Withdrawn prior to auction

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Freehold development project comprising a 3 storey former hotel (3,767 sq.ft.) for conversion to 4 spacious apartments (2 x 2 bedroom duplex, 1 x 3 bedroom penthouse and 1 x 1 bedroom duplex). Completion works required, vacant.

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Description/Location

The property is located in a prime position, close to the town centre adjacent to Paignton seafront. We are advised that an extensive programme of improvement work has already been carried under the supervision of building control. We estimate the current GDV of the 4 apartments at £860,000 - £870,000. The excellent location within close proximity of the seafront means the apartments would make an ideal holiday let investment.

Tenure

Freehold

Local Authority

Torbay Council01803 201201www.torbay.gov.uk

Viewing

Please contact Charles Darrow Network Auctions on 01626 330022

Accommodation

Proposed ground floor and first floor: 2 x 2 bedroom duplex apartments each 70 sq.m. and 1 x 1 bedroom duplex apartment 58 sq.m. Proposed second floor: 1 x 3 bedroom penthouse apartment 98 sq.m Outside: Proposed off street parking for 5 vehicles

Virtual Tour

Virtual Tour 2 Garfield Road ground floor
Additional Virtual Tour video

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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.