This property is due to feature in our online auction on 18th February 2021 at 6.00pm. Bidding is via proxy, telephone or online remote bidding.
SUBSTANTIAL MIXED-USE INVESTMENT - POTENTIAL RENTAL INCOME OF CIRCA £35,000 PA
A mixed-use investment comprising a well-established ground floor takeaway let on a 15 year term from 2008 at £12.500pa, with a self contained and spacious 4-bedroom maisonette/Licenced HMO above. Two of the bedrooms are currently let at £520pcm & £375pcm respectively, although we would anticipate a market rent of circa £475-£500pcm per room excluding bills for all of the rooms. The property therefore offers the potential to produce a total annual rent of circa £35,000pa when fully occupied.
The property is situated in a central position on the corner of Old Church Road and Lower Queen's Road. Clevedon is conveniently located just off the M5 motorway providing easy access to Bristol and the South-West.
Please refer to floor plan for approximate room measurements and indicative internal layout.
Arranged as a pizzeria takeaway with rear preparation room and WC.
The first floor provides two large bedrooms, a large kitchen and WC. The second floor provides two further double bedrooms and a shower room.
The ground floor is let on a 15 year term from 2008 at £12,500pa on an effectively internal repairing basis.
The two bedrooms to the top floor are currently let on conventional Assured Shorthold Tenancy agreements at £520pcm and £375pcm. The property is licensed for a maximum of 4 households and 5 persons.
Ground Floor: C
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.
The auction will be held online via live video stream with buyers able to bid via telephone, online or by submitting a proxy bid. You will need to complete our remote bidding form, which 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 a cheque/bank transfer for the Preliminary Deposit must be received no later than 24 hours before the date of the auction.
The Preliminary Deposit required for each lot you wish to bid for will be calculated based upon the Guide Price as follows:
£1,000 - £50,000: £2,000
£51,000 - £150,000: £5,000
£151,000 and above: £10,000
If your bid is successful, the balance of the deposit monies and Buyer's Premium (£1,200 inc VAT) must be transferred to our client account within 24 hours of the auction sale. If you are unsuccessful at the auction, your Preliminary Deposit will be returned to you.
Maggs & Allen use all reasonable endeavours 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.