Lot 66 - FREEHOLD COMMERCIAL INVESTMENT WITH FUTURE POTENTIAL

Sold Prior

Currently let at £15,900 per annum

A charming three storey property located on a busy arterial road close to the towns retail heart and renowned harbour. Offered to the market for the first time in nearly 100 years the property is currently arranged as a ground floor retail premises with ancillary accommodation on the upper two floors.

The property is likely to be of interest to investors and developers who will no doubt spot the future potential for residential conversion of the upper floors in order to create a pair of well-proportioned two bedroom flats. Any conversion works would subject to all the necessary consents being obtainable.

Ground Floor

Shop floor, dispensary area and small room (no exterior window) with wash basin.

First Floor

Landing, three rooms and cloakroom with W.C.

Second Floor

Landing and four rooms.

Outside

Access to side with exterior staircase leading to upper floors.

Tenancy

The entire building is let to Boots Chemists on a 15 year Fully Repairing and Insuring lease from July 2007 at a rental of £15,900 per annum.

Local Authority Planning

Local Planning Authority: Torbay Council. Tel: 01803 207801. Website: Torbay.gov.uk.

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/