Lot 85

FREEHOLD MIXED USE INVESTMENT

51 High Street, Ilfracombe, Devon, EX34 9QB
51 High Street, Ilfracombe, Devon, EX34 9QB
Sold £390,000

Currently let at £41,860 per annum

A substantial double fronted property situated in the heart of Ilfracombe town centre and close to the seafront. Arranged as two ground floor commercial units with five
self contained flats occupying the upper three floors the property would benefit from some improvement works.

Once completed the property is considered suitable for retention as a letting investment or alternatively individuals may wish to consider selling the units back into the local market individually.

Commercial Units

Ground Floor

51 High Street

Shop floor, stock room, office, staff kitchenette and cloakroom with W.C.

Tenancy

Let on a six year commercial lease from 5th August 2020 at a current rent of £5,200 per annum. There is a rent review on the 5th September 2023.

51A High Street

Shop floor, staff kitchen and cloakroom with W.C.

Tenancy

Let on a six year commercial lease from 1st December 2020 at a current rent of £7,200 per annum. There is a rent review on the 1st December 2023.

Flats 1-5

Ground Floor

Communal entrance to rear and bin store.

First Floor

Flat 1

Entrance hall, open plan kitchen/living room, two bedrooms and bathroom with W.C.

Tenancy

Let on an Assured Shorthold Tenancy Agreement at a current rental of £495 per calendar month.

Flat 2

Entrance hall, open plan kitchen/living room, two bedrooms and bathroom with W.C.

Tenancy

Let on an Assured Shorthold Tenancy Agreement at a current rental of £495 per calendar month.

Second Floor

Flat 3

Entrance hall, open plan kitchen/living room, two bedrooms and bathroom with W.C.

Tenancy

Let on an Assured Shorthold Tenancy Agreement at a current rental of £475 per calendar month.

Outside

Communal veranda area.

Third Floor

Flat 4

Living room, kitchen, three bedrooms and bathroom with W.C.

Tenancy

Let on an Assured Shorthold Tenancy Agreement at a current rental of £495 per calendar month.

Flat 5

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

Tenancy

Let on an Assured Shorthold Tenancy Agreement at a current rental of £495 per calendar month.

Auctioneer's Note

At the time of publication the auctioneers have not inspected the whole of the property. Interested applicants should rely on their own enquiries to verify the information provided.

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/