0 Bed Flat For Sale

Development Opportunity in Portland, Dorset to Create a Luxury Apartment with Sea Views - Vacant Possession



Guide Price £25,000 to £50,000 * Buyers Premium Applies



For sale by unconditional online auction.



To review the legal documents and to view the auction information click on the buttons at the bottom of this advert or visit our website tcpa.co.uk



Town and Country Auctions are delighted to offer for sale by public auction this superb and unique development opportunity. An incredible Investment Opportunity for a minimum outlay. 17 Espionage is located on the cliff top with breathtaking sea views overlooking Portland Bill Lighthouse. Steeped in maritime history the building was at the centre of the MI5 Spy Ring during the cold war.



Planning has been granted to extend the property to create a stunning state of the art apartment. With build costs at circa £50,000 and a GDV of circa £180,000 this fantastic development opportunity could return a tremendous profit. Once converted climbing, mountain biking and walking enthusiasts would willing pay £1,000 per week to stay at this iconic location as an Air B&B. As there is parking conveyed with this flat for 10 or so cars this would also make a perfect shipping container site with great income potential.

Existing dimensions 5.03m x 3.25m. Includes kitchen area, studio and shower room.



Planning permission was granted in March 2023 for conversion & extension and can be viewed at
Application Number: P/FUL/2023/00374. The current owner will release all surveys, building quotes and architects drawings to the successful bidder on completion. The property will be entered into our 10th September auction which is held online and starts at 10am. You must register to bid and download the legal pack.



Property Features

. Stunning cliff top location with far reaching views out to Portland Bill

. One bedroom

. Large living/working space

. Long lease approx. 122 years remaining

. Service Charge £438.23 PA

. Planning permission granted in March 2023 for conversion & extension and can be viewed at
. Application Number: P/FUL/2023/00374

. The current owner will release all surveys, building quotes and architects drawings to the successful bidder on completion.

. Stunning cliff top location with far reaching views out to Portland Bill

. Parking For Up To 6 Cars

. Long lease approx. 122 years remaining

. Annual Ground Rent: £200

. Cash Buyers Only

. 28 Day Completion



The property is available for viewing immediately. Please contact Town & Country Property Auctions for more information and to register for the auction. The auction will be held online, and registration is now open.



Tenure

Leasehold



UNCONDITIONAL LOT Buyers Premium Applies Upon the fall of the hammer, the Purchaser shall pay a £5,000 or 5% deposit and a 2%+VAT (subject to a minimum of £6,000+VAT) buyers premium and contracts are exchanged. The purchaser is legally bound to buy and the vendor is legally bound to sell the Property/Lot. The auction conditions require a full legal completion 28 days following the auction (unless otherwise stated).



Pre Auction Offers Are Considered

The seller of this property may consider a pre-auction offer prior to the auction date. All auction conditions will remain the same for pre-auction offers which include but are not limited to, the special auction conditions which can be viewed within the legal pack, the Buyer's Premium, and the deposit. To make a pre-auction offer we will require two forms of ID, proof of your ability to purchase the property and complete our auction registration processes online. To find out more information or to make a pre-auction offer please contact us.



Special Conditions

Any additional costs will be listed in the Special Conditions within the legal pack and these costs will be payable on completion. The legal pack is available to download free of charge under the LEGAL DOCUMENTS'. Any stamp duty and/or government taxes are not included within the Special Conditions within the legal pack and all potential buyers must make their own investigations.