Bank Lane, Victoria Street, Totnes
Auction Guide Price £350,000 (Tenant Fees)

Situation

A fantastic opportunity to purchase a prime real estate property in the heart of Totnes within easy walking distance of Fore Street, private vehicle parking and courtyard and uninterrupted views across to Sharpham and rolling countryside beyond. Being of stone construction building converted into ground floor commercial accommodation with two residential units above. 10 Bank Lane comprises of a ground floor commercial unit with a series of interlinked rooms, with main staircase to the two residential flats above, while to the front there is a single story commercial studio with steps from the private courtyard and parking area.

Accommodation

Entrance lobby, interconnecting rooms with storage , boiler room and rear room. Central staircase that leads up to the first floor. Flat one consists of a sitting room, bathroom, bedroom and kitchen and balcony over the ground floor studio. Flat two consists of a kitchen sitting room and bathroom and balcony over the ground floor entrance lobby.

Outside

The property has a courtyard area to the front, which has vehicular access from Victoria Street and would make a suitable parking space.

Viewings

Strictly by appointment only through Rendells Estate Agents, Tel: 01626 353881. What3Words: //////stews.laminate.received

Auction Processes and Fees

The property will be offered for sale by Online Traditional Auction (unless sold prior). The auction end date is 17:00hr on Monday 27th October. The vendor reserves the right to withdraw or alter the property for sale prior to the auction end date. The successful purchaser(s) will be liable to pay the sum of £5,000.00. From this a buyer’s fee of £3,600.00 inc. VAT is retained by Rendells/Bamboo as a contribution towards the online platform costs, and £1,400.00 is payable towards the purchase price Immediately after the auction.  An additional administration fee of £1,200.00 inc. VAT will be payable by the successful purchaser immediately after the auction to Rendells Estate Agents. The successful purchaser shall pay the cost of the searches of £1,420.70 inc. VAT immediately after the auction to Rendells Estate Agents.

Deposit Payment

The Seller and Buyer agree that the winning Bidder may transfer the remainder of the 10% deposit (less the amount paid online £1,400.00) within 48 hours of the end of this online auction. Clauses 6.1, 6.2 and 7.1 of the Holding Deposit Agreement shall be read as amended to reflect this accordingly.

Legal Pack

The legal pack is available online to be downloaded (via a tab on the online auction site) whilst a paper copy can be obtained from the Seller's Solicitors (who may charge for this service). This includes the searches and legal documents relating to the property. 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.

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 provision 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.