South Molton, Devon

This Freehold property offers a rare opportunity to acquire a double-fronted Ground Floor shop in a prime High Street location, accompanied by a 2 Bedroom flat above. The unit requires renovation and modernisation throughout but benefits from separate access to each property, with individual utility meters. The shop is well-equipped with power, lighting, water and plumbing, making it suitable for a variety of business uses.

The flat spans 2 floors, with the First Floor comprising a Kitchen, Lounge, Bathroom and Bedroom, while the Second Floor provides an additional Bedroom and storage space.

To the rear of the property, there is a courtyard with shared access. Offered for sale with no onward chain, this property presents an excellent investment or development opportunity in a sought after location.

This property is for sale by Modern Method of Auction powered by iamsold LTD - Starting Bid £105,000 plus Reservation Fee.

Auctioneer Comments
This property is for sale by the Modern Method of Auction. Should you view, offer or bid on the property, your information will be shared with the Auctioneer, iamsold Limited.

This method of auction requires both parties to complete the transaction within 56 days of the draft contract for sale being received by the buyers solicitor. This additional time allows buyers to proceed with mortgage finance (subject to lending criteria, affordability and survey).

The buyer is required to sign a reservation agreement and make payment of a non-refundable Reservation Fee. This being 4.5% of the purchase price including VAT, subject to a minimum of £6,600.00 including VAT. The Reservation Fee is paid in addition to the purchase price and will be considered as part of the chargeable consideration for the property in the calculation for stamp duty liability. Buyers will be required to go through an identification verification process with iamsold and provide proof of how the purchase would be funded.

This property has a Buyer Information Pack which is a collection of documents in relation to the property. The documents may not tell you everything you need to know about the property, so you are required to complete your own due diligence before bidding. A sample copy of the Reservation Agreement and terms and conditions are also contained within this pack. The buyer will also make payment of £300 including VAT towards the preparation cost of the pack, where it has been provided by iamsold.

The property is subject to an undisclosed Reserve Price with both the Reserve Price and Starting Bid being subject to change.

Referral Arrangements
The Partner Agent and Auctioneer may recommend the services of third parties to you. Whilst these services are recommended as it is believed they will be of benefit; you are under no obligation to use any of these services and you should always consider your options before services are accepted.

Where services are accepted, the Auctioneer or Partner Agent may receive payment for the recommendation and you will be informed of any referral arrangement and payment prior to any services being taken by you.

South Molton, the gateway to Exmoor, is formed around a pretty central square with impressive historic buildings to either side.

The town is thought to have originated in the Saxon times and has historically been one of much importance. According to historians, the town has been thriving as a market place since the earliest records and residents still celebrate the charters granted by royalty for the market every June.

Originally, much of the town’s wealth is thought to come from the fact that it was an important centre of the UK’s wool trade. You can find out about this and much more by taking the town Heritage Trail or by visiting the award-winning local Museum to find out more.

While the type of markets held at South Molton has changed over the years, they have kept much of their original feel and traditional markets take place twice a week in the main square. The square itself is surrounded by a number of small, independent shops, the fronts of which remain largely unchanged.

The markets are a great way to sample some of the area’s acclaimed local produce, with producers offering everything from home grown vegetables, locally prepared sausages and local fish.

This local produce can also be found at the various eateries in and around the town. South Molton has really built a reputation for the quality of its cafés, the majority of which serve locally sourced food and are wonderful places to stop and refresh while exploring. They are especially welcomed by those who have spent the day on Exmoor, as the town is just on the edge of the National Park.

Directions
Directions to this property can be easily found by using What3words:

From Barnstaple Town proceed along the A361 following signs for South Molton for approximately 10 miles. Upon reaching the roundabout, take the third exit onto Station Road. At the next roundabout, take the second exit onto North Road. Continue for a short distance along North Road as it merges onto Barnstaple Street. Upon entering the town square, 1 King Street will be found on your left hand side with a For Sale board clearly displayed. Parking can be found nearby and an agent will meet you outside the property.