• Freehold Waterside Investment Producing £6,500 Per Annum

• Reversionary potential

• Comprises a detached tearoom and visitor center extending to approximately 1,106 sq ft (102.76 sq m), together with outdoor seating areas

• Parking for approximately 10 vehicles

• Vehicular and pedestrian access

• To be offered for sale via Knight Frank Auctions on 10th December (will not be sold prior)

Property Description

On the instructions of a Charity.

A rare opportunity to acquire a distinctive freehold commercial investment with reversionary potential occupying an idyllic canalside position adjacent to Maunsel Lock on the picturesque Bridgwater & Taunton Canal.

The property comprises a detached tearoom and visitor center extending to approximately 1,106 sq ft (102.76 sq m), together with outdoor seating areas overlooking the canal and a gravelled service area providing parking for approximately 10 vehicles. Internally, the accommodation includes a seating area, kitchen, office, store and customer WC facilities. Floor areas have been provided by the vendor.

Access is available directly from Banklands via an established vehicular access serving the property, with pedestrian access also available from the adjoining towpath network along the canal.

Services are understood to include mains electricity and water together with private drainage. Interested parties should refer to the legal pack, and rely on their own enquiries.

Tenancy
Let on a lease from 1 November 2022 to 31 October 2037 at a passing rent of £6,500 per annum, subject to upward-only open market rent reviews in November 2027 and November 2032.

The property may offer longer-term alternative use potential, subject to obtaining any necessary consents.

Viewings
Interested parties should view at their leisure during trading hours. Please do not disturb the tenant or customers.

Location

Maunsel Lock Tearooms occupies a charming waterside position at Maunsel Lock on the historic Bridgwater & Taunton Canal, within the rural hamlet of Banklands, near the village of North Newton in Somerset. The property enjoys an attractive setting in the heart of the Somerset Levels, a region renowned for its natural beauty, wildlife and extensive network of walking and cycling routes. The canal towpath immediately adjoining the property provides a popular recreational route for walkers, cyclists, anglers and boaters, generating regular visitor footfall throughout the year. North Newton is located approximately 6 miles south-east of Bridgwater and 8 miles north-east of Taunton, both of which provide a comprehensive range of retail, leisure and transport amenities. The M5 motorway is readily accessible via Junctions 24 and 25, providing convenient road connections to Bristol, Exeter and the wider South West region.

Occupancy

Tenanted

Tenure

Freehold

Auction Details: The sale of this property will take place on the stated date by way of Auction and is being sold as on an Unconditional basis. Binding contracts of sale will be exchanged at the point of sale. All sales are subject to the Common Auction Conditions and Extra General Conditions. Auctioneer Fees and Deposit. The following deposits and non-refundable auctioneer fees apply: • 10% deposit of the purchase price, subject to a minimum of £5,000. The deposit contributes to the purchase price. • Buyer’s Fee- is £1950 including VAT. This is only payable by the successful purchaser. There are no costs to bidding for the property. The Buyer’s Fee does not contribute to the purchase price and will be considered as part of the chargeable consideration for the property in the calculation of stamp duty liability. There may be additional fees contained within the Special Conditions of Sale, which can be viewed within the Legal Pack. You are strongly advised to read the Legal Pack carefully and take professional advice 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 Knight Frank Auctions’ website. This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack. 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 Auction Conduct Guide.