South Way
Ref: Lot 10
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Unconditional (Buyer's Premium)
UNCONDITIONAL LOT Buyers Premium Applies Upon the fall of the hammer, the Purchaser shall pay a £5,000 or 5% deposit and a 2%+VAT (subject to a minimum of £3,000+VAT) buyers premium and contracts are exchanged. The purchaser is legally bound to buy and the vendor is legally bound to sell the Property/Lot. The auction conditions require a full legal completion 28 days following the auction (unless otherwise stated).
The Pod 17 Espionage Place, South Way, Southwell Business Park, Portland, Dorset, DT5 2FF
Development / Container Storage/ Air B&B , 17 Espionage Place, South Way, Southwell Business Park, Portland, Dorset, DT5 2FF
Development / Container Storage/ Air B&B , 17 Espionage Place, South Way, Southwell Business Park, Portland, Dorset, DT5 2FF
Description
Town and Country Auctions are delighted to offer for sale by public auction this superb and unique development opportunity. An incredible Investment Opportunity for a minimum outlay. 17 Espionage is located on the cliff top with breathtaking sea views overlooking Portland Bill Lighthouse. Steeped in maritime history the building was at the centre of the MI5 Spy Ring during the cold war.
Planning has been granted to extend the property to create a stunning state of the art apartment. With build costs at circa £50,000 and a GDV of circa £180,000 this fantastic development opportunity could return a tremendous profit. Once converted climbing, mountain biking and walking enthusiasts would willing pay £1,000 per week to stay at this iconic location as an Air B&B. As there is parking conveyed with this flat for 10 or so cars this would also make a perfect shipping container site with great income potential.
Existing dimensions 5.03m x 3.25m. Includes kitchen area, studio and shower room.
Planning permission was granted in March 2023 for conversion & extension and can be viewed at https://planning.dorsetcouncil.gov.uk/
Application Number: P/FUL/2023/00374
The current owner will release all surveys, building quotes and architects drawings to the successful bidder on completion.
The property will be entered into our 30th September auction which is held online and starts at 10am. You must register to bid and download the legal pack.
Property Features
. Stunning cliff top location with far reaching views out to Portland Bill
. One bedroom
. Large living/working space
. Long lease approx. 122 years remaining
. Service Charge £438.23 PA
. Planning permission granted in March 2023 for conversion & extension and can be viewed at https://planning.dorsetcouncil.gov.uk/
. Application Number: P/FUL/2023/00374
. The current owner will release all surveys, building quotes and architects drawings to the successful bidder on completion.
. Stunning cliff top location with far reaching views out to Portland Bill
. Parking For Up To 6 Cars
. Long lease approx. 122 years remaining
. Annual Ground Rent: £200
. Cash Buyers Only
. 28 Day Completion
The property is available for viewing immediately. Please contact Town & Country Property Auctions for more information and to register for the auction. The auction will be held online, and registration is now open.
Tenure
Leasehold
Buyers Premium
* Buyers Premium Applies
Pre Auction Offers Are Considered
The seller of this property may consider a pre-auction offer prior to the auction date. All auction conditions will remain the same for pre-auction offers which include but are not limited to, the special auction conditions which can be viewed within the legal pack, the Buyer’s Premium, and the deposit. To make a pre-auction offer we will require two forms of ID, proof of your ability to purchase the property and complete our auction registration processes online. To find out more information or to make a pre-auction offer please contact us.
Special Conditions
Any additional costs will be listed in the Special Conditions within the legal pack and these costs will be payable on completion. The legal pack is available to download free of charge under the ‘LEGAL DOCUMENTS’. Any stamp duty and/or government taxes are not included within the Special Conditions within the legal pack and all potential buyers must make their own investigations.
* The Guide Price given is an indication as to where the Reserve is currently set. The Reserve is the minimum price that the auctioneer is authorised by the vendor to sell the property for. It is subject to change throughout the marketing period. Where the Guide Price is a single figure, the current Reserve will not be more than 10% above that single figure, and where a price range is given (i.e. £50,000 - £55,000), the Reserve will not exceed the upper level of the range. It is not necessarily what the auctioneer expects it will sell for.
We would like to point out that all measurements, floor plans and photographs are for guidance purposes only (photographs may be taken with a wide angled/zoom lens), and dimensions, shapes and precise locations may differ to those set out in these sales particulars which are approximate and intended for guidance purposes only.
These particulars, whilst believed to be accurate are set out as a general outline only for guidance and do not constitute any part of an offer or contract. Intending purchasers should not rely on them as statements of representation of fact, but must satisfy themselves by inspection or otherwise as to their accuracy. No person in this firms' employment has the authority to make or give any representation or warranty in respect of the property.
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