Mixed Use Investment

A Grade II listed, End Terrace centrally located FREEHOLD building, comprising of substantial, currently vacant, Commercial premises on the ground floor with part tenanted HMO and flat set across three floors above, entered by separate access.

Tenure

Freehold

AUCTIONEERS NOTE

The ground floor commercial property has been refurbished and although is currently vacant, there are interested parties that are in negotiations to occupy. The Commercial income (subject to VAT at 20%) is currently being negotiated at: - Year 1: £12,000 - Years 2 & 3: £24,000 - Years 4, 5 & 6: £30,000 - Years 7, 8 & 9: RPI upward increase only - Ingoing premium of £20k (negotiable) The tenanted property currently produces an income of £3245pcm but has an estimated income of £6460 when fully let.

ACCOMMODATION

Commercial area comprises of front bar area, 3 seating areas, dancefloor area, toilets, kitchen area (not fitted), store room. Residential Letting is set over floors one, two and three including the rear tenement, and comprises of 11 letting rooms, 3 bathrooms / shower rooms, communal kitchen / dining space and a 1 bedroom flat.

FULL DETAILS

Photographs, Dimensions, Floor Plans and Area Measurements (when available) are included within our full details online on our website. All published information is to aid identification of the property and is not necessarily to scale.

VIEWINGS

Please telephone Auction House South West on 03456 461361 to request a viewing.

NOTICE TO BIDDER

Please be aware that if your Bid is successful on Auction day the exchange of contracts will happen immediately after the Auction.

Energy Efficiency Rating (EPC)

Current Rating See legal pack

Local Authority

North Devon District Council

Solicitors

Samuels Solicitors, Ref: Laura Mather, Tel: 01271 343457

Offered in association with

Midwinter Koval

Additional Fees

Administration Charge - £1200 inc VAT payable on exchange of contracts.

Disbursements - Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion.