A RARE AND INTERESTING INVESTMENT OPPORTUNITY CLOSE TO HONITON TOWN CENTRE
Land with Store and 2 Parking Spaces, Honiton, EX14 1PG
- 1
Key features
Guide Price: *
£9,000
Fees apply
Buyer's fee:£900
All fees include VAT at 20%
Holding Deposit: *£1,400
*Only charged if you are the successful buyer and goes towards the purchase price
Auction Type:
† Traditional
Opening bid:
£9,000Bid history
0 bidsAn unusual opportunity to acquire a conveniently situated parcel of land comprising two off-road parking spaces together with a brick-built storage building, positioned along Silver Street, within easy reach of Honiton town centre and its excellent range of amenities.
Currently let and producing a combined rental income of £490 per annum, the property offers an appealing, low-maintenance investment opportunity for those seeking an established income stream. Equally, the parking spaces and storage building may appeal to purchasers requiring facilities for their own use or those looking to explore opportunities to enhance future rental returns, subject to obtaining vacant possession and any necessary consents.
Alternatively, prospective purchasers may wish to explore the possibility of renewing the existing lease agreement with the current tenants, with preliminary discussions having already taken place and a revised annual rental figure of £1,250 having been suggested. This could represent an attractive opportunity to significantly enhance the property's investment return, although no agreement has yet been formalised (prospective purchasers are advised to refer to the auction legal pack for further information regarding the existing tenancy arrangements and proposed lease renewal).
TENURE
Freehold subject to tenancy.
TENANCY
Let on a 3 year lease dated from 22nd October 1987 (within the 1954 Landlord and Tenant Act) with current rents received of £490 pa payable quarterly of £122.50 on usual quarter days. Provisional agreement reached to increase the rent by way of an new lease at £1,250pa in early 2026 but this has not yet been completed. The buyer could progress this following completion. Please refer to the auction legal pack.
EPC
Rating: n/a
WHAT3WORDS
///proven.action.slips
VIEWINGS
Applicants may view on site at all reasonable times and entirely at their own risk.
IMPORTANT INFORMATION
All lots are sold subject to the Common Auction Conditions and Special Conditions of Sale (unless varied by the Sellers Solicitors), together with the Addendum (if applicable), which will be available on Auction Day.
AUCTION LEGAL PACK & FINANCE
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. It is the purchaser’s responsibility to make all necessary legal, planning and finance enquiries prior to the auction.
PRICE INFORMATION
Guides are provided as an indication of each Seller’s minimum expectation. They are not necessarily figures at which a property will sell for and may change at any time prior to Auction. Unless stated otherwise, each Lot will be offered subject to a reserve price (a figure below which the Auctioneer cannot sell the Lot during the Auction). This reserve figure cannot be higher than 10% above a single figure guide. Please check our website regularly at www.247propertyauctions.co.uk or contact us on 01395 247000 for up to date information. At the fall of the hammer contracts are exchanged and there is no going back!
AUCTIONEERS NOTES
- Please refer to all legal documents for this Lot in case any additional fees and reimbursements are listed in addition to the purchase price.
- It is the purchaser’s responsibility to make all necessary legal, planning, survey and finance enquiries prior to the auction.
An unusual opportunity to acquire a conveniently situated parcel of land comprising two off-road parking spaces together with a brick-built storage building, positioned along Silver Street, within easy reach of Honiton town centre and its excellent range of amenities.
Currently let and producing a combined rental income of £490 per annum, the property offers an appealing, low-maintenance investment opportunity for those seeking an established income stream. Equally, the parking spaces and storage building may appeal to purchasers requiring facilities for their own use or those looking to explore opportunities to enhance future rental returns, subject to obtaining vacant possession and any necessary consents.
Alternatively, prospective purchasers may wish to explore the possibility of renewing the existing lease agreement with the current tenants, with preliminary discussions having already taken place and a revised annual rental figure of £1,250 having been suggested. This could represent an attractive opportunity to significantly enhance the property's investment return, although no agreement has yet been formalised (prospective purchasers are advised to refer to the auction legal pack for further information regarding the existing tenancy arrangements and proposed lease renewal).
TENURE
Freehold subject to tenancy.
