Location
The highly desirable and sought-after market town of Kingsbridge is located at the head of the Salcombe estuary. Kingsbridge is positioned perfectly in the beautiful South Hams, an ‘Area of Outstanding Natural Beauty’, and provides a fantastic range of local and independent shops, restaurants, pubs, two supermarkets, a cinema, a leisure centre with swimming pool, medical centre, community hospital, schooling, and churches. Lower Union Road is located within the town centre and is known to accommodate the majority of restaurants in the town.
Description
The property comprises a substantial former nightclub with fitted bar, dance floor, lounge, reception kitchen and rest rooms. The Uppers are currently accessed by an integral stairwell to storage and residential accomodation and a second floor flat. External stairs to rear garden area and yard.
Services/ Miscellaneous
The owner of the adjacent yard has a right of way over the yellow coloured land. We understand that mains electricity, water and drainage are connected to the property however these services have not been tested by the agents. Interested parties should make their own enquiries .
Some parts of the property have been damaged by a burst water pipe.
Accommodation
All areas are approximate and measured in accordance with the RICS Property Management (2nd Edition) on a Gross internal basis.
Sq Ft. SQ M
Ground Floor Nightclub 4,127 411
First Floor Storage / Flat 2013 187
Second Floor Flat 1389 129
TOTAL 7,529 700
Business rates/council tax
From the Valuation Office Agency website (www.voa.gov.uk) we understand that the last listed Rateable Value was £20,250 therefore making the approximate Rates Payable £10,125 pa for 2023/24. The property has since been de-listed as it has not traded for a period. Interested parties are advised to confirm the rating liability with South Hams District Council.
EPC B
Planning/development Potential
The vendor commissioned plans from an architect and the services of planner in a pre-app with SHDC to consider the redevelopment options. The synopsis for the premises and site is that, subject to planning, a mixed use scheme would be acceptable with the existing building being partially demolished (conversion preferred) to have on the site -
● 4 X 2 bed flats of 55 sq m with Ground floor storage
● 1 X newbuild commercial Unit at entrance of 53 sq m with arch entrance
● 2 bed flat over commercial unit of 60 sq m
● Approx 115 sq M of additional commercial (office) floorspace
● 4 X 3 storey town houses of 148 sq m on the land to the side of the existing building.
The site mostly falls within Flood Zone 3 so a sequential test may be required.
Information room
A link to a Share-file / drop box is available to interested purchasers by email request.
Proposal
The property is available as is on a Freehold Unconditional basis – Guide £700,000, subject to contract only.
VAT
The property has not been elected for VAT and therefore VAT will not be charged on the price. Under the Finance Acts 1989 and 1997, VAT will be levied on the sale. We recommend that the prospective purchasers establish the VAT implications before entering into any agreement.
Legal fees
Each party to bear their own legal fees.
Control of Asbestos
It is the responsibility of the owner or tenant of the property, and anyone else who has control over it, to comply with the regulations. The detection of asbestos and asbestos-related compounds is beyond the scope of Rossiter Property Consultants and accordingly we recommend you obtain advice from a specialist source.
Subject to contract
Rossiter Property Consultants is a Limited Liability Company trading as Rossiter Property Ltd and registered in England and Wales. No 12999904. Registered office Michael House, Castle Street, Exeter EX4 3LQ.
Money laundering regulations 2017
As part of our obligations under the UK Money Laundering Regulations, Rossiter Property Consultants requires any purchaser or tenant to provide information and documentation to satisfy our legal obligations
Control of Asbestos
It is the responsibility of the owner or tenant of the property, and anyone else who has control over it, to comply with the regulations. The detection of asbestos and asbestos-related compounds is beyond the scope of Rossiter Property Consultants and accordingly we recommend you obtain advice from a specialist source.
Viewings: Strictly by appointment only
DISCLAIMER
These particulars are intended as a fair description of the properties and are prepared as a guideline. They do not constitute part of an offer or contract.
EPC rating: B