About this property

Offered is the freehold interest of the building, to include the ground floor commercial unit, currently let until November 2020 and generating an income of £650 pcm/£7,800 pae. The upper floors comprise of three flats, being away on 199 year leases from 2005, generating combined grounds rents of approximately £233 per annum.

Listed By

Property Auctions South West
Head Office
2 Cotton Street
Liverpool
L3 7DY

t. 01395 275 691
auctions@countrywide.co.uk

Full Description

Location

Torquay is a busy town on the South Devon coast, forming part of the Borough of Torbay, alongside the towns of Paignton and Brixham. The town benefits from a busy shopping area, multiple primary and secondary schools and attractions such as Living Coasts and Babbacombe Model Village. The town hosts many sandy beaches and is famed for its warm climate.

Accommodation

Ground Floor

Commercial shop area with storage areas at the rear, drinks making area and WC. Access to the rear of the building via a fire escape.

Upper Floors

Three flats being away on 199 year leases, with each flat contributing 25% of the service and maintenance charges.

Notes

All viewings must be accompanied by a staff member from Miller Countrywide and are to not cause disruption to the daily running of the leased business. For further information on ground rent and maintenance charges, please refer to the legal pack.

EPC

Non Domestic Energy Efficiency Rating - C

Auction Valuer

Lucy Fuller

Viewing Arrangements

Strictly by pre arranged appointment only with Miller Countrywide Torquay 01803 291429. General enquiries Countrywide Property Auctions 01395 275691.

Due to Covid-19, our auction will be live streamed only on 2nd April 2020 at 1pm and all bidders will need to register for remote bidding. There will be no in room bidding. Bidding forms are available from the auctioneers website. Bidders can register to bid remotely up until 12pm on the day before the auction.

GUIDE PRICES & RESERVE PRICES

Guide Price
An indication of the seller’s current minimum acceptable price at auction. The guide price or range of guide prices is given to assist consumers in deciding whether or not to pursue a purchase. It is usual, but not always the case, that a provisional reserve range is agreed between the seller and the auctioneer at the start of marketing. As the reserve is not fixed at this stage and can be adjusted by the seller at any time up to the day of the auction in the light of interest shown during the marketing period, a guide price is issued. This guide price can be shown in the form of a minimum and maximum price range within which an acceptable sale price (reserve) would fall, or as a single price figure within 10% of which the minimum acceptable price (reserve) would fall. A guide price is different to a reserve price (see separate definition). Both the guide price and the reserve price can be subject to change up to and including the day of the auction.

Reserve Price
The seller’s minimum acceptable price at auction and the figure below which the auctioneer cannot sell. The reserve price is not disclosed and remains confidential between the seller and the auctioneer.

Both the guide price and the reserve price can be subject to change up to and including the day of the auction.

Photos
Map

15 Market Street, Torquay

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Countrywide Property Auctions

Head Office
2 Cotton Street
Liverpool
L3 7DY

Tel: 01395 275 691

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* Guide Price

An indication of the seller’s current minimum acceptable price at auction. The guide price or range of guide prices is given to assist consumers in deciding whether or not to pursue a purchase. It is usual, but not always the case, that a provisional reserve range is agreed between the seller and the auctioneer at the start of marketing. As the reserve is not fixed at this stage and can be adjusted by the seller at any time up to the day of the auction in the light of interest shown during the marketing period, a guide price is issued. This guide price can be shown in the form of a minimum and maximum price range within which an acceptable sale price (reserve) would fall, or as a single price figure within 10% of which the minimum acceptable price (reserve) would fall. A guide price is different to a reserve price (see separate definition). Both the guide price and the reserve price can be subject to change up to and including the day of the auction.

* Reserve Price

The seller’s minimum acceptable price at auction and the figure below which the auctioneer cannot sell. The reserve price is not disclosed and remains confidential between the seller and the auctioneer.

Both the guide price and the reserve price can be subject to change up to and including the day of the auction.

Buyer's Fee

A successful purchaser will also be required to pay a Buyer’s Administration Charge of 1.2% of the purchase price subject to a minimum fee of £1,500 including VAT (unless stated otherwise within the property description in the catalogue) by debit card or bank transfer.

Legal Packs

You are bidding on the basis that you have made all necessary enquiries, particularly in respect of lots the auctioneer has not inspected or had initial sight of tenancy details, and have checked the General and Special Conditions of Sale and are satisfied that you fully understand their content. Please note that some legal packs may contain additional fees (such as the requirement for the seller to pay the vendor's legal fees).