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Commercial Development for sale

28 Waterloo Street, Weston-Super-Mare, BS23

Sold STC £185,000

Property Description

Key features

  • Sold at auction for 246,000
  • Guide Price 185,000+
  • Viewings commence Tue 28th Aug 2:30 - 3:00, for further viewing dates visit the Auction House website
  • Substantial commercial building
  • Ground floor lock-up shop let at 11,000 per annum
  • Upper floors and garage vacant
  • Residential development potential

Full description

Sold at auction for £246,000 * Guide Price £185,000* Substantial part tenanted commercial property with development potential

With the ground floor currently let to a well established hair salon this is a substantial commercial property offering excellent income and development potential. The now vacant upper floors offer potential for conversion to residential use and there is lapsed planning for 4 x 1 bedroom flats. There is also a rear garage/coach house offering further potential.


Key Points

• Substantial commercial property
• Tenanted ground floor shop let at £11,000 pa
• Vacant first and second floor B1 offices
• Believed to be vacant since December 2011
• Lapsed planning for conversion to 4 x 1 bed flats (13/P/0404/F)
• Rear garage coach house (uninspected)
• Believed to have footprint of approx. 16 sqm
• Potential to extend and develop (subject to PP)
• Boulevard/Montpelier Conservation Area
• Close to Weston College Winter Gardens Campus
• Close to Sea Front and Town Centre


Possession

The ground floor is occupied by Bright Hair Salon on an expired 5 year tenancy agreement from 25th March 2010 at £11,000 per annum. The tenants have verbally indicated to the auctioneers that given the strength of their business they would be willing to accept a new 15-20 year tenancy with terms to be agreed with the new owner.

Upper floors and garage sold with vacant possession.


Business Rates

• Ground Floor Rateable value of £13,000 per annum
• First Floor Rateable value of £4,900 per annum
• Second Floor Rateable value of £2,800 per annum
• Upper floors may qualify for small business rate relief


Viewing

Tue 28th Aug 14:30 - 15:00
Thu 30th Aug 14:30 - 15:00
Tue 4th Sept 14:30 - 15:00
Thu 6th Sept 14:30 - 15:00
Tue 11th Sept 14:30 - 15:00
Thu 13th Sept 14:30 - 15:00
Tue 18th Sept 14:30 - 15:00

Please book viewing on the Auction House website


For Sale by Auction

On Thursday 20th September 2018 at 7.00pm
At Ashton Gate Stadium, Winterstoke Road, Bristol BS3 2LQ
Please note the auctioneers have made their best endeavours to disclose all additional fees. Interested parties should refer to the special conditions of sale contained in the Legal Pack for any late amendments or additions to these fees as well as the auction day addendum sheet prior to bidding.


Legal Pack

A full auction legal pack can be downloaded from www.auctionhousebristol.co.uk once available. For further information on the other lots in this auction please visit the website.


Do you need finance?

In most cases there is a lender for nearly every property. We work with several independent brokers and lenders who are specialists in funding properties that are sold at auction. Bristol Mortgage Advice Bureau and Together Finance will be available for appointments either in or offices or a location of your choosing in the run up to the auction as well as being there on the night to deal with any last minute enquiries


Need to get the auction pack reviewed?

AH Legals work with a number of solicitors who will review the legal pack for you. Get in touch to find our more.


EPC Rating: On order


Viewings
28 August 14:30 - 15:00
30 August 14:30 - 15:00
4 September 14:30 - 15:00
6 September 14:30 - 15:00
11 September 14:30 - 15:00
13 September 14:30 - 15:00
18 September 14:30 - 15:00

Additional Fees
Administration Charge: 0.3% inc VAT of the purchase price, subject to a minimum of £900 inc VAT, payable on exchange of contracts.
Disbursements: Please see the legal pack for any disbursements listed that may become payable by the purchaser on completion


Floorplans

Map & Street View

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*Guide Price: An indication of a seller's minimum expectation at auction and given as a “Guide Price” or a range of “Guide Prices”. This is not necessarily the figure a property will sell for and is subject to change prior to the auction.

Reserve Price: Each auction property will be subject to a “Reserve Price” below which the property cannot be sold at auction. Normally the “Reserve Price” will be set within the range of “Guide Prices” or no more than 10% above a single “Guide Price.”

Auction Fees: The purchase of this property may include associated fees not listed here, as it is to be sold via auction. To find out more about the fees associated with this property please call Auction House, Bristol & West on 0117 946 4949.


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