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Lot 8

Completion 25th March 2019

Situation

Occupying a prominent corner trading position at the intersection of Chard Street, Lyme Street & West Street, and close to branches of McColls, Boots, Santander, Tesco, Vision Express, Post Office, Lloyds Bank as well as being the home of the well known River Cottage Cookery School & Delicatessen.
Directly opposite is the George Hotel, currently undergoing a major refurbishment and due to re-open in February. Previous guests include King George lll and Lord Nelson.
Axminster is an attractive Market Town and popular tourist destination on the River Ax, the birthplace of Axminster Carpets in 1755, located 5 miles north-west of Lyme Regis, 7 miles south of Chard and 25 miles south-east of Exeter, with excellent road links with the A35 & A358.

Property

A substantial terraced property with excellent window frontage comprising a Ground Floor Coffee Shop with Basement Ancillary Storage all fitted to an extremely high standard, together with separate front access to a Self-Contained Commercial Upper Part at first and second floor level.

VAT is NOT applicable to this Lot

Freehold

Tenant Profile

Jurassic Coast Coffee Ltd and Premiere Coffee Ltd have recently merged with the Scoffs Group and now form one of the largest Costa franchises trading from 88 branches across the Country. Premiere Coffee Ltd reported Turnover for the year ending 30th November 2017 of £22.44m, Pre-Tax Profit £1.2m and Shareholders' Funds £2.93m.

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
b. A single price figure where the 'Reserve' is not to exceed it.
c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,500 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.

1 Victoria Place, Axminster, Devon EX13 5NQ