Property description
For sale by public auction. Tuesday 26th July 2016, 7pm. Wells Golf Club, Wells. Auction Guide Price £250,000 to £275,000* A mixed use investment opportunity set within the centre of the town.
Set in a prominent position within the centre of the town is this substantial period property that offers a good investment opportunity. Currently it is arranged into three commercial premises, all with good high street frontage and the benefit of storage to the rear, and then two apartments over.
The commercial premises comprise:
25 High Street - Banana Blue's: A hairdressing salon with an open plan salon, store room, staff area and WC. It benefits from access to the front and rear. 43.23m2 (including store and excluding staff area)
27 High Street - Fone Solutions: A mobile phone accessories shop. Entrance from the front and also access through the residential hallway to the rear where there is a staff WC. 12.81 m2
29 High Street - Johnsons Dry Cleaners (currently vacant): An open plan retail area with staff facilities and WC to the rear. Again, access from the front and rear. 72.14m2 (excluding staff area)
The residential element comprises:
Entrance from the courtyard to the rear into a large communal entrance hall. Stairs rising to the first floor.
Flat 25a
A spacious flat with an open plan kitchen/living space, two double bedrooms, bathroom and entrance hall.
Flat 25b
A one bedroom flat with sitting room, kitchen and bathroom. In addition there is an upper floor which is accessed through this flat but has not formed part of the accommodation but could be incorporated to create much larger living space.
Outside
Adjoining the property to the rear is a large outbuilding which has been divided into three separate units which are let to each of the commercial premises.
* 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 :
- Mixed use
- Two residential units
- Three commercial premises
- Grade II listed building
- In need of some improvement