This property is due to be auctioned on the 24th February 2020 at The Grace Room, The Bristol Pavilion, County Ground, Nevil Road, Bishopston, Bristol at 7pm.
FREEHOLD DEVELOPMENT/INVESTMENT OPPORTUNITY WITH PLANNING GRANTED
The property comprises a substantial freehold corner property comprising two ground floor retail units, one of which is let producing £5,000 per annum and the other is excluded from the sale and will be retained by the seller on a long leasehold basis along with the single storey bait store located in the yard. The property also includes the first floor office space and ancillary accommodation (over 2,000 sq ft), further office space to the rear of the retail units, basement level storage and a rear courtyard. Full planning consent has been granted for the conversion of the first floor offices into 4 self-contained 1-bedroom flats.
The property is situated in a prominent position on the corner of Church Street and Market Street in the centre of Highbridge, a small market town on the edge of the Somerset Levels. Highbridge is located approximately 30 miles south west of Bristol and 7 miles north of Bridgwater.
The proximity to Hinkley Point nuclear power station offers excellent rental and sales potential for the proposed flats.
Ground Floor: Retail and ancillary - 1,095 sq ft (101.7 sq m)
First Floor: Offices and ancillary - 2,042 sq ft (189.7 sq m)
Basement: Storage - 136 sq ft (12.6 sq m)
Full planning consent was granted by Sedgemoor District Council for 'Change of use of existing first floor offices into 4 one-bed flats and alterations to existing shop front to former bank premises' on 09/05/2017 under application no. 11/17/00032. Full plans are available via Sedgemoor District Council's planning portal.
The property is offered for sale on a freehold basis, subject to a lease of the ground floor retail unit to 'Vault of Gold' at £5,000 per annum expiring on 26/02/2020. The lease is excluded from the Landlord & Tenant Act.
The sale excludes 1A Church Street (including bait store in yard) trading as Thyers Fishing Tackle, which the seller will retain on a long leasehold basis at a peppercorn ground rent.
Ms H Jones, Wards
Tel: 01275 850470
Please be advised that all purchasers are subject to a £1,000 plus VAT (£1,200 inc VAT) buyer's premium payable upon exchange of contracts.
Guide Prices are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Each property will be offered subject to Reserve Price (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
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.
If you are unable to attend the auction then you can submit a proxy bid. This will authorise a representative of Maggs & Allen to bid on your behalf up to a pre-set amount. The proxy bidding form is available to download from our website. The completed form, ID (driving licence or passport and a recent utility bill stating the home address of the purchaser) and 2 cheques (one for the 10% deposit and one for the buyer's premium of £1,200 inc VAT) is required by the auction department no later than 4pm on the day of the auction.
If you are intending to bid and are successful, the following will be required:
* Proof of identity (valid passport or photo driving licence).
* Proof of address (bank statement, recent utility bill, council tax bill or tenancy agreement).
* 10% deposit payment.
* Buyer's premium payment.
* Details of your solicitor.
Forms of acceptable payment:
* Bankers Draft
* Debit Card Payment
For card payments:
Please ensure that you advise your bank of the potential payment prior to the auction.
Maggs & Allen use all reasonable endeavors to supply accurate property information in line with the Consumer Protection from Unfair Trading Regulations 2008. These property details do not constitute any part of the offer or contract and all measurements are approximate.
It should not be assumed that this property has all the necessary Planning, Building Regulation or other consents. Any services, appliances and heating system(s) listed have not been checked or tested. Please note that in some instances the photographs may have been taken using a wide angle lens.
Any site and floor plans provided are for indicative purposes only and should not be relied upon.