A substantial mid terrace, mixed-use property (1,853 sq.ft. in total) comprising 2 adjoining vacant retail units with a flat above sold off on a lease with approximately 66 years unexpired.

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Description/Location

Two adjoining, self-contained vacant retail units on Holsworthy's main town square, occupying a prominent and highly visible location. We estimate the rental value for 2 The Square at £8,000pa and 3 The Square at £12,000pa. Lease term of flat: 99 years from 25 March 1991 Ground Rent £50 rising to £150, currently £100 per annum. We understand that the flat has been divided into 3 flats.

Tenure

Freehold

Local Authority

Torridge District Council 01237 428700

Viewing

Charles Darrow Network Auctions on 01271 321122

Accommodation

2 The Square: Ground floor, lock-up shop with a GIA of approximately 586 sq ft. comprising retail sales area - 330 sq ft, secondary sales area/office- 103 sq.ft. storage area - 32 sq.ft. stockroom - 53 sq. ft. ladies and gents w.c.'s area - 68 sq ft EPC Rating D 3 The Square: Retail sales area - 991 sq.ft. rear office - 122 sq.ft. stockroom - 123 sq.ft. kitchen - 31 sq.ft. w.c.

Rent

Current rent £100 per annum Potential rent £20,100 per annum

Virtual Tour

Virtual Tour 2-3 The Square, Holsworthy
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Legal documents

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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.