Victoria Street, Burnham-on-Sea

For Sale
£175000

Overview

*** Online Auction of Freehold of Cafe & First Floor Flat Generating an Excellent Yield 4/10/21 12.00***


Occupying a near central and level location within Burnham-on-Sea Town Centre amongst a variety of commercial users, a short walk from the seafront.


A freehold investment property For Sale offering an excellent yield from purchase with tenants in situ.


Consisting a lock-up Cafe with A3 classification plus one Bedroom first floor flat generating a total income of £15,000 p.a. gross.


Cafe is let until end of November 2024 & Flat on a minimum six month tenancy from 29/8/21.


https://list.gotoproperties.co.uk/lot/details/52479


Services:


Mains electricity, water and drainage


Cafe Rateable Value: £6700 - from 81.7 sq metres total calculated space.


First Floor Flat:


Accessed from metal staircase from rear courtyard.


Hall: Access to all rooms.


Bedroom 5.737 x 2.738 Double glazed window.


Bathroom: 2.683 x 1.634 White suite consisting panel bath, low level WC & pedestal wash hand basin. Extractor, ladder style radiator.


Kitchen: 2.553 x 2.292 Range of base & eye level units finished in Ash, Logik electric oven & hob, space for washing machine & fridge/freezer.


Living Room: 4.751 x 3.749 Double glazed windows to front aspect with sea views.


Outside: Patio area to rear of property.


Note: With the appropriate permissions it may be possible to convert the flat into two bedrooms & generating a higher rent.


Cafe: Interior 11 tables of 4 plus outside seating area. Rear Kitchen, commercial entrance & W.C. Public access from front.


Being Sold by GOTO Online Auction: https://list.gotoproperties.co.uk/


Starting Bids from: £175,000


Buy it now option available


Please call or visit Online Auctions for more information. https://list.gotoproperties.co.uk/


This property is for sale by Online Auction. The Online Modern Method of Auction is a flexible buyer friendly method of purchase. The purchaser will have 56 working days to exchange and complete once the draft contract has been issued by the vendors solicitor. Allowing the additional time to exchange and complete on the property means interested parties can proceed with traditional residential finance. Upon close of a successful auction or if the vendor accepts an offer during the auction, the buyer with be required to put down a non-refundable reservation fee. The fee will be a fixed fee including the Vat, this secures the transaction and takes the property off the market. The buyer will be required to agree to our terms and conditions prior to solicitors being instructed. Copies of the Reservation form and all terms and conditions can be found on the online Auction website or requested from our Auction Department.


Please note this property is subject to an undisclosed Reserve Price which is typically no more than 10% in excess of the Starting Bid. Both the Starting Bid and Reserve Price can be subject to change. Our primary duty of care is to the vendor. Terms and conditions apply to the Modern Method of Auction, which is operated by GOTO Auctions.


To book a viewing visit House Fox Estate Agents.


General Information:


Auctioneer's Comments


This property is for sale by Online Auction which is a flexible and buyer friendly method of purchase. The purchaser will not be exchanging contracts on the fall of the virtual hammer, but will be given 56 working days in which to complete the transaction, from the date the Draft Contract are issued by the seller’s solicitor. By giving a buyer time to exchange contracts on the property, means normal residential finance can be arranged.


The Buyer’s Premium secures the transaction and takes the property off the market. Fees paid to the Auctioneer may be considered as part of the chargeable consideration for the property and be included in the calculation for stamp duty liability. Further clarification on this must be sought from your legal representative. The buyer will be required to sign a Reservation form to confirm acceptance of terms prior to solicitors being instructed. Copies of the Reservation form and all terms and conditions can be found in the Info Pack which can be downloaded for free from our website or requested from our Auction Department.


Upon close of a successful auction or if the vendor accepts an offer during the auction, the buyer will be required to make payment of a non-refundable Buyers Premium of £5,400 including VAT plus an administration charge of £354 including VAT, a total of £5,754. This secures the transaction and takes the property off the market.


The Buyer’s Premium and administration charge are in addition to the final negotiated selling price.


Buyer's Administration Charge


If the Buyer Information Pack has been produced and provided by GOTO Group any successful purchaser will be required to pay £354.00 (including VAT) towards the cost of the preparation of the pack. These can then be used by your solicitor to progress the sale.


Buyer Fees


There are no other fees or charges payable to the Auctioneer however, there are other costs to consider such as:


• You will need a Solicitor to act for you during the conveyancing and your Solicitor will advise you in relation to the associated costs. If you do not have a Solicitor, we can recommend the services of one of our Panel Solicitors who are all selected for their expertise in Auction Transactions. Please call the number below for more information.


• Stamp Duty Land Tax (SDLT) is applicable if you buy a property or land over a certain price in England, Wales or Northern Ireland. Please click here for more information.


