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    Key features

    • Mixed Use Investment/Development Opportunity
    • Retail Unit and Upper Parts
    • Ground Floor Let to Dominos
    • 20 Year Lease (17 Years Unexpired)
    • Lease Expires 19.11.2043
    • Planning Consent for 2 x Flats to Upper Parts
    • Established High Footfall Pitch
    • Investment Let at £31,000 with Planning to Convert Upper Parts

    Description

    The property comprises a mixed-use investment/development opportunity occupying a prominent pitch on a high footfall street.

    Arranged across ground and three upper floors, the property currently comprises a retail unit to the ground floor with vacant upper parts and a large rear car park.

    The ground floor is currently let to DP Realty Limited t/a Domino's on a 20 year lease expiring 19.11.2043 and paying £31,000 per annum. The lease is on full repairing and insuring terms and includes 5-yearly open market rent reviews and a tenants break option 19.11.2033

    The upper parts are currently vacant and benefit from full planning consent to convert to two flats (Ref: 25/2078/FUL) In addition there is a large rear car park.

    The property occupies a prominent pitch fronting Honiton High Street, the principal retail amenity in the town. The surrounding area is characterised by similar mixed-uses with a number of national occupiers including Boots, Specsavers, Holland & Barrett and Clarks.

    Additional information

    Tenure

    Freehold

    Planning

    The property benefits from planning consent (Ref: 25/2078/FUL) for conversion of the upper parts to provide two flats comprising 1 x one bedroom and 1 x two bedrooms with separate rear access and car parking.


    Please see the East Devon District Council Website for more information.

    Rent

    £31,000 per annum

    Notes

    We understand the property is elected for VAT. It is anticipated that the sale will be treated as a Transfer of a Going Concern (TOGC).

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      EPC rating

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      Guide prices and common auction conditions

      •Guide prices given are indications within 10% upwards or downwards of where the reserve price may be set at the time of going to print. Please note they are not an indication of the anticipated sale price or a valuation.

      •The reserve price is the minimum price at which the property can be sold.

      •Both the guide price and reserve price may be subject to change up to and including the day of the auction.

      •For unsold properties after an auction an Available price may be listed. This is the price that the seller(s) are looking for post auction, subject to contract and no higher offers, and has no relation to the guide prices listed prior to the auction sale.

      Please note that all prices listed, whether prior to or post auction, are subject to contract.

      The Auctioneers and sellers accept no responsibility for any loss, cost or damage that a buyer may incur as a result of relying on any guide price. It is the buyer's responsibility to decide how much they should bid for any lot. Please check with us for regular updates as guide prices are subject to change prior to the auction.

      The guide price does not include the buyer's fee charged by the auctioneer or VAT which may apply to the sale or other amounts the seller may charge. The seller's Special Conditions of Sale will state whether there are other seller's charges and whether the seller has elected to charge VAT on the sale price.

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