81 High St Local commercial 42 m² À vendre Ilfracombe EX34 9NQ 176 427 € (4 210,74 €/m²)

FOR SALE BY ONLINE AUCTION.
AUCTION ENDS ON FRIDAY 28TH OF APRIL 2023 AT 12 NOON.
GUIDE PRICE OFFERS IN EXCESS OF £150,000

The bidding platform is now open and bids on the property can be made online at any time between now and the end of the auction which is 12 noon on Friday 28th of April 2023. All of the legal documentation can also be viewed online.

LOCATION
In a busy location to the eastern side of Ilfracombe's High Street the property occupies a bold corner spot with a return frontage and plenty of window display space. The town has a population of around 11,000 inhabitants which is boosted throughout the year with the influx of tourists.

THE PROPERTY
This interlinked end-terraced property has extensive ground floor retail space of around 1,250 sq ft of retail space plus ground floor stock rooms and staff cloakroom. Above the left-hand side is a 2-bedroom apartment above number 83 High Street. The central part has offices and stock rooms over, that's number 82 High Street and the other side is number 81 High Street which is a leasehold interest with a four bedroom flat above the shop. Each of the flats has separate access and the flat over the leasehold section is rented out on a shorthold tenancy agreement at £525 per calendar month. There is a small triangular shaped rear garden to the rear of number 83 High Street with rear pedestrian access. A small yard is located behind number 81 High Street.

THE BUSINESS
Jeffrey's Newsagents was an institution in the town and has served the Ilfracombe for many generations and closed in March 2023 due to the retirement of the owner. The whole property is now offered for sale and needs modernisation and upgrading throughout. This is a potential re-development proposition, subject to the necessary planning consents.

THE PROPOSAL
The property will be offered for sale by online auction with a price guide in excess of £150,000.

TENURE
Number 83 and 82 High Street are Freehold. Number 81 High Street is rented on a lease at a rent of £1,168.50 per quarter. The lease has expired and the tenants in effect are holding over on the lease. The flat above the leasehold part is let on a shorthold tenancy agreement at £525 per calendar month.

SELLERS SOLICITORS
Carinna Parsons
Berensens
14 Holyrood Street
Chard
TA20 2AH
Telephone:[use Contact Agent Button]
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Traditional Online Auction Information
Please note: this property is for sale by traditional online auction. This means that exchange will occur when the online timer reaches zero (provided the seller's reserve price has been met or exceeded). The winning buyer will be legally obliged to purchase the property at this price.

Pricing Information
The guide price amount specified is an indication of each seller's minimum expectation. It is not necessarily the amount at which the property will sell. Each property will be offered subject to a reserve (a figure below which the property will not be sold) which we expect will be set no more than 10% above the guide price amount.
Webbers and Bamboo Auctions shall not be liable for any inaccuracies in the fees stated on this description page, in the bidding confirmation pop up or in the particulars. Buyers should check the contents of the legal pack and special conditions for accurate information on fees. Where there is a conflict between the fees stated in the particulars, the bid information box or the bidding confirmation pop up and the contents of the legal pack, the contents of the legal pack shall prevail. Stamp Duty Land Tax or Land and Buildings Transaction Tax may also apply in some circumstances.

Buyers Premium & Other Charges
The winning buyer is charged a sum of £5,000. From this a buyers fee of £3,600 (including VAT) is retained by Webbers/Bamboo Auctions as a contribution towards online platform costs and £1,400 is payable towards the purchase price. On completion the Buyer will pay the sum of £174.90 to the Seller’s solicitors in reimbursement of search fees.