Hotel for sale

Marlborough Road, Ilfracombe EX34


£162,500
908 ft²

Features

  • Fully Refurbished Throughout
  • Long leasehold (250y from 2015)
  • No Forward Chain
  • Pair of holiday lets
  • Turn Key Investment
  • Yield of 27% +

Description

Summary

For sale by online auction: Terms and conditions apply.

We are pleased to offer for sale by auction this pair of holiday lets. Excellent opportunity to purchase two apartments, one ground floor apartment & one first floor apartment, on this popular holiday park.

The apartments are of a high quality, with spacious open plan lounge/dining areas and modern fully fitted kitchens. 2 good sized double/ twin bedrooms in each apartment, along with stylish bathroom suites. They both benefit from the use of all park facilities including heated indoor pool with lifeguard and car parking space. Everything present in the apartments is included in the sale: All fixtures, fittings, furniture, white goods, with the exception of bed linen and towels.
Eleven Devon and Ilfracombe-related web domain names are also included in the sale, which enable commission- free bookings.

The apartments are currently run as a holiday letting business generating a good income. Information is available upon request. Approximate return is in the region of 27%. Alternatively a fully managed letting service including cleaning, linen hire and internal maintenance is available from the holiday park management if a hands-off investment is preferred.

Situated only a short distance from Ilfracombe town centre within this holiday park which benefits from many leisure facilities, swimming pool with lifeguard, sauna, car parking, restaurant, bar, kids soft play area, mini golf, launderette all of which are included for guests. The park boasts excellent views across to the channel over to Wales.

Year round holiday let
No chain

Ground rent - 2,000
Service Charge - 7,292 (inclusive of all utilities and maintenance)
Long lease (242 years unexpired)

Please note we have not inspected the subject property.

Location

Situated only a short distance from Ilfracombe town centre within this holiday park which benefits from many leisure facilities, swimming pool, sauna, car parking, restaurant, bar, kids soft play area, mini golf, launderette. From the park are excellent views across to the channel over to Wales.
The subject property is situated 10 miles north of Barnstaple and 55 miles north west of Exeter airport.

Accommodation

First Floor Apartment (42.6 sqm)
Lounge/Dining room 4.04m x 3.38m
Kitchen 2.72m x 1.93m
Bathroom 2.16m x 1.37m
Bedroom 1 2.4m x 3.15m
Bedroom 2 2.41m x 2.97m

Ground Floor Apartment (41.8sqm)
Lounge/Dining room - 3.39m x 5.01m
Kitchen - 2.70m x 1.82m
Bathroom - 2.08m x 1.75m
Bedroom 1 - 2.36m x 3.60m
Bedroom 2 - 2.37m x 3.52m

Tenure

Long Leasehold 250 years from December 2015. Title numbers DN693511 and DN693512.

Income

Annual turnover based on current trading is approximately 50,000 pounds and a gross yield of 27%.

EPC

Available upon request (rating D).

Additional Information

For further information please contact our office direct on , or alternatively via e-mail on . With regards to viewing the subject property, this is to be done strictly by appointment through Keith Pattinson Commercial department. Please contact us to arrange an internal inspection, or to register your interest.

Auctioneers Additional Comments

Pattinson Auction are working in Partnership with the marketing agent on this online auction sale and are referred to below as 'The Auctioneer'.

Please be aware that any enquiry, bid or viewing of the subject property will require your details being shared between both the marketing agent and The Auctioneer in order that all matters can be dealt with effectively.

This auction lot is being sold either under conditional (Modern) or unconditional (Traditional) auction terms and overseen by the auctioneer in partnership with the marketing agent.

The property is available to be viewed strictly by appointment only via the Marketing Agent or The Auctioneer. Bids can be made via The Auctioneers or the Marketing Agents website.

Auctioneers Additional Comments

Your details may be shared with additional service providers via the marketing agent and/or The Auctioneer.

A Legal Pack associated with this particular property is available to view upon request and contains details relevant to the legal documentation enabling all interested parties to make an informed decision prior to bidding. The Legal Pack will also outline the buyers' obligations and sellers' commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding with any property and/or Land Title purchase.

In order to submit a bid upon any property being marketed by The Auctioneer, all bidders/buyers will be required to adhere to a verification of identity process in accordance with Anti Money Laundering procedures.

Auctioneers Additional Comments

In order to secure the property and ensure commitment from the seller, upon agreement of sale, the successful bidder will be expected to pay a non-refundable deposit and or reservation fee of up to 6% inc VAT (subject to a minimum of 6,000 inc VAT) Full terms and conditions are available on The Auctioneers website.

The Reservation Fee is in addition to the agreed purchase price and consideration should be made by the purchaser in relation to any Stamp Duty Land Tax liability associated with overall purchase costs. The Auctioneer may believe it necessary or beneficial to the customer to pass your details to third party service suppliers, from which a referral fee may be obtained. There is no requirement or obligation to use these recommended suppliers or services.

Categories

Hotels
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Property reference
CP_2D853DFE5C_356