SOLD FOR £450,000 - A substantial three-storey detached period office building with an additional modern two-storey annexe and a large car park to the side, occupying a generous plot of approx. 0.23 acres. The main building offers potential for a residential conversion to flats, a large single dwelling or HMO use whilst the car park and annexe to the side offer further scope for redevelopment, subject to consents. A superb redevelopment opportunity situated in a central location in Yeovil.
FOR SALE BY AUCTION -
This property is due to feature in our online auction on 14 September 2023 at 6.00pm. Bidding is via proxy, telephone or online remote bidding.
SOLD FOR £450,000 - SUBSTANTIAL PERIOD OFFICE WITH MODERN ANNEXE & LARGE CAR PARK - SCOPE FOR REDEVELOPMENT
A substantial three-storey detached period office building with an additional modern two-storey annexe and a large car park to the side, occupying a generous plot of approx. 0.23 acres. The main building offers potential for a residential conversion to flats, a large single dwelling or HMO use whilst the car park and annexe to the side offer further scope for redevelopment, subject to consents. A superb redevelopment opportunity situated in a central location in Yeovil.
The property is situated on The Avenue just off the A30 in a central location in Yeovil. Easy access is provided to a wide range of local amenities in the centre of Yeovil.
Please refer to floorplan for approximate room measurements and internal layout.
MAIN BUILDING - Approx. 3,402 sq ft (316.2 m²) -
The main building currently comprises office accommodation with additional kitchen, toilet and storage facilities. The accommodation is arranged over three floors and retains a wealth of period features.
ANNEXE - Approx. 1,045 sq ft (97.0 m²) -
The modern two-storey annexe is arranged to provide a garage, six offices and kitchen and toilet facilities.
DEVELOPMENT POTENTIAL -
The property offers potential for a wide range of redevelopment schemes including:
- Conversion of the main building into flats, a single dwelling or HMO.
- Conversion of the modern annexe into a single dwelling or flats.
- The erection of a new terrace of houses or a block of flats on the car park.
- Demolition of all buildings and the erection of a new-build housing scheme.
All of the above potential uses would be subject to obtaining the necessary planning consents and all interested parties should make their own enquiries in this respect.
Understood to be freehold, please refer to the auction legal pack for confirmation.
Completion for this lot will be 8 weeks from exchange of contracts or sooner by mutual agreement.
ENERGY PERFORMANCE CERTIFICATE -
33 The Avenue - E
Secondary Building - E
LETTING - WHAT CAN MAGGS & ALLEN ACHIEVE FOR YOU? -
Maggs & Allen's experienced letting team are happy to discuss the rental of this property and can advise on maximising the investment.
We offer Full Management, Let Only and Rent Collection Services.
Conact Jessica Archer and her team on 0117 9499000 or email email@example.com
AUCTION OR BRIDGING FINANCE REQUIRED? -
Do you need a mortgage or loan quickly?
Maggs & Allen have specialist Independent Brokers who can arrange residential and commercial finance on all types of property.
Contact the Auction Team today to be put through to our mortgage and loan experts on 0117 9734940 or email firstname.lastname@example.org
BUYER'S PREMIUM -
Please be advised that all purchasers are subject to a £1,200 plus VAT (£1,440 inc VAT) buyer’s premium payable upon exchange of contracts.
*GUIDE PRICE -
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.
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.
PROXY, TELEPHONE & ONLINE REMOTE BIDDING -
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 bank transfer for the Preliminary Deposit must be received no later than 24 hours before the date of the auction.
PRELIMINARY DEPOSITS -
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 (£1,440 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.