2 bedroom Property for sale

£195,000

Pavarottis Restaurant, 105 High Street, Shanklin, Isle Of Wight, PO37 6NS

Key features:

For Sale by Online Auction
Auction Date : 11 DECEMBER 2024
Lot Number : 52
Freehold Restaurant With Living Accommodation Over
Mixed Commercial/Residential
Freehold
*Guide Price : £195,000 Plus + Fees

Description

This three storey freehold building is situated in the heart of Shanklin old village, a prime location for hospitality businesses in this popular seaside town. Pavarotti's has earned a reputation as a prime eating location over the last 30 years with the business now being reluctantly closed and the building offered for sale due to retirement.

There is the opportunity for a restauranteur to continue in a similar vein or, alternatively, the ground floor may suit other commercial uses, subject to all necessary consents being obtainable. The upper two floors are arranged as two-bedroom owner’s accommodation which could be separated to provide a separate self-contained flat, subject to any works required and, again, any necessary consents being obtained.

Ground Floor
Restaurant area, kitchen, lobby and rear store.

First Floor
Ladies and gents customer cloakrooms both with W.C.s.

Owner’s Accommodation
Entrance lobby, living room, kitchen.

Second Floor
Two bedroom and bathroom with W.C.

Outside
Small outside area to the rear.

EPC Rating
C (75). Floor area 159 sq.m.

Freehold with Vacant Possession

Commercial EPC: C

Important:
All lots are sold subject to the Common Auction Conditions and Special Conditions of Sale (unless varied by the Sellers Solicitors), together with the Addendum, which will be available on the Auction Day.

Price Information
*Guides are provided as an indication of each Seller's minimum expectation. They are not necessarily figures at which a property will sell for and may change at any time prior to Auction. Unless stated otherwise, each Lot will be offered subject to a reserve (a figure below which the Auctioneer cannot sell the Lot during the Auction). We expect the reserve will be set within the guide range or no more than 10% above a single figure guide. Please check our website regularly at www.cliveemson.co.uk, or contact us on 01622 608400, in order to stay fully informed with the up-to-date information.

*An Administration fee and Other non-optional fees may also be payable in addition to the bid price. All lots are offered subject to the Common Auction Conditions and Special Conditions of Sale or Revised Special Conditions of Sale (as applicable) and may include the repayment of search and other fees and or costs payable by the buyer. All buyers are advised to inspect all available legal documentation prior to bidding and will be deemed to fully understand what they may be liable for if they are successful in purchasing. This should also include Stamp Duty, Land Registry fees and VAT which may become payable on completion in line with any property transaction, whether it is by auction or private treaty. If, as a buyer, you are in doubt you should seek advice from your own professional advisors. For more information on fees please go to www.cliveemson.co.uk/buyers-fees/