Church Road, Madron, Penzance, TR20

To be sold via Bradleys Online Auctions, powered by Bamboo Auctions! Fabulous opportunity to acquire a former, first floor, two-bedroom apartment which has been tastefully converted into a large, bright, open plan artist studio with separate W.C. and balcony area (for business use). EPC GRADE E.

Important Information Tenure Leasehold - 970 years remaining. Maintenance - shared 50% with the freeholder (clause 2(j) of the lease states that the Tenant covenants with the Freeholder to reimburse within 7 days one half of any expenditure incurred by the Freeholder on maintenance of shared parts of the property) Ground Rent £51 per annum. Local Authority - Cornwall Council. Commercial Use - Currently used as an artist studio, formerly a 2 bedroom apartment. Mains water, drainage & electric. Business Use. Heating - Electric

Online Auction Online Auction scheduled to finish on 8th September 2023 at 12:00. This property is being sold by conditional online auction and a non-refundable reservation fee of £5000 or 3.5% + VAT applies, whichever is the greater (in addition to the purchase price). If you are the successful bidder, you will be charged the amount of £5,000 + VAT (£6,000) or 3.5% +VAT, whichever is the greater, which will be processed online, immediately at the end of the auction, only if you are the successful bidder. You will then have 20 working days within which to exchange contracts, and a further 28 days to complete the purchase. Terms and conditions apply to the modern auction method of sale, which is operated by Bradleys Property Auctions. These details are subject to change up to and including the day of the auction. Please check our website regularly at: and look out for any additional materials available on the day of the auction, in order to stay fully informed with the up to date information.Definition Of A Guide Price And A Reserve PriceGuide PriceAn indication of the seller's current minimum acceptable price at auction. The guide price or range of guide prices is given to assist consumers in deciding whether or not to pursue a purchase. It is usual, but not always, that a provisional reserve range is agreed between the seller and the auctioneer at the start of marketing. As the reserve is not fixed at this stage and can be adjusted by the seller at any time up to the day of the auction in the light of interest shown during the marketing period, a guide price is issued. This guide price can be shown in the form of a minimum and maximum price range within which an acceptable sale price (reserve) would fall, or as a single price figure within 10% of which the minimum acceptable price (reserve) would fall. A guide price is different to a reserve price (see separate definition). Both the guide price and the reserve price can be subject to change up to and including the day of the auction.Reserve PriceThe seller's minimum acceptable price at auction and the figure below which the auctioneer cannot sell. Bids may be accepted by the system but the property will not sell if the bidding does not reach the reserve. The reserve price is not disclosed and remains confidential between the seller and the auctioneer. Both the guide price and the reserve price can be subject to change up to and including the day of the auction.