Postponed till our next auction on Thursday 22nd September 2022

A landmark building with planning consent for conversion to 24 apartments (5 x 3 bed, 2 x 2 bed + study, 13 x 2 bed, 4 x 1 bed) across 5 floors with a commercial unit (Class A1, 2, 3, & 4) on the ground floor. Vacant.

Description/Location

The building is situated to the west of the city centre in the Devonport district. Planning was granted by Plymouth City Council on 17/01/2018 ref. 17/01770/FUL. The property is in shell condition and listed Grade II, works have commenced at 16 Duke Street and we are advised 50% of the CIL contribution has already been paid. We estimate the GDV of the flats and commercial unit at £4.7m and a potential rent roll of £244,000 pa.

Tenure

Freehold

Local Authority

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Please contact Charles Darrow Network Auctions on 01626 330022

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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.