Axminster is a market town with a population of approximately 6,000, situated in East Devon. Having famously given its name to the Axminster carpet, the town overlooks the River Axe and has all expected small town amenities; including supermarkets, pubs, hotels, local independent and national retailers, catering facilities, carparking and a cottage hospital. Axminster lies approximately 20 miles east of Exeter and has a mainline railway station providing intermittent daily services across the Southwest, London and to the North. 'St Georges' comprises a terrace of 7 ground floor lock up retail fronted shops, which wrap around the corner of Victoria Place and Chard Street. The shops are self-contained and independently let - Tenancy Schedule overleaf. Over this, and behind is a development of 17 residential flats, all of which have been sold on long leases - further details below. The residential accommodation is situated around a pleasant rear courtyard and is a mix of the original upper parts and later purpose-built extensions. Finally, the freehold as stands includes a freeholder retained ground and first floor residential unit. This does not form part of the sale and will be retained under a new Long Leasehold title.

TENURE
The property is being sold freehold subject to the Occupational Leases and Assured Shorthold Tenancies detailed in the schedule overleaf. The freehold is also subject to 17 x 125 year leases, granted from 1991. The leases allow for £50 per annum ground rent per property. The ground rents payable double at each 25th Anniversary. A sample copy is available from the Agents by request.

VAT
The property is elected for VAT. However, the sale transaction will be shielded from VAT as Transfer of Going Concern (TOGC).

UTLITIES
Each of the retained retail units and the retained residential unit are separately supplied for electricity and water, as are all of the long leasehold residential properties.

EPC
See schedule overleaf.

PROPOSAL
For sale is the freehold of St. Georges, subject to all occupational and long leasehold interests at an asking price of £365,000.

VIEWING
Viewing is strictly by prior appointment with the Sole Agents, Bettesworths and interested parties are requested to be sensitive to the ongoing businesses of our client's occupiers and residents.

Tenure: Freehold

Documents

Studio flat for sale