Located in the town centre of Wellington, this versatile mixed-use property comprising a ground floor takeaway with a spacious maisonette above and behind presents an excellent opportunity for investors or those those looking to operate their own business. The residential accommodation also offers potential for conversion into two self-contained flats, subject to consents.
FOR SALE BY AUCTION -
This property is due to feature in our online auction on XXX at 6.00pm. Bidding is via proxy, telephone or online remote bidding.
VIEWINGS -
By appointment.
SUMMARY -
SUBSTANTIAL MIXED-USE INVESTMENT PROPERTY WITH FURTHER DEVELOPMENT POTENTIAL
DESCRIPTION -
Situated in a prime town centre location, this versatile mixed-use investment property offers an excellent opportunity for investors and owner occupiers. The ground floor features a well-appointed takeaway premises fronting North Street. To the rear of the ground floor, the generous living accommodation includes a kitchen, dining room, two rooms currently used as bedrooms. On the first floor there is a living room, an additional bedroom, and a bathroom. Externally, the property benefits from paved outdoor space, a small yard, and an alleyway leading to a cul-de-sac at the rear, where street parking is available. The property is in need of minor refurbishment and offers potential to reconfigure the residential accommodation into two self-contained residential units whilst retaining the commercial unit, subject to consents.
LOCATION -
Situated in the bustling town centre of Wellington, Somerset, this property enjoys a highly convenient location with excellent access to local amenities. North Street is a well-established area, surrounded by a variety of independent shops, cafés, supermarkets, and essential services, making it an attractive spot for both business and residential use. Wellington offers a thriving community atmosphere, with local markets, schools, and leisure facilities all within easy reach. The town is also well-connected, with regular bus services and easy access to the M5 motorway, providing direct links to Taunton, Exeter, and Bristol.
ACCOMMODATION -
Please refer to floorplan for approximate room measurements and internal layout.
TENURE -
The property is believed to be freehold. Please refer to the legal pack for confirmation.
COMPLETION -
Completion for this lot will be 8 weeks from exchange of contracts or sooner by mutual agreement.
ENERGY PERFORMANCE CERTIFICATE (EPC) -
Rating:
LETTING - WHAT CAN MAGGS & ALLEN ACHIEVE FOR YOU? -
Maggs & Allen's experienced letting team are happy to discuss the rental of this property and can advise on maximising the investment. We offer Full Management, Let Only and Rent Collection Services. Contact Jessica Archer and her team on 0117 9499000 or email lettings@maggsandallen.co.uk.
AUCTION OR BRIDGING FINANCE REQUIRED? -
Do you need a mortgage or loan quickly? Maggs & Allen have specialist Independent Brokers who can arrange residential and commercial finance on all types of property. Contact the Auction Team today to be put through to our mortgage and loan experts on 0117 9734940 or email admin@maggsandallen.co.uk
BUYER'S PREMIUM -
Please be advised that all purchasers are subject to a £1,500 plus VAT (£1,800 inc VAT) buyer’s premium payable upon exchange of contracts.
*GUIDE PRICE -
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. Each property will be offered subject to Reserve Price (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.
RESERVE PRICE -
The seller's minimum acceptable price at auction and the figure below which the auctioneer cannot sell. The reserve price is not disclosed and remains confidential between the seller and the auctioneer. Both the guide price and the reserve price can be subject to change up to and including the day of the auction.
PROXY, TELEPHONE & ONLINE REMOTE BIDDING -
The auction will be held online via live video stream with buyers able to bid via telephone, online or by submitting a proxy bid. You will need to complete our remote bidding form, which is available to download from our website. The completed form, ID (driving licence or passport and a recent utility bill stating the home address of the purchaser) and a bank transfer for the Preliminary Deposit must be received no later than 24 hours before the date of the auction.
PRELIMINARY DEPOSITS -
The Preliminary Deposit required for each lot you wish to bid for will be calculated based upon the Guide Price as follows:
£1,000 - £150,000: £5,000
£151,000 and above: £10,000
If you bid is successful, the balance of the deposit monies and Buyer’s Premium (£1,800 inc VAT) must be transferred to our client account within 24 hours of the auction sale. If you are unsuccessful at the auction, your Preliminary Deposit will be returned to you within 5 working days.
RENTAL ESTIMATES -
All rental estimates are provided in good faith. They should be verified by your own professional advisors prior to a commitment to purchase.
