Property description
For Sale by Public Auction. Tuesday 22nd September 2015, 7pm. Wells Golf Club, Wells. Auction Guide Price £120,000 to £140,000*. A development and investment opportunity located on a charming cobbled street, just off the town centre. Ground floor shop unit with consent to alter the current accommodation above to create two separate residential units. Garden to the rear.
DESCRIPTION 14 Stony Street offers a fantastic opportunity to create a versatile town centre investment opportunity. Located on one of Frome's historic streets, just off the town centre the property now benefits from planning consent and Listed Building consent to separate the retail and residential elements to provide a good sized lockup shop unit with two flats over.
The shop unit benefits from a double fronted shop window with deep display spaces. There are two areas to the retail space and the floor space extends to approximately 45 sqm. There is a door to the rear which leads to a rear lobby and then onto the WC and to the rear.
Currently the upper floors are accessed from the shop area but Planning consent was granted in July 2014, together with Listed Building consent has been granted to reconfigure the space to allow a separate access to be created from the rear of the property. The proposed accommodation would comprise the ground floor shop unit, which will remain largely unchanged. The entrance to the first and second floors would be to the rear of the property, via the passageway to the side. Flat 1 would then comprise a sitting room and kitchen on the first floor, two bedrooms and a shower room on the second floor and then a further bedroom on the third floor. Flat 2 would then offer a bedroom and shower room on the first floor and then an open plan sitting room and kitchen on the second floor.
To the rear of the property is a raised garden area with steps leading up to a timber deck and then on to an area of lawn.
* 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 the case, 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. 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.
Property Features :
- Auction - 22nd September
- Town centre development opportunity
- Ground floor shop unit
- Consent for two flats over
- Garden to the rear