Offers in excess of

£110,000

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Greenclose Road, Ilfracombe, Devon, EX34

Development plot for sale

Development plot, Auction

Key Features

  • Freehold block of 6 garages
  • Central town location close to the high street
  • All garages currently tenanted with total income of £4,320 per annum
  • Ideal for parking and storage
  • Potential residential development subject to any necessary consent
  • Rare opportunity
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Lee Hussell

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Property Description

FOR SALE BY ONLINE AUCTION - End of Auction: Tuesday 9th April at 12 noon.

GUIDE PRICE OFFERS IN EXCESS OF £110,000

TO BID, WATCH THIS PROPERTY OR REGISTER YOUR INTEREST VISIT OUR BIDDING PLATFORM BY FOLLOWING THE LINK IN THE PHOTO CAROUSEL.

A rare opportunity to purchase a block of 6 single garages situated in a central and convenient location in the centre of the town, literally a stone's throw from the high street, and at the end of a no-through road. The site occupies an area of approximately 141.93m2 (0.035 acres) and is situated at the very end of Greenclose Road. In front of the garages is a hardstanding which provides further off-road parking spaces.

At present, all 6 of the garages are let to different tenants with monthly rents of between £50 - £70. In total, £360 per month is collected thus equating to £4,320 per annum. All garages are let on a basic tenancy agreement, details of which are contained within the auction legal pack. The garages are to be sold with the tenants insitu.

The garages are located in a predominantly residential area of the town where parking can be difficult. The garages also back onto the High Street so owning the block would be a particularly valuable asset for any of the immediate neighbours. Clearly, the garages are suitable for parking and storage.

There is some potential for residential development of the site if desired. The current owners have previously submitted a pre-application enquiry to the Local Authority and a copy of their response is also available within the auction legal pack.

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.

Buyer’s 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 £220.16 (including vat) to the Seller’s solicitors in reimbursement of search fees.

SELLER’S SOLICITOR
Carol Taylor
Brewer Harding & Rowe
6 - 8 Caen Street
Braunton
Devon
EX33 1AA

Tel: 01271 340686
Email: carol.taylor@bhrlaw.co.uk

Key Information

Tenure:

Freehold

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