FOR SALE BY AUCTION
THURSDAY 12th SEPTEMBER 2019 at THE CORN EXCHANGE, DEVIZES
GUIDE PRICE £170,000+
Old Town investment opportunity comprising café on the ground floor with a 3 bedroom maisonette over. Potential income of about £21,600 or more per annum.
Situation and Description
This substantial 3 storey premises is located in the popular Old Town area of Swindon which has a wide variety of restaurants, cafés and bars as well as enjoying easy access to the M4 motorway, A419 and surrounding areas. Swindon is an expanding town with an extensive range of shopping, leisure and entertainment facilities along with a mainline station in the town centre.
Situated in a prominent position on a busy road the property comprises of the award winning Dotty's Cafe on the ground floor with a separate maisonette over. The maisonette is in need of modernisation but lends itself to being converted to an HMO (subject to consents).
Whilst there is limited road car parking nearby, there are large car parks within walking distance.
The ground floor cafe is let to Dotty's Cafe with the current lease for 7 years commencing 31st July 2015 and an rent of £12,000 per annum. The maisonette above is currently vacant but in good order could achieve a rental income of about £9,600 per annum or possibly more if used as an HMO.
Café comprising seating/dining area, kitchen area and cloakroom. Overall an internal floor area of about 545.51ft (50.68m).
Entrance Hall with staircase off.
Landing with storage cupboard and staircase off.
Sitting Room 16'3"x11'9" (4.95x3.57)
Kitchen 11'10"(max) x8'9"(max) (3.60x2.68) with floor units and wall cupboards.
Bedroom 3 10'8"x9'10" (3.25x3.00) with door to balcony.
Landing with storage cupboard.
Bedroom 1 16'2"x11'9" (4.94x3.57)
Bedroom 2 10'6"x10" (3.20x3.05)
From the top of Victoria Hill proceed along Devizes Road and the property is on the right.
To arrange a viewing, contact: Swindon Office on 01793 683 144.
You can download the legal packs via our website www.strakers.co.uk and going to the auction home page by using the services heading at the top of the page. Click on the light blue tab under the next auction date displayed on the calendar. This will produce a lot list, select a lot of interest, this pulls up further details on the property - on the right under the photos click View Legal Documents - You will need to sign-up by entering your email address and creating a password the first time but this will stay valid for all of our future auctions. The legal pack may not be available straight away, but as long as you have registered to receive it you will be notified as soon as it is available.
Reserve and Guide Price
Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
Telephone and Proxy Bid
If you cannot attend the auction (although we strongly advise you do) you may make a TELEPHONE or PROXY BID. This authorises the auctioneer to bid on your behalf up to a pre-set limit. Forms and relevant conditions are available from the Auctioneers' offices. A completed form and two cheques (one for the 10% deposit (minimum £3,000) and one for the Buyer's Administration Fee of £600 including VAT on Lots sold for less than £99,999 or £1,200 including VAT on Lots sold for £100,000 and above) are required by the Auction Department at least two full working days before the auction. Please telephone the AUCTION OFFICE (01249) 765200 to arrange these.
These particulars, whilst believed to be accurate are set out as a general outline only for guidance and do not constitute any part of an offer or contract. Intending purchasers should not rely on them as statements of representation of fact, but must satisfy themselves by inspection or otherwise as to their accuracy. No person in this firms employment has the authority to make or give any representation or warranty in respect of the property. All measurements and distances are approximate only. Your home is at risk if you do not keep up repayments on a mortgage or other loan secured on it.
Unit B Millgrove House,59 Millgrove Street, Swindon Wiltshire SN25 2FW
01793 683 144