Floor - Flat 1

Kitchen, living room, inner hallway, two bedrooms, further room (previously used as a bedroom but having no windows) and bathroom with W.C.

Second Floor - Flat 2

Hallway, living room/kitchen, two bedrooms and bathroom with W.C.

Outside

To the rear is a useful area of yard space with store room (not inspected).

Auctioneer's Note 1

At the time of publication the auctioneers have not inspected the ground floor and basement commercial unit. Interested applicants are advised to make their own enquiries to verify the accommodation details provided.

Auctioneer's Note 2

For information relating to the commercial elements rateable value and other data go to www.gov.uk/correct-your-business-rates and enter the postcode for the property in the appropriate search field.

Freehold with Part Vacant Possession

Important

All lots are sold subject to the Common Auction Conditions and Special Conditions of Sale (unless varied by the Sellers Solicitors), together with the Addendum, which will be available on Auction Day.

* Price Information

Guides are provided as an indication of each Seller’s minimum expectation. They are not necessarily figures at which a property will sell for and may change at any time prior to Auction. Unless stated otherwise, each Lot will be offered subject to a reserve (a figure below which the Auctioneer cannot sell the Lot during the Auction).

We expect the reserve will be set within the guide range or no more than 10% above a single figure guide. Please check our website regularly at cliveemson.co.uk, or contact us on 01622 608400, in order to stay fully informed with the up-to-date information.

Additional Fees

An Administration fee and Other non-optional fees may also be payable in addition to the bid price. All lots are offered subject to the Common Auction Conditions and Special Conditions of Sale or Revised Special Conditions of Sale (as applicable) and may include the repayment of search and other fees and or costs payable by the buyer.

All buyers are advised to inspect all available legal documentation prior to bidding and will be deemed to fully understand what they may be liable for if they are successful in purchasing. This should also include Stamp Duty, Land Registry fees and VAT which may become payable on completion in line with any property transaction, whether it is by auction or private treaty. If, as a buyer, you are in doubt you should seek advice from your own professional advisors. For more information on fees please go to cliveemson.co.uk/buyers-fees/