METHOD OF SALE

The property will be offered for sale by Online Traditional Auction (unless sold prior.) The auction end date is Wednesday 24th May 2023 at 5pm.

The vendor reserves the right to withdraw or alter the property for sale prior to the auction end date. The property can be accessed via our website - stags.co.uk.

SITUATION 

This exciting development opportunity is located perfectly to enjoy all that Torquay has to offer and is within a few minutes walk of the fantastic restaurants and bars surrounding the vibrant harbour, yet after a hard day you can relax and enjoy the tranquillity with panoramic views of Tor Bay overlooking the harbour and marina. Torquay is one of three beautiful towns forming the sheltered Tor Bay and is renowned for the warm climate, clear bathing waters and clean air. The local beaches form a golden arc around the bay with shingle coves scattered nearby. The town provides a wonderful quality of life for its residents with excellent shopping, waterside restaurants, a theatre and bars. Internationally renowned water sports are held in the sheltered deep water bay, with the marina providing excellent mooring facilities for luxury yachts and motor cruisers. The area provides many scenic walks along south Devon's coastal footpaths, with local golf courses also nearby. A short distance to the north lies the magnificent Dartmoor National Park. Torquay is well served with direct rail links to the major cities, a motorway network and nearby airport at the Cathedral City of Exeter. 

DESCRIPTION - AUCTION GUIDE £550,000

30, 32 and 34 The Terrace are three Grade II Listed houses, located in Torquay, overlooking the harbour and with the town centre close at hand. The houses date from the early 1800s and have been combined and until recently used as offices for a local law firm. The three houses retain many of their original details, with stone porches and columns, sash windows and cast-iron firstfloor balustrading. Internally, the properties link together, comprising in excess of 10,000 square feet of floor space cross three levels with rooms featuring high-ceilings, ornate cornicing, fireplaces and decorative alcoves, along with two grand staircases. 

The three properties have planning permission to be converted into 12 residential apartments under planning reference P/2020/0999. The properties also have listed building consent under reference P/2020/1000. The planning permission allows for the three buildings to be converted into 12 residential apartments. With the current planning, each building is divided into 3/4 apartments and the majority have private outside space. Overall there are 10 x Two-bedroom, 1 x Three-bedroom, 1 x One-bedroom. 

This is an exciting opportunity to create unique and characterful homes in an attractive seaside setting. 

OUTSIDE 

The three properties face onto the pedestrianised, paved portion of The Terrace with immediate access on foot to all the amenities and transport links on offer in the town and Harbour. There are also three allocated parking spaces at the front of number 34. To the rear of the three properties, there are small areas of courtyard, with steps and high wall boundaries providing privacy and seclusion.

SERVICES 

Mains Water, Drainage and Electricity. 

VIEWINGS 

Strictly by prior appointment with Stags Torquay on 01803 200160. 

DIRECTIONS 

From the Stags office and by car (NB: there are a number of quicker ways to walk from to the harbour/Marina and town centre restaurants,) proceed along the Strand to the clock tower known as the Mallock Memorial. Turn left at the island and proceed up Torwood Street. Take the first left at the traffic lights onto The Terrace. After a short distance 30-34 The Terrace will be found on the right hand side.

PROOF OF INDENTITY

Under Money Laundering Regulations 2017 it is a requirement for Estate Agents to perform due diligence checks on any person that intends to bid at auction. There will be a requirement for all bidders to register via the online sales site and complete the ID checks. There is no charge for registration.

BUYERS & ADMINISTRATION FEE 

The successful purchaser(s) will be liable to pay the sum of £5,000. From this a buyer’s fee of £2,400 inc VAT is retained by Stags/Bamboo as a contribution towards the online platform costs, and £2,600 is payable towards the purchase price.

An additional administration fee of £1,200 inc VAT will be payable by the successful purchaser immediately after the auction. This will be separately invoiced by Stags.

LEGAL PACK

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. Prospective purchasers will need to register with the Bamboo online platform in order to download the legal pack. It is the purchaser’s responsibility to make all necessary enquiries prior to the auction. Prospective purchasers are strongly advised to inspect the legal documentation and to consult legal advice prior to bidding.

SOLICITOR ACTING

Axiom DWFM Limited  

101 Wigmore Street, London, W1U 1FA

Reference: DHK/50003

020 7408 8888 - enquiries@axiomdwfm.com

COMPLETION DATE

The completion date will be as dictated by the solicitor and included in the legal pack.

DEFINITION OF AUCTION AND RESERVE

Guide price(s) are an indication of the seller’s expectation. Reserve price(s) are a figure below which the auctioneer cannot sell the lot at auction. We expect the reserve will be set within the guide range or no more than 10% above a single figure guide. Guide prices may change at any time prior to the auction.

SPECIAL CONDITIONS OF SALE

Particulars, remarks and stipulations contained herein shall be deemed to form part of the special conditions of sale/auction information pack and in case of any inconsistencies the provisions of the latter shall prevail. Special conditions of sale/auction information pack is available online. It is assumed that the Purchaser will have made all necessary enquiries prior to the auction.

BUYERS & ADMINISTRATION FEE

The successful purchaser(s) will be liable to pay the sum of £5,000. From this a buyer’s fee of £2,400 inc VAT is retained by Stags/Bamboo as a contribution towards the online platform costs, and £2,600 is payable towards the purchase price.

An additional administration fee of £1,200 inc VAT will be payable by the successful purchaser immediately after the auction. This will be separately invoiced by Stags.