MIXED COMMERCIAL AND RESDIENTIAL INVESTMENT PROPERTY
The Avenue, Minehead, TA24 5AY
- 1
Key features
Guide Price: *
£325,000
Fees apply
Buyer's fee:£3,600
Admin fee:£1,140
All fees include VAT at 20%
Holding Deposit: *£1,400
*Only charged if you are the successful buyer and goes towards the purchase price
Auction Type:
† Traditional
Opening bid:
£325,000Bid history
0 bidsA rare opportunity to acquire a prominently positioned freehold property situated within the heart of the busy seaside town of Minehead, close to a variety of national and independent retailers, cafés and amenities.
The building comprises two ground floor commercial units, let to established take-away/restaurants, with a self-contained maisonette let on an Assured Shorthold Tenancy, arranged over the upper parts. This well presented property now offers scope for a variety of potential uses including continued commercial occupation, mixed-use investment, or perhaps reconfiguration of the upper accommodation, subject to all necessary consents being obtainable.
Properties in this established trading location are rarely available and the sale therefore represents an attractive opportunity for investor seeking a well-located freehold asset within a popular coastal town.
ACCOMMODATION
COMMERCIAL
Fish & Chips: Ground floor: Servery, commercial cooking kitchen, restaurant, WC's, storage/office, preparation and storage room.
Ziangs: Ground floor: Restaurant, commercial kitchen leading to storage areas, walk-in refrigeration units, office, storage room, WC's.
RESIDENTIAL
First floor: Accessed from rear via external staircase. Private flat entrance, hallway, kitchen, living room, dining room.
Second floor: Landing, two bedrooms, bathroom/WC.
OUTSIDE
A large garden to the rear of the property that would benefit from a programme of landscaping.
TENANCY INFORMATION
COMMERCIAL
Two occupation leases:
- Ziangs restaurant: 5-year lease from 21st October 2021 with current rents reserved of £15,000 per annum.
- Fish & Chip restaurant: 22nd July 2021 with current rents reserved of £13,200 per annum.
RESIDENTIAL
Subject to an assured shorthold tenancy agreement with current rents reserved of £500 per calendar month. Please refer to auction legal pack for further information.
LOCATION
The property occupies a central position along The Avenue, the town’s principal retail and commercial thoroughfare, benefiting from strong footfall throughout the year driven by both the resident population and the town’s thriving tourism sector. Minehead is well known as the gateway to Exmoor National Park and remains one of West Somerset’s most popular coastal destinations.
A rare opportunity to acquire a prominently positioned freehold property situated within the heart of the busy seaside town of Minehead, close to a variety of national and independent retailers, cafés and amenities.
The building comprises two ground floor commercial units, let to established take-away/restaurants, with a self-contained maisonette let on an Assured Shorthold Tenancy, arranged over the upper parts. This well presented property now offers scope for a variety of potential uses including continued commercial occupation, mixed-use investment, or perhaps reconfiguration of the upper accommodation, subject to all necessary consents being obtainable.
Properties in this established trading location are rarely available and the sale therefore represents an attractive opportunity for investor seeking a well-located freehold asset within a popular coastal town.
ACCOMMODATION
COMMERCIAL
Fish & Chips: Ground floor: Servery, commercial cooking kitchen, restaurant, WC's, storage/office, preparation and storage room.
Ziangs: Ground floor: Restaurant, commercial kitchen leading to storage areas, walk-in refrigeration units, office, storage room, WC's.
RESIDENTIAL
First floor: Accessed from rear via external staircase. Private flat entrance, hallway, kitchen, living room, dining room.
Second floor: Landing, two bedrooms, bathroom/WC.
OUTSIDE
A large garden to the rear of the property that would benefit from a programme of landscaping.
TENANCY INFORMATION
COMMERCIAL
Two occupation leases:
- Ziangs restaurant: 5-year lease from 21st October 2021 with current rents reserved of £15,000 per annum.
- Fish & Chip restaurant: 22nd July 2021 with current rents reserved of £13,200 per annum.
RESIDENTIAL
Subject to an assured shorthold tenancy agreement with current rents reserved of £500 per calendar month. Please refer to auction legal pack for further information.
LOCATION
The property occupies a central position along The Avenue, the town’s principal retail and commercial thoroughfare, benefiting from strong footfall throughout the year driven by both the resident population and the town’s thriving tourism sector. Minehead is well known as the gateway to Exmoor National Park and remains one of West Somerset’s most popular coastal destinations.
Summary
- Auction end
- 16th Jun at 11:00
- Property type
- Terraced
- Tenure
- Freehold
- Bedrooms
- 2
- Bathrooms
- 3
- Council tax band
- Ask Agent
Guide Price: *
£325,000
Fees apply
Buyer's fee:£3,600
Admin fee:£1,140
All fees include VAT at 20%
Holding Deposit: *£1,400
*Only charged if you are the successful buyer and goes towards the purchase price
Auction Type:
† Traditional
Opening bid:
£325,000Bid history
0 bidsSummary
- Auction end
- 16th Jun at 11:00
- Property type
- Terraced
- Tenure
- Freehold
- Bedrooms
- 2
- Bathrooms
- 3
- Council tax band
- Ask Agent
This property is being sold by:
247 Property Auctions
01395247000
info@247propertyauctions.co.uk
†Traditional auction
Exchange occurs at the end of the auction. This means that if the reserve is met or exceeded and the auction timer reaches zero, the successful bidder is legally obliged to pay the purchase price and the seller will be legally obliged to sell the property. To ensure that the successful bidder proceeds, the buyer is automatically charged a holding deposit, which is held in a secure client account, pursuant to the terms of a holding deposit agreement.
* 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.
Bamboo Proptech and 247 Property 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 above 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.
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Disclaimer
All information relating to this property, including descriptions, pictures and other related information has been provided by 247 Property Auctions. All legal documents in relation to this property have been provided by the Vendor's solicitor. Neither Bamboo Proptech or any individual in employment with Bamboo Proptech makes any warranty as to the accuracy or completeness of any of the property information.
These particulars do not form part of any contract or offer. Buyers should not rely on them as statements of representation and should check that the information is correct by inspection or otherwise. Where there is a conflict between the contents of the legal documents and these particulars, the information contained in the legal documents shall prevail.
Pursuant to the Auctioneer Act 1845, this auction is being conducted by the auctioneer stated above. All participants in this online auction shall note that both the Auctions (Bidding Agreements) Act 1927 and 1969 shall apply.
Where stated in the bid box above, you agree that Bamboo may pre-authorise your card for the amount of the Buyer's fee and Deposit. You will only be charged if you are the winning buyer. We will release the pre-authorisation at the end of the auction. You card issuer may take up to 10 working days for this amount to be available to you in your account.
