Sold for £158,500

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A freehold mixed use investment comprising ground floor retail unit (let) with 2 x self-contained studio flats (vacant) across the first and second floors.

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Description/Location

The ground floor is currently let to a hairdressing salon on a new 5 year lease commencing February 2022 at £5,520 pa. The flats were recently let but are currently vacant, we estimate the rental value of the flats is £500 pcm each.

Tenure

Freehold

Local Authority

Teignbridge District Council

Viewing

Please contact Charles Darrow Network Auctions on 01626 330022

Accommodation

Ground floor: Shop with kitchen and w.c. First floor: Flat comprising living room, kitchen and bathroom Second floor: Flat comprising living room, kitchen and bathroom Third floor: Attic space Outside: Rear courtyard

Rent

ERV: £17,000 pa

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*Guide Price & Reserves

Generally speaking 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. Virtually every property will be offered subject to a Reserve (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.

The “Important Notes For Auction Buyers” at the front of the catalogue includes a definition of “Guide Price & Reserve Price”. All properties are subject to a purchaser’s administration fee of £1,500 + VAT unless otherwise stated in the addendum (£420 inc VAT for lots with guide prices up to £3,000). If the purchaser is liable for any further costs these will be stated within the Special Conditions of the legal pack, that have been produced by the seller’s lawyer, a copy of which can be downloaded from our website.