102 High Street - Honiton

METHOD OF SALE The property will be offered for sale by Online Traditional Auction (unless sold prior.) The auction end date is Thursday 23rd February 2023 at 5pm. The vendor reserves the right to withdraw or alter the property for sale prior to the auction end date. The property can be accessed via our website stags.co.uk. SITUATION Situated at the centre of the historic High Street, Honiton offers a range of amenities including supermarkets, an out of town retail park and a diverse and interesting range of independent shops. The A30 is easily accessible and provides links to the M5 and A303. Honiton is on the Exeter to London Waterloo line, and the London Paddington line is available from Taunton. Exeter International airport is 12.5 miles away with daily flights to London. A number of popular beaches on the Jurassic Coast, such as Sidmouth and Lyme Regis, are within easy driving distance. DESCRIPTION Fantastic opportunity to acquire the freehold for 102 High Street with the ground floor let to successful and popular bar/restaurant on a 10 year lease with a commencement date 3rd February 2022 at £18,000 per annum + VAT, if applicable and 3 storey apartment above. Please refer to floorplan for room sizes and layout, PDF copies available from the agent. Please follow link to Bruv's Bar webpage for further details and images; https://bruvsbar.com/ PLANNING PERMISSION East Devon District Council granted planning permission on 12th May 2022 for "Change of use of the upper floors from a dwelling to a 7- Bed 'Room Only' Guest House (Use Class C1) Installation of replacement windows and blocking up of one window." Further details and plans can be found on the East Devon District Council planning portal; reference 22/0497/FUL The property has potential to be developed further with conversion of the upper levels into 2 residential flats, subject to the necessary consents. SERVICES It is understood that all mains services are connected including 3 - Phase for use of the bar. PROOF OF INDENTITY Under Money Laundering Regulations 2017 it is a requirement for Estate Agents to perform due diligence checks on any person that intends to bid at auction. There will be a requirement for all bidders to register via the online sales site and complete the ID checks. There is no charge for registration. BUYERS & ADMINISTRATION FEE The successful purchaser(s) will be liable to pay the sum of £5,000. From this a “buyer’s fee” of £2,400 inc VAT is retained by Stags/Bamboo as a contribution towards the online platform costs, and £2,600 is payable towards the purchase price. An additional “administration fee” of £1,200 inc VAT will be payable by the successful purchaser immediately after the auction. This will be separately invoiced by Stags. LEGAL PACK Copies of the legal pack and special conditions of sale are available online to be downloaded, via the tab on the online auction property listing page. Prospective purchasers will need to register with the Bamboo online platform in order to download the legal pack. It is the purchaser’s responsibility to make all necessary enquiries prior to the auction. Prospective purchasers are strongly advised to inspect the legal documentation and to consult legal advice prior to bidding. SOLICITOR ACTING Mr Alister Pilling of Alister Pilling Solicitors 45 Cross St, Camborne. TR14 8ET, UK [email protected] - 01209 613 800 COMPLETION DATE The completion date will be 20 working days after the auction or as dictated by the solicitor. DEFINITION OF AUCTION AND RESERVE Guide price(s) are an indication of the seller’s expectation. Reserve price(s) are a figure below which the auctioneer cannot sell the lot at auction. We expect the reserve will be set within the guide range or no more than 10% above a single figure guide. Guide prices may change at any time prior to the auction. SPECIAL CONDITIONS OF SALE Particulars, remarks and stipulations contained herein shall be deemed to form part of the special conditions of sale/auction information pack and in case of any inconsistencies the provisions of the latter shall prevail. Special conditions of sale/auction information pack is available online. It is assumed that the Purchaser will have made all necessary enquiries prior to the auction.