Restaurant/cafe for sale in King Street, Ilfracombe EX34

For sale by online auction

Auction ends Friday 24th of may 2024 at 12 noon

Location

In the ever popular seaside village of Combe Martin, located some four miles east of Ilfracombe and on the Eastern fringe of Exmoor National Park, the property is in a great position for locals and tourists alike. The property is within level walking distance of the sheltered bay at Combe Martin close to the seaside. Nearby traders include a general store, gift shops, newsagents and restaurants. The shop serves the local community and nearby holiday makers who stay at the John Fowler Holiday Park on the approach to the village. Nearby is the village Primary School.

Combe Martin is reputed to have the longest High Street of any village in the United Kingdom which proceeds from the seafront for two miles inland along a sheltered valley. The village has a population of around 2,500 inhabitants and notable properties in the village include the Pack of Cards Public House. The sheltered cove is popular with families providing many rock pools and safe bathing. The bay is also popular for water sports.

The property

The subject premises comprise of a mid-terrace commercial property with the ground floor arranged as a self-contained lock-up shop formerly operating as a bakery and cafe with a retail area in the front of approximately 412 sq ft with the kitchen to the rear providing an L-shaped area of approximately 403 sq ft plus walk-in cold store and steps up to a staff room with cloakroom off and beyond which is a freezer room.
The private accommodation comprises of a fully modernised self-contained two bedroom apartment with its own entrance porch and entrance hall giving access to a first floor landing and to the rear, a well fitted shower room WC and beyond this is a modern kitchen. The first floor landing gives access to the lounge which has a large bay window and off the landing are two bedrooms with the rear bedroom having patio doors onto a flat roof area which could provide a sun terrace, subject to any necessary planning consent.
The property has gas fired radiator central heating, double glazing, is presented in good decorative order throughout and has 2 parking spaces.

The business

This former traditional village bakery had been established for many years and was operating until recently as the only bakery in the village but is now currently vacant. The premises would suit a wide variety of uses, subject to any necessary planning consent.

Proposal

The property will be offered for sale by online auction with a price guide in excess of £200,000. All offers will be considered beforehand.

Solicitors

For the legal pack contact the owners’ solicitors: Messrs bgw Solicitors The Old Exchange, Church Street, Castle Cary BA7 7EJ Libby Stoodley Email: Telephone: 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.

Buyers 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 £479.54 to the Seller’s solicitors in reimbursement of search fees.