GREENBANK HOLIDAY FLATS 25 PORTH WAY PORTH NR NEWQUAY TR7 3LW

OF INTEREST TO DEVELOPERS INVESTORS AND OWNER OCCUPIERS

ON THE INSTRUCTIONS OF THE JOINT