Radstock Road, Midsomer Norton, BA3

Description

A mixed-use investment and redevelopment opportunity comprising a former dwelling in need of renovation, adjoining fully let medical clinic, and outbuildings set on a large plot of 0.56 acres. Any development opportunities, subject to gaining the usual necessary consents.

The residential part is accessed via a door to the side and is arranged over two floors. On the ground floor there is an entrance hall with stairs rising to the first floor and two rooms. On the first floor there are four rooms with a bathroom and landing. It needs complete renovation.

The commercial element of the property is used as a treatment clinic and is accessed and occupied independently from the residential part. Arranged over a single storey it comprises a reception, three treatment rooms, kitchen and WC, approximately 76sqft Net Internal Area. There are doors linking to the residential area and to the rear parking area.

Outside

There is parking to the front, side and rear of the property with ample space for clients, staff currently within the leased demise. Access is retained to the large garden to the rear, which are currently overgrown, and provide a versatile space to be used along side the property or for additional development, subject to consents. There is also a single storey outbuilding that is in a poor state of repair.

Leases / Possession

Part of the property is subject to a lease dated 5th November 2021 to Lyfe Health Midsomer Norton Limited. For a term of 10 Years from 5 November 2021. Tenant only break at 5th anniversary. Commencing rent £6,000pa. Section 38A notice was given prior to commencement excluding Sections 24 to 28 of the LTA 1954. We also understand that part of the garden was occupied by a neighbour. A copy of the lease will be available in the auction pack. Interested parties must satisfy themselves.

Completion

Completion has been set for Tuesday 14th January 2025 or earlier by arrangement.

Local Council

Bath and North East Somerset Council

Services

Mains water, gas, electricity, and drainage are connected to the property. Potential buyers must rely on their own enquiries with regard to the supplies and connections.

VAT

The purchase price is not subject to VAT

Tenure

Freehold. Vacant possession will be given on the residential element. The commercial part is subject to the existing lease.

Uplift Clause: The property will be sold subject to an uplift clause of 25% to last for a period of 25 years. Full details will be contained in the auction pack.

Council Tax Band: D

Business Rates: Rateable Value £5,300 (not rates payable).

EPC: Residential – F. Commercial TBC

Viewing

By appointment through Cooper and Tanner on 01761 411010 (Option 1)

Solicitor

Thatcher and Hallam

Melanie Harrison acting. Tel: 01761 414616

Registering to Bid and Administration Fee

All bidders who wish to bid at our Auction to register beforehand, via the Cooper and Tanner website. As part of the registration process, you will be asked to provide card details in order that the Buyer’s Administration Fee of £1,350 inc VAT can be paid if you are successful. A week before the auction a hold will be placed on your account for this sum, which will then be released if you are unsuccessful. This fee will only be taken if you are the successful buyer. The fee is retained by Cooper and Tanner and does not form part of your deposit or completion settlement. Please also be aware that the Buyer’s Administration fee is payable per lot purchased. If you are successful in purchasing more than one lot, we will contact you following the auction to take subsequent payments for additional lots bought. All checks required by current anti-money laundering legislation must be satisfactorily completed, as part of the registration process before prior approval to bid will be granted; this will include providing proof of funds.

Deposit

Successful bidders will be required to pay to the Cooper and Tanner Client Account the deposit of 10% of the purchase price within 24 hours of the auction. The account details will be provided to the successful bidder on conclusion of the auction. Once funds are cleared, they will be transferred on to the account of the solicitor acting for the seller. Please ensure that funds are in an account suitable to be able to make an Electronic Transfer from.

Agents Note: Some photos taken April 2024.

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