TENANCY
Let on a 3 year lease dated from 22nd October 1987 (within the 1954 Landlord and Tenant Act) with current rents received of £490 pa payable quarterly of £122.50 on usual quarter days. Provisional agreement reached to increase the rent by way of an new lease at £1,250pa in early 2026 but this has not yet been completed. The buyer could progress this following completion. Please refer to the auction legal pack.
EPC
Rating: n/a
WHAT3WORDS
///proven.action.slips
VIEWINGS
Applicants may view on site at all reasonable times and entirely at their own risk.
IMPORTANT INFORMATION
All lots are sold subject to the Common Auction Conditions and Special Conditions of Sale (unless varied by the Sellers Solicitors), together with the Addendum (if applicable), which will be available on Auction Day.
AUCTION LEGAL PACK & FINANCE
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. It is the purchaser’s responsibility to make all necessary legal, planning and finance enquiries prior to the auction.
PRICE INFORMATION
Guides are provided as an indication of each Seller’s minimum expectation. They are not necessarily figures at which a property will sell for and may change at any time prior to Auction. Unless stated otherwise, each Lot will be offered subject to a reserve price (a figure below which the Auctioneer cannot sell the Lot during the Auction). This reserve figure cannot be higher than 10% above a single figure guide. Please check our website regularly at www.247propertyauctions.co.uk or contact us on 01395 247000 for up to date information. At the fall of the hammer contracts are exchanged and there is no going back!
AUCTIONEERS NOTES
- Please refer to all legal documents for this Lot in case any additional fees and reimbursements are listed in addition to the purchase price.
- It is the purchaser’s responsibility to make all necessary legal, planning, survey and finance enquiries prior to the auction.
Summary
- Auction end
- 26th Jan at 12:00
- Property type
- Land
- Tenure
- Freehold
- Council tax band
- Ask Agent
Guide Price: *
£9,000
Fees apply
Buyer's fee:£900
All fees include VAT at 20%
Holding Deposit: *£1,400
*Only charged if you are the successful buyer and goes towards the purchase price
Auction Type:
† Traditional
Opening bid:
£9,000Bid history
0 bidsSummary
- Auction end
- 26th Jan at 12:00
- Property type
- Land
- Tenure
- Freehold
- Council tax band
- Ask Agent
This property is being sold by:
247 Property Auctions
01395247000
info@247propertyauctions.co.uk
†Traditional auction
Exchange occurs at the end of the auction. This means that if the reserve is met or exceeded and the auction timer reaches zero, the successful bidder is legally obliged to pay the purchase price and the seller will be legally obliged to sell the property. To ensure that the successful bidder proceeds, the buyer is automatically charged a holding deposit, which is held in a secure client account, pursuant to the terms of a holding deposit agreement.
* Pricing Information
The Guide Price amount specified is an indication of each seller's minimum expectation. It is not necessarily the amount at which the property will sell. Each property will be offered subject to a Reserve (a figure below which the property will not be sold) which we expect will be set no more than 10% above the Guide Price amount.
Bamboo Proptech and 247 Property Auctions shall not be liable for any inaccuracies in the fees stated on this description page, in the bidding confirmation pop up or in the particulars. Buyers should check the contents of the legal pack and special conditions for accurate information on fees. Where there is a conflict between the fees stated in the particulars, the bid information box above or the bidding confirmation pop up and the contents of the legal pack, the contents of the legal pack shall prevail.
Stamp Duty Land Tax or Land and Buildings Transaction Tax may also apply in some circumstances.
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Disclaimer
All information relating to this property, including descriptions, pictures and other related information has been provided by 247 Property Auctions. All legal documents in relation to this property have been provided by the Vendor's solicitor. Neither Bamboo Proptech or any individual in employment with Bamboo Proptech makes any warranty as to the accuracy or completeness of any of the property information.
These particulars do not form part of any contract or offer. Buyers should not rely on them as statements of representation and should check that the information is correct by inspection or otherwise. Where there is a conflict between the contents of the legal documents and these particulars, the information contained in the legal documents shall prevail.
Pursuant to the Auctioneer Act 1845, this auction is being conducted by the auctioneer stated above. All participants in this online auction shall note that both the Auctions (Bidding Agreements) Act 1927 and 1969 shall apply.
Where stated in the bid box above, you agree that Bamboo may pre-authorise your card for the amount of the Buyer's fee and Deposit. You will only be charged if you are the winning buyer. We will release the pre-authorisation at the end of the auction. You card issuer may take up to 10 working days for this amount to be available to you in your account.