Maisonette
An investment and development opportunity set in a great location.
This three bedroom apartment has a wealth of character as well as huge potential, and is located within close proximity of the Beach, Lyme Regis.
It has a 165 year lease (extended in 2021) and no service charges, it is well suited to short and long term letting depending on the new investor owner. (Please refer to the legal pack for confirmation on the lease).
One of just two apartments (with their own entrances) occupying this large building. The property covers the whole of the first floor along with an equally sized loft space above. The apartment briefly comprises of its own access, hall, living room, separate kitchen, 3 bedrooms and a bathroom.
Situated in Honiton, a lovely market town ideally located for access to the coast with links to the M5 motorway and Exeter.
The freeholder occupies the flat below, and has previously expressed interest in selling the flat and freehold to the current owner, this option to purchase would offer huge development potential in the future. The property would suit letting out long term but has strong holiday let potential with its easy access to several key resorts in Devon and Dorset.
Further opportunity to purchase the flat below and freehold giving the option to acquire the whole house and potential to reconfigure as required. The ground floor flat also has its own entrance, period features, 2 double bedrooms, lounge, dining room (which could be converted into a third bedroom), direct access to a private garden, garage and outhouse.
Any ground rent and service charge review periods will be confirmed in the lease documents within the legal pack.
Construction Material: Granite or whinstone, as built. Heating: Boiler and radiators, mains gas. Coverage: Broadband - Standard, Ultrafast and Superfast is available in this location. Mobile signal - O2, Vodafone, EE and Three show as available. Satellite and Cable - BT and Sky show as available in this area.
These sales details are awaiting vendor approval.
Leasehold. Vacant possession upon completion.
- Heating Supply: Gas Central
- Electric Supply: Mains Supply
- Water Supply: Mains Supply
- Sewerage Arrangements: Mains Supply
Off Street, Communal, Garage
Auction Details
The sale of this property will take place on the stated date by way of Auction Event and is being sold under an Unconditional sale type.
Binding contracts of sale will be exchanged at the point of sale.
All sales are subject to SDL Property Auctions Buyers Terms. Properties located in Scotland will be subject to applicable Scottish law.
Auction Deposit and Fees
The following deposits and non- refundable auctioneers fees apply:
• 5% deposit (subject to a minimum of £5,000)
• Buyers Fee of 4.8% of the purchase price (subject to a minimum of £6,000 inc. VAT).
The Buyers Fee does not contribute to the purchase price, however it will be taken into account when calculating the Stamp Duty Land Tax for the property (known as Land and Buildings Transaction Tax for properties located in Scotland), because it forms part of the chargeable consideration for the property.
There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.
Additional Information
For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions home page.
This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack (and any applicable Home Report for residential Scottish properties).
Guide Price & Reserve Price
Each property sold is subject to a Reserve Price. The Reserve Price will be within + or - 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.
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