A highly versatile office property suitable for various uses including conversion to flats or return to a single "gentlemans" dwelling.
For Sale by Livestream Auction Friday 22nd October 2021 from 12.00pm.
• Substantial property with rear garden
• PP for residential (3 flats)
• Some works of conversion to residential have been implemented
The property comprises a grade II Georgian style property constructed over 5 floors including attic rooms and small basement with an enclosed rear garden and retaining some period features.
The premises are currently in office use and thought suitable for conversion back to a single dwelling or flats (planning consent given for residential (3 flats)). Some conversion works particularly to the services have been carried out leaving plenty of scope for further layout changes (STP and Listed Building Consents).
The property is currently VAT registered and to be sold on the basis of a TOGC (transfer as a business as a going concern) with no vat chargeable on sale*. Accordingly, if there is a subsequent change of use to residential on the whole of the property it can be zero rated for Vat purposes. The conversion costs will then be subject to the lower rate of Vat at 5%.
Prospective purchasers unfamiliar with the conversion of office property to residential and the VAT implications are suggested they take independent advice.
*The property is occupied by 2 short term commercial tenants in part.
Please see floor plan