Details

  • Rooms:
    1
  • Baths:
    1
  • Reception:
    1
  • Price:
    £175000
  • Department:
    Residential Sales

Property Rooms

Room Name: Further Details
Room Description: First Floor Flat:

Accessed from metal staircase from rear courtyard.

Hall: Access to all rooms.

Bedroom 5.737 x 2.738 Double glazed window.

Bathroom: 2.683 x 1.634 White suite consisting panel bath, low level WC & pedestal wash hand basin. Extractor, ladder style radiator.

Kitchen: 2.553 x 2.292 Range of base & eye level units finished in Ash, Logik electric oven & hob, space washing machine & fridge/freezer.

Living Room: 4.751 x 3.749 Double glazed windows to front aspect with sea views.

Outside: Patio area to rear of property.

Note: With the appropriate permissions it may be possible to convert the flat into two bedrooms & generating a higher rent.

Cafe: Interior 11 tables of 4 plus outside seating area. Rear Kitchen, commercial entrance & W.C. Public access from front.

Being Sold by GOTO Online Auction: https://list.gotoproperties.co.uk/

Starting Bids from: £175,000

Buy it now option available

Please call or visit Online Auctions for more information.

This property is for sale by Online Auction. The Online Modern Method of Auction is a flexible buyer friendly method of purchase. The purchaser will have 56 working days to exchange and complete once the draft contract has been issued by the vendors solicitor. Allowing the additional time to exchange and complete on the property means interested parties can proceed with traditional residential finance. Upon close of a successful auction or if the vendor accepts an offer during the auction, the buyer with be required to put down a non-refundable reservation fee. The fee will be a fixed fee including the Vat, this secures the transaction and takes the property off the market. The buyer will be required to agree to our terms and conditions prior to solicitors being instructed. Copies of the Reservation form and all terms and conditions can be found on the online Auction website or requested from our Auction Department.

Please note this property is subject to an undisclosed Reserve Price which is typically no more than 10% in excess of the Starting Bid. Both the Starting Bid and Reserve Price can be subject to change. Our primary duty of care is to the vendor. Terms and conditions apply to the Modern Method of Auction, which is operated by GOTO Auctions.

To book a viewing visit House Fox Estate Agents.






Room Name: General Information:
Room Description: Auctioneer's Comments

This property is for sale by Online Auction which is a flexible and buyer friendly method of purchase. The purchaser will not be exchanging contracts on the fall of the virtual hammer, but will be given 56 working days in which to complete the transaction, from the date the Draft Contract are issued by the seller’s solicitor. By giving a buyer time to exchange contracts on the property, means normal residential finance can be arranged.

The Buyer’s Premium secures the transaction and takes the property off the market. Fees paid to the Auctioneer may be considered as part of the chargeable consideration for the property and be included in the calculation for stamp duty liability. Further clarification on this must be sought from your legal representative. The buyer will be required to sign a Reservation form to confirm acceptance of terms prior to solicitors being instructed. Copies of the Reservation form and all terms and conditions can be found in the Info Pack which can be downloaded for free from our website or requested from our Auction Department.

Upon close of a successful auction or if the vendor accepts an offer during the auction, the buyer will be required to make payment of a non-refundable Buyers Premium of £5,400 including VAT plus an administration charge of £354 including VAT, a total of £5,754. This secures the transaction and takes the property off the market.

The Buyer’s Premium and administration charge are in addition to the final negotiated selling price.

Buyer's Administration Charge

If the Buyer Information Pack has been produced and provided by GOTO Group any successful purchaser will be required to pay £354.00 (including VAT) towards the cost of the preparation of the pack. These can then be used by your solicitor to progress the sale.

Buyer Fees

There are no other fees or charges payable to the Auctioneer however, there are other costs to consider such as:

• You will need a Solicitor to act for you during the conveyancing and your Solicitor will advise you in relation to the associated costs. If you do not have a Solicitor, we can recommend the services of one of our Panel Solicitors who are all selected for their expertise in Auction Transactions. Please call the number below for more information.

• Stamp Duty Land Tax (SDLT) is applicable if you buy a property or land over a certain price in England, Wales or Northern Ireland. Please click here for more information.

Location

Floor Plans

Features

  • Freehold Commercial Property & Flat Above
  • Both Properties Currently Let
  • £6000 Rent P.A. from Flat
  • £9000 Rent per Annum from Cafe
  • Flat Rented from 29/8/21 for 6 Months minimum
  • Cafe Lease runs to end of November 2024
  • EPC Cafe - C
  • EPC Flat - D
  • Being Sold by GOTO Online Auction
  • Buy it Now Feature Available
  • Auction closes 12.00 4/10/21