Restaurant in Telford

Former Cleos Restaurant, High Street, Ironbridge, Telford TF8 7AD
  • Lot No: 57
  • Property Type: Restaurant
  • Contract Type: Unconditional with Variable Fee

Guide Price* £150,000+ plus fees

Property Description

A freehold former restaurant located in the centre of the historic town of Ironbridge fronting the High Street and within walking distance of the Ironbridge Gorge Museums and the River Severn. The town is a popular tourist location with many local amenities. Ironbridge is located approximately 5 miles south of Telford Town and approximately 9 miles from the Town of Bridgnorth. The property benefits from a generously glazed frontage with the ground floor fitted out with a restaurant area served by a commercial kitchen and toilets. The first floor offers further seating area. There is an outside area suitable for further seating arrangements. ACCOMMODATION Description SQFT/SQM Restaurant: 1,316 / 122.31 Kitchen/Office: 215 / 20.01 W.C Area: 119 / 11.07 First Floor: 288 / 26.80 TOTAL: 1,938 / 180.19 RATING The Valuation Office website lists the property with a rateable value of £22,750 effective 1st April 2023. TENURE The Lot is the freehold land known as Severn Valley Motors, High Street, Ironbridge, Telford, TF8 7AD comprised in title SL112937. The freehold interest is for sale with the benefit of vacant possession. VAT We understand that no VAT will be charged on the sale price.

Note

Prospective buyers are advised to make all necessary independent enquiries prior to placing their bid as this will be binding.


Draft Sales Details

These sales details are awaiting vendor approval.


Tenure

Freehold

Auction Details: The sale of this property will take place on the stated date by way of Auction Event and is being sold as Unconditional with Variable Fee (England and Wales). Binding contracts of sale will be exchanged at the point of sale. All sales are subject to SDL Property Auctions’ Buyers Terms. Properties located in Scotland will be subject to applicable Scottish law. Auction Deposit and Fees: The following deposits and non- refundable auctioneer’s fees apply:
  • 5% deposit (subject to a minimum of £5,000)
  • Buyer’s Fee of 4.8% of the purchase price for properties sold for up to £250,000, or 3.6% of the purchase price for properties sold for over £250,000 (in all cases, subject to a minimum of £6,000 inc. VAT). For worked examples please refer to the Auction Conduct Guide.
The Buyer’s Fee does not contribute to the purchase price, however it will be taken into account when calculating the Stamp Duty Land Tax for the property (known as Land and Buildings Transaction Tax for properties located in Scotland), because it forms part of the chargeable consideration for the property. There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding. Additional Information: For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions’ home page. This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack (and any applicable Home Report for residential Scottish properties). Guide Price & Reserve Price Each property sold is subject to a Reserve Price. The Reserve Price will be within + or – 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. A full definition can be found within the Buyers Terms.

Auction Details

Date 21st November 2024

Venue National Property Auction
Our national property auction will be broadcast online with live auctioneers. To bid by proxy, online, or by phone, please submit your registration form no later than 5pm the day before the auction.

Lot Information

Contact Us

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Map

Former Cleos Restaurant, High Street, Ironbridge, Telford TF8 7AD