6 bedroom property for sale
Key information
Property description & features
- Tenure: Freehold
- For Sale by Auction
- 25th April 2024
- The Royal Bath & West Showground from 12pm
- Grade II listed
- Gross Rent - £49,440 per annum
- Gross Yield - 14.54%
- Popular location just off the main High Street
- High yielding mixed use investment property
Preliminary Details - more information to follow
Multi-let mixed use freehold investment property comprising ground floor restaurant (business not affected) and 3no. flats. Gross Rent - £49,440 per annum / Gross Yield - 14.54%. Grade II Listed
Accommodation Sq M Sq Ft
17-19 – Ground Floor Cafe 66.64 / 717
17A – 3-bed maisonette 97 / 1,044
17B – 1-bed ground floor flat 36 / 388
19A – 1-bed maisonette 67 / 721
19B – 1-bed ground floor flat 41 / 441
Total Residential Accommodation 241 / 2,594
Combined Retail and Residential 307.64m2/ 3,311ft2
Areas from VOA and EPCs and subject to onsite verification.
Tenancy Information
Café is let from September 2022 to a private individual trading as Timos Café on a 7-year internal repairing (plus shopfront) term at an initial rent of £14,400 per annum, exclusive. Tenant-only break-clause (subject to conditions) and upward-only rent review at the second anniversary. Understood to ‘Contracted Out’.
17A – Let to two private individuals from 24th September 2022 at an initial rent of £845 per calendar month.
17B – Let to a private individual from 24th February 2024 at an initial rent of £695 per calendar month.
19A – Let to a private individual from 28th February 2024 at an initial rent of £730 per calendar month.
19B – Let to two private individuals from 6th May 2022 at an initial rent of £650 per calendar month.
(£35,040 per annum from the residential.)
Planning
We understand the property is Grade II Listed located within the Glastonbury Conservation Area. Further information can be found via the Historic England website, List Entry Number: 1057963
Rights of Way / Flying Freehold
Benefits from vehicular and pedestrian rights of way over adjoining land – further details available in the legal pack.
Registering to bid and Administration fee
Cooper and Tanner requires all bidders who wish to bid at our Auction to register beforehand, whether you are intending on bidding in the room, by proxy or online. As part of the registration process, you will be asked to provide card details in order that the Buyer’s Administration Fee of £1350 inc VAT can be paid if you are successful. A week before the auction a hold will be placed on your account for this sum, which will then be released if you are unsuccessful. This fee will only be taken if you are the successful buyer. The fee is retained by Cooper and Tanner and does not form part of your deposit or completion settlement. Please also be aware that the Buyer’s Administration fee is payable per lot purchased and applicable to all pre-auction sales. If you are successful in purchasing more than one lot, we will contact you following the auction to take subsequent payments for additional lots bought. All checks required by current anti-money laundering legislation must be satisfactorily completed, as part of the registration process before prior approval to bid will be granted; this will include providing proof of funds.
Deposit
Successful bidders will be required to pay to the Cooper and Tanner Client Account the deposit of 10% of the purchase price within 24 hours of the auction. The account details will be provided to the successful bidder on conclusion of the auction. Once funds are cleared, they will be transferred on to the account of the solicitor acting for the seller. Please ensure that funds are in an account suitable to be able to make an Electronic Transfer from.
Solicitors
Chubb Bulleid, Wells
Laura Maden acting
Telephone:[use Contact Agent Button]
Local Council: Somerset Council. Telephone:[use Contact Agent Button]
Drainage Rates: None.
Services: Potential purchasers are advised to make their own enquiries into the adequacy and availability of any services.
Tenure: Freehold subject to leases.
VAT: The purchase price is not subject to VAT
Completion
Completion has been set for 23rd May 2024 or earlier by arrangement.
Viewing: Strictly by appointment only. Please contact 01458 834 (option 2) for available viewing dates.
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Broadband availability and predicted speed: obtained from Ofcom on September 14, 2023
Broadband speed is measured in megabits per second, with the number returned showing how fast the connection is. Each reading is based on the highest predicted speed of any major broadband network for services that deliver the download speeds. The following are the different readings that we may display:
Basic: Up to 30 Mbit/s
Super-fast: Between 30 Mbit/s and 300 Mbit/s
Ultra-fast: Over 300 Mbit/s
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Mobile phone signal availability and predicted strength: obtained from Ofcom on September 14, 2023
Mobile signal predictions are provided by the four UK mobile network operators: EE, O2, Three and Vodafone. Predictions can vary significantly from the coverage you may actually experience as a result of local factors (especially terrain). Ofcom has tested the actual coverage provided in various locations around the UK to help ensure that these predictions are reasonable. The values shown against a property can be broken down as follows:
Clear: No bars, no signal predicted
Red: One bar, reliable signal unlikely
Amber: Two bars, may experience problems with connectivity
Green: Three bars, likely to have good coverage and receive a data rate to support basic web services
Enhanced: Full bars, likely to have good coverage indoors and to receive an enhanced data rate to support multimedia services
Energy Performance data and Internal floor area
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