Mixed Use for auction in Paignton

Description

A prominent Grade II mixed-use freehold investment occupying a corner position at the entrance to Winner Street, fronting the busy Totnes Road. The property comprises a ground-floor retail unit currently occupied as part of a carpeting business, together with a self-contained two-bedroom basement flat accessed via a private gravelled courtyard to the rear. The ground and first floor are commercial offices occupied by a firm of solicitors. The second floor is currently vacant formerly utilised as a 5 bed HMO.

Winner Street is an established secondary retail pitch serving an extensive residential catchment just outside Paignton town centre, with a broad mix of independent traders and professional occupiers.

Basement Flat, 2 Winner Street - current rent £9,600 per annum EPC rating E

Ground & first floor offices - currently rented to Lister Langley Solicitors at £20,000 per annum till November 2029 EPC rating D

Second Floor Rooms - Vacant, formerly used as a 5 bedroom HMO - estimated rent £30,000 per annum

4 Winner Street - Retail premises currently let to DJ Carpets at £7,200 - Holding over EPC rating C

Tenure

Freehold

Occupancy

Vacant posession upon completion

Costs

Auction Details

The sale of this property will take place on the stated date by way of Live streamed auction and is being sold under the Unconditional sale type.

Binding contracts will be exchanged at the point of sale.

All sales are subject to our Common Auction Conditions and Bidder Terms. Properties located in Scotland and Northern Ireland will be subject to applicable local laws.

Auction Deposit and Fees

The following deposits and non- refundable auctioneers fees apply:

• 10% deposit (subject to a minimum of £5,000)

• Buyer’s Fee of £2,100 inc. VAT

There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.

Additional Information

For full details about our auction processes, please refer to the Bidder Terms which can be viewed on our home page.

This explains the types of auction and sale methods we offer, the bidding registration process, your payment obligations, and how to view the Legal Pack (and any applicable home report for residential Scottish properties).

Guide Price & Reserve Price

Each property sold is subject to a Reserve Price. The Reserve Price will be within + or - 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.

General

Note
Please be advised that whilst our joint agent has conducted an inspection, the auctioneers have not personally inspected the property. Prospective buyers are advised to make a viewing enquiry and any other necessary independent enquiries before placing their bid, as this will be binding.