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£95,000 Guide Price
''To be Sold via On-Line Auction Thursday 3rd July 11:30am'' A rare opportunity to acquire a two storey detached garage and storage building that is centrally located in Exmouth, close to the sea front, and that has approved planning permission to be converted into a 1 bedroom residential dwelling.This property is a stones throw away from the town centre, train station and sea front and could be utilised for alternative schemes - subject to the usual planning consents. The current approved planning allows for the creation of a reverse - level 1 bedroom detached property that has a bedroom and bathroom on the ground floor and an open plan living / dining / kitchen on the first floor. The approved plans can be viewed by visiting EDDC planning portal and searching planning application number 21/3187/FUL (after appeal).
Please visit our auction partners website to register your interest.
Accommodation
Double opening timber doors leading to:
Garage / Store - 221' (6.73m) x 139' (4.19m) : 304 sqft (28.20 sqm)
Obscure glazed window to side. Water tap. Stair case rising to the first floor. Personal door leading out to the outside area. staircase rising to the first floor.
First Floor
Office / Store Area - 2211' (6.99m) x 1410' (4.52m) : 340 sqft (31.59 sqm)
A dual aspect room with windows to front and side. High level electric trip switch fuse box and electric meter.
Exterior
Small amount of outside space to the side and rear of the property
Planning
Planning permission under reference number Appeal Ref: APP/U1105/W/22/3298012 (after original application under reference Ref 21/3187/FUL, dated 7th December 2021 was refused) was issued on the 15th November 2021 by East Devon District Council
Tenure
The property is FREEHOLD
Traditional Auction
Exchange occurs at the end of the auction. This means that if the reserve is met or exceeded and the auction timer reaches zero, the successful bidder is legally obliged to pay the purchase price and the seller will be legally obliged to sell the property. To ensure that the successful bidder proceeds, the buyer is automatically charged a holding deposit, which is held in a secure client account, pursuant to the terms of a holding deposit agreement.
Pricing information
The Guide Price amount specified is an indication of each seller`s minimum expectation. It is not necessarily the amount at which the property will sell. Each property will be offered subject to a Reserve (a figure below which the property will not be sold) which we expect will be set no more than 10% above the Guide Price amount.
Bamboo Auctions and 247 Property Auctions shall not be liable for any inaccuracies in the fees stated on this description page, in the bidding confirmation pop up or in the particulars. Buyers should check the contents of the legal pack and special conditions for accurate information on fees. Where there is a conflict between the fees stated in the particulars, the bid information box above or the bidding confirmation pop up and the contents of the legal pack, the contents of the legal pack shall prevail.
Stamp Duty Land Tax or Land and Buildings Transaction Tax may also apply in some circumstances.
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Disclaimer
All information relating to this property, including descriptions, pictures and other related information has been provided by 247 Property Auctions. All legal documents in relation to this property have been provided by the Vendor`s solicitor. Neither Bamboo Auctions or any individual in employment with Bamboo Auctions makes any warranty as to the accuracy or completeness of any of the property information.
These particulars do not form part of any contract or offer. Buyers should not rely on them as statements of representation and should check that the information is correct by inspection or otherwise. Where there is a conflict between the contents of the legal documents and these particulars, the information contained in the legal documents shall prevail.
Services
Important Information
All lots are sold subject to the Common Auction Conditions and Special Conditions of Sale (unless varied by the Sellers Solicitors), together with the Addendum (if applicable), which will be available on Auction Day.
Auction Legal Pack and Finance
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. It is the purchaser`s responsibility to make all necessary legal, planning and finance enquiries prior to the auction.
Price Information
Guides are provided as an indication of each Seller`s minimum expectation. They are not necessarily figures at which a property will sell for and may change at any time prior to Auction. Unless stated otherwise, each Lot will be offered subject to a reserve price (a figure below which the Auctioneer cannot sell the Lot during the Auction). This reserve figure cannot be higher than 10% above a single figure guide. Please check our website regularly at or contact us on for up to date information. Following the fall of the hammer contracts are exchanged and there is no going back!
Auctioneers Notes
Please check the auction pack and special conditions of sale in particular which may or may not detail additional charges or reimbursement costs being applicable.
Directions
From, our prominent town centre office, on foot, turn left onto Rolle Street and then take the first right into Little Bicton Place. The property will be found situation approximately half way up on the right hand side, clearly identified by our for sale board. .
what3words /// snail.drive.live
Notice
Please note we have not tested any apparatus, fixtures, fittings, or services. Interested parties must undertake their own investigation into the working order of these items. All measurements are approximate and photographs provided for guidance only.
Your property may be repossessed if you do not keep up repayments on your mortgage.
Monthly Payment: £ 8,216.87
Monthly Payment: £ 8,216.87
Monthly Payment: £ 8,216.87
Amortization For Monthly Payment: £8,216.87 over 30 years ( Based on 3.20% Interest )
Using your investment as a 25.00% deposit and £ 5,833 in costs for purchasing and getting ready to let.
Stamp Duty is a tax paid on completion via your solicitor, the calculation includes the 3% surcharge for second homes.
Your home may be repossessed if you do not keep up repayments on your mortgage.
The refurbishment budget is set to 2.50% of the purchase price, but this will vary dependent on the suitability of the property for the rental market. Select a value that you feel is appropriate to the condition of the property.
This will vary between lenders, type of report and whether or not you are buying with a mortgage, for advice on which type of survey would be appropriate speak with an advisor from Preston Baker Financial Services.
Lenders will often charge a fees for the arrangement of a mortgage, for advice on what lenders may charge, speak with an advisor from Preston Baker Financial Services. Your home may be repossessed if you do not keep up repayments on your mortgage.
This is the sum of mortgage admin, land registry, search, bank transfer and any other fees incurred.
Purchase costs include assumed mortgage and survey costs which are estimated. For a quote contact a Preston Baker Financial Services mortgage advisor who can provide you with current and accurate information. The stamp duty calculation has applid the 3% stamp duty surcharge on the basis that this will be a second property.
The mortgage is assumed to be interest only. Your home may be repossessed if you do not keep up repayments on your mortgage.
This is the percentage of the rent that you will spend maintaining the property.
Ground Rent only applies to leasehold properties. This is an assumed ground rent, the confirmed figure can be found in the Property Information Questionnaire.
Service charge only applies to leasehold properties. The correct figure can found in the Property Information Questionnaire answered by the seller.
This is a standard, indicative figure only. Properties that have a service charge often have this included withing that charge. Please consult the Property Information Questionnaire for more information.
Final Equity Profit = Final Property Value - Mortgage Required - Investment
Cumulative Rental Profit = Annual rental profit x Time of Investment
This is the assumed rate of house price inflation.
This is the property value at the end of the investment based on an assumed rate of % house price inflation.
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