Hostle Park Road, Ilfracombe, Devon, EX34

FOR SALE BY ONLINE AUCTION - End of Auction: Wednesday 25th September at 12 noon

Guide Price: 'Offers in excess of £350,000'

To view the Auction Legal Pack or to BID, please click on the link in the photo carousel.

Situated in a convenient town centre location, just off the high street and close to all of the local amenities, this substantial block of garages and workshops and an area of garden occupies a total site area of 0.28 acres. There are 28 units within the complex in total with the vast majority of those units occupied by tenants which gives a total gross income in the region of £30,000 per annum. There is further, more detailed information on the current tenancies available within the Auction Legal Pack.

The site is set up in three sections and comprises Hostle Park Garages, Portland Mews and the area of garden to the rear. Portland Mews comprises 16 single lock-up garages together with a larger two storey workshop which is divided into two separate letting units. Portland Mews is made up of 8 single lock-up garages and a further 4 workshops which are split over two storey accommodation. The area of garden which sits to the rear of the site amounts to 0.04 acres and measures approximately 29.4m (96ft) long by 5.43m (18ft) wide. At present, the garden area is a well stocked and enclosed but can only be accessed via one of the larger workshops.

The garage units are all fairly standard sized garages. The larger workshop units are much bigger and offer excellent space for a wide variety of different pursuits and activities. Recently, one of the larger ground floor units was used as a car mechanic's workshop.

This substantial block represents an extremely rare opportunity to purchase an excellent investment but there is also considerable scope and potential for future development of the site, subject to planning permission and any other relevant consents. It is considered that the site is large enough to build a mews style residential housing development, as an example.

Services to the site currently include mains electricity, water and drainage. Please note not all of the garages/units benefit from access to these services.

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.

Buyers Premium & Other Charges

The winning buyer is charged a sum of £5,000. From this a buyers fee of £3,960 (including VAT) is retained by Webbers/Bamboo Auctions as a contribution towards online platform costs and £1,040 is payable towards the purchase price. On completion the Buyer will pay to the Seller’s solicitors the sum of £434.25 (inc vat) for reimbursement of search fees and £120 (inc vat) for the engrossment fee.

SELLER'S SOLICITOR

Stuart Tansley
Brewer Harding & Rowe
6 - 8 Caen Street
Braunton
Devon
EX33 1AA

Email: stuart.tansley@bhrlaw.co.uk
Tel: 01271 340893