Watermouth Road, Ilfracombe, Devon, EX34

FOR SALE BY ONLINE AUCTION - End of Auction: Wednesday 12th June at 12 noon.

GUIDE PRICE OFFERS IN EXCESS OF £250,000

TO BID, WATCH THIS PROPERTY OR REGISTER YOUR INTEREST VISIT OUR BIDDING PLATFORM BY FOLLOWING THE LINK IN THE PHOTO CAROUSEL.

THE PROPERTY
The property has been used in the past for a variety of purposes including a guest house, restaurant, tea room and in more recent years has been used as a large freehold freehouse/restaurant and a private home. The buiding is now vacant and is in need of some modernisation and renovation works.

Planning permission was granted on 5th December 2023 for the conversion and change of use of the bar and restaurant to form two individual residential apartments thus giving the property plenty of scope for significant redevelopment. The consented planning provides for two large 2 bedroom maisonettes each with their own areas of garden/outside space. There is also potential to obtain consent for the property to become one large single residential dwelling as well if desired but this would require a fresh application to the Local Authority.

At present, the building is arranged with accommodation over three floors. The ground floor is the commercial space and comprises what was a 24 seater restaurant area with a large through bar, with public toilets, a commercial kitchen and freezer room. The private accommodation is located on the upper floors. On the first floor there are three bedrooms (two with en-suite facilities, one with a dressing room), a guest bathroom and to the rear there is a 20ft lounge and a private kitchen. On the top floor level there is a further bedroom/games room with sea views. In total, there is approximately 319m2 (3,434ft2), of floor area within the property. (Floor area taken from the EPC).

In all, the property occupies a large plot of approximately 0.19 acres with amenity spaces immediately adjacent to the building in the form of courtyards, patios and a couple of balconies at the rear. There is a very large albeit steep and overgrown rear garden which extends away from the property and up over the side of the hill. Furthermore, there is a store shed and useful addtional detached single storey office building come store with a wc to the rear as well.

LOCATION
Fronting the main Eastern approach road into the resort of Ilfracombe within the popular hamlet of Hele, the subject premises are in a prime position for passing trade. The property is within a short distance of the picturesque Hele Cove and beach, large public car park and un-restricted parking on the main roadside. The town of Ilfracombe is approximately 1 ½ miles away and offers a host of tourist facilities including beaches, tennis courts, gift shops and of course the harbour. Ilfracombe has undergone much inward investment in recent years including a Wetherspoon’s Public House, a Tesco’s, a Lidl’s and Co-Op supermarkets. The world renowned artist Damien Hirst has given on loan to the town a statue called ‘Verity’ which is located on the pier which has attracted thousands of day visitors to the resort. There are schools for all ages, a Medical Centre and Hospital and the usual facilites you would expect to find in a good-sized town.

Traditional Online Auction Information

Please note: this property is for sale by traditional online auction. This means that exchange will occur when the online timer reaches zero (provided the seller's reserve price has been met or exceeded). The winning buyer will be legally obliged to purchase the property at this price.

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.

Webbers and Bamboo 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 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.

Buyer’s Premium & Other Charges

The winning buyer is charged a sum of £5,000. From this a buyers fee of £3,600 (including VAT) is retained by Webbers/Bamboo Auctions as a contribution towards online platform costs and £1,400 is payable towards the purchase price. On completion the Buyer will pay the sum of £427.12 (including vat) to the Seller’s solicitors in reimbursement of search fees.

SELLER’S SOLICITOR
Holly Durrant
Brewer Harding & Rowe
6 - 8 Caen Street
Braunton
Devon
EX33 1AA

Tel: 01271 818372
Email: holly.durrant@bhrlaw.co.uk