Details
Viewings
Addendum
Prospective bidders should note that 1 The Cedars has been vacated since marketing commenced, therefore the property is now subject to 7 x tenancies with 1x unit vacant. The total current gross rents reserved are therefore £49,740 p.a. (equivalent). The below particulars have been amended to reflect this.
Property Summary
  • A multi-unit residential investment arranged over two detached buildings.
  • Comprising 4 x two bedroom self-contained flats & 4 x two bedroom self-contained maisonettes.
  • Subject to 7 x assured shorthold tenancies (AST).
  • 1 x maisonette vacant.
  • Situated in the grounds of Pondsmead Nursing Home.
  • Allocated & visitor parking.
  • Total current gross rents reserved £49,740 p.a. (equivalent).
Tenure

Long leasehold. The property is held under a term of 999 years from 25th November 1998 at a peppercorn ground rent.

Location
  • Introduction: A Somerset town.
  • Population: 5,600 (2011 Census).
  • Situated: Bath 7.8 miles north east, Bristol 14.9 miles north west, Taunton 38 miles, south west.
  • Roads: A37, A39.
Situation

The property is situated within the grounds of Pondsmead Residential & Nursing Home, to the west of Bath Road, and to the south of High Street. The nursing home grounds are conveniently set within Radstock Town Centre.

Description

The Lot is arranged across two detached buildings. The first building "The Cedars" is arranged over ground and first floors and comprises 4 x two bedroom self-contained maisonettes. The second building "The Elms" is arranged over ground floor only and comprises 4 x two bedroom self-contained flats. A schedule of accommodation is set out below:

Accommodation & Tenancies
Unit Accommodation Terms of Tenancy Current Rent Reserved £ p.a.
    Total  £49,740 p.a. (equivalent)
The Cedars 1

Ground Floor: Reception room, bedroom, bathroom, kitchen, bathroom, conservatory. 

First Floor: Master bedroom with ensuite

Vacant  -
The Cedars 2

Ground Floor: Reception room, bedroom, bathroom, kitchen, bathroom, conservatory. 

First Floor: Master bedroom with ensuite

An AST from 11.12.2009 (presently holding over) £7,500 p.a. (equivalent)
The Cedars 3

Ground Floor: Reception room, bedroom, bathroom, kitchen, bathroom, conservatory. 

First Floor: Master bedroom with ensuite

An AST from 28.04.2011 (presently holding over) £7,800 p.a. (equivalent)
The Cedars 4

Ground Floor: Reception room, bedroom, bathroom, kitchen, bathroom, conservatory. 

First Floor: Master bedroom with ensuite

An AST from 15.01.2016 (presently holding over) £7,800 p.a. (equivalent)
The Elms 1 Reception room, two bedrooms, kitchen, bathroom An AST from 06.12.2010 (presently holding over)  £6,480 p.a. (equivalent)
The Elms 2 Reception room, two bedrooms, kitchen, bathroom A 12 month fixed term AST from 08.08.2017 £7,200 p.a. (equivalent)
The Elms 3 Reception room, two bedrooms, kitchen, bathroom An AST from 23.03.2016 (presently holding over) £6,480 p.a. (equivalent)
The Elms 4 Reception room, two bedrooms, kitchen, bathroom An AST from 15.01.2016 (presently holding over).  £6,480 p.a. (equivalent)

 

 

NB: The property was not internally inspected by BidX1. 



*Terms and Conditions

Buyers are strongly advised to read these terms and conditions, and check the Special Conditions and any applicable Addendum, prior to bidding on a Lot. Additional costs, charges and encumbrances may apply for Buyers once they have made a successful bid in relation to a property.

  1. The reserve price is the minimum price at which the property can be sold at auction.
  2. Where a guide price (or range of prices) is given, that guide is the minimum price at which, or range of prices within which, the seller may be prepared to sell on the date on which the guide price, or range of prices, is published. The sale price, whether prior to or at the auction, can be above or below the guide price depending upon market activity. BidX1 and the seller accept no responsibility for any losses, costs or damages incurred by a buyer as a result of relying on any guide price. The buyer must decide how much they should bid for any Lot. All guide prices are quoted "subject to contract". Guide prices given by BidX1 or the seller cannot be accepted by the buyer as being a professional valuation for any purpose in accordance with the requirements or guidance notes of relevant professional bodies or other authorities.
  3. Both the guide price and the reserve price may be subject to change up to and including the day of the auction. Whilst every effort is made to ensure that these guides are not misleading, it is possible that the reserve price set for any Lot may exceed the previously quoted guide price (as the seller may fix the final reserve price just before bidding commences).
  4. The guide price for the Lot does not include the administration fee of £1,000 (inclusive of VAT) charged by BidX1. In addition, the guide price does not include VAT on the sale price, or any additional costs, charges or encumbrances that might apply to some Lots and/or some buyers. The Special Conditions of Sale of the seller, and any applicable Addendum, will state if there are other costs, charges or encumbrances and whether the seller has elected to charge VAT on the sale price.
  5. A minimum participation fee of £4,500 must be paid by all bidders who wish to partake in the auction. A participation fee of £4,500 is comprised of the £1,000 (inclusive of VAT) administration fee payable directly to BidX1 and £3,500 relating to your bidder security (partial deposit payment). A higher participation fee may be payable depending on the reserve price of the Lot. However, even in those circumstances, the administration fee shall remain at £1,000 (inclusive of VAT). The participation fee is fully refundable if you do not make the successful bid in relation to a Lot at auction. If you make a successful bid in relation to a Lot at auction your participation fee is non-refundable.
  6. Please note that Lots may be sold or withdrawn prior to auction.
  7. No information, statement, description, quantity or measurement contained in any sales particulars or given orally or contained in any webpage, brochure, catalogue, email, letter, report, docket or hand out issued by or on behalf of BidX1 or the seller in respect of the property shall constitute a representation or a condition or a warranty on behalf of BidX1 or the seller. Any information, statement, description, quantity or measurement so given or contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the seller are for illustration purposes only and are not to be taken as matters of fact. Any mistake, omission, inaccuracy or mis-description given orally or contained in any sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the seller shall not give rise to any right of action, claim, entitlement or compensation against BidX1 or the seller. All bidders must satisfy themselves by carrying out their own independent due diligence, inspections or otherwise as to the correctness of any and all of the information, statements, descriptions, quantity or measurements contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the seller.

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