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Their service, from beginning to end of the purchase, was excellent from being shown around the property, then chasing as required, through to a successful completion.
 Mrs Smith

Property

BARNSTAPLE, Devon

On Line Auction £140,000

0 bedrooms | 0 bathrooms | 0 reception rooms
  • For Sale By Traditional Online Auction
  • Bids to be placed by 12 noon, Friday 4th September 2020
  • Town Centre Freehold Investment Opportunity
  • Two Lock Up Vacant Retail Units
  • Generally well presented throughout
  • Two First Floor Flats sold away on long leasehold basis
  • Ideal Investment or for Business Owner Occupation

Tenure: Freehold

This property is being sold by traditional online auction, Contact John Smale & Co Estate Agents or 247 Property Auctions www.247propertyauctions.co.uk for further information.

An excellent investment opportunity to acquire this two storey mid terrace character commercial property briefly comprising two self-contained lock-up retail units being located along a thriving trading street within the heart of Barnstaple’s Town Centre.

You will be also acquiring the Freehold to the whole of the building with the two, first floor flats being sold away on a long leasehold basis. Investors will be drawn to the reversionary interest timescale of the leases due to ever-diminishing years of the leases (refer to legal pack fro further information).

Barnstaple is the main town of North Devon and possibly the oldest borough in the United Kingdom and offers a real attraction to new investment and opportunity with lots of ongoing regeneration.

Accommodation Ground Floor

No 18: Open Plan retail area, office room, storage room. utility area, WC - 55.76sqm (600 SqFt). Trading Area of 81 sqm (878 SqFt).

No 19: Open Plan retail area, utility area, WC - 81sqm (878 SqFt).

FIrst Floor

Two flats sold away on a long leasehold basis

Auction Notes

TRADITIONAL ONLINE AUCTION

We will contact you if you are the successful bidder and will charge you £5,000, of which, at least £2,600 is held in a secure client account as agent for the seller as a holding deposit. You should check the `Buyer Information - Fees` document contained as part of the legal documents for each property which are in a download format at You then have until 12pm UK time the next business day to:
• pay the remainder of 10% of the purchase price; and
• submit all signed sale documentation.
You should contact your solicitor immediately after winning the bid (we will also contact you and your solicitor).
If you do not carry out these steps before 12pm UK time the next business day, you may forfeit the entire amount of the £5,000 holding deposit.

Definition of a Guide Price and a Reserve Price;

Guide Price
An indication of the seller`s current minimum acceptable price at auction. The guide price or range of guide prices is given to assist consumers in deciding whether or not to pursue a purchase. It is usual, but not always, that a provisional reserve range is agreed between the seller and the auctioneer at the start of marketing. As the reserve is not fixed at this stage and can be adjusted by the seller at any time up to the day of the auction in the light of interest shown during the marketing period, a guide price is issued. This guide price can be shown in the form of a minimum and maximum price range within which an acceptable sale price (reserve) would fall, or as a single price figure within 10% of which the minimum acceptable price (reserve) would fall. A guide price is different to a reserve price (see separate definition). Both the guide price and the reserve price can be subject to change up to and including the day of the auction.

Reserve Price
The seller`s minimum acceptable price at auction and the figure below which the auctioneer cannot sell. Bids may be accepted by the system but the property will not sell if the bidding does not reach the reserve. The reserve price is not disclosed and remains confidential between the seller and the auctioneer. Both the guide price and the reserve price can be subject to change up to and including the day of the auction.

For further details about the auction process or to register to place a bid, please visit www.247propertyauctions.co.uk

Notice

Please note we have not tested any apparatus, fixtures, fittings, or services. Interested parties must undertake their own investigation into the working order of these items. All measurements are approximate and photographs provided for guidance only.

*Guide Price/Reserve Price
Guide Price: An indication of a seller's minimum expectation at auction and given as a "Guide Price" or a range of "Guide Prices". This is not necessarily the figure a property will sell for and is subject to change prior to the auction.

Reserve Price: Each auction property will be subject to a "Reserve Price" below which the property cannot be sold at auction. Normally the "Reserve Price" will be set within the range of "Guide Prices" or no more than 10% above a single "Guide Price."

Auction Fees
The purchase of this property may include associated fees not listed here, as it is to be sold via auction. To find out more about the fees associated with this property please call John Smale & Co Estate Agents, Barnstaple on 01271 342000 or 247 Property Auctions on 07488336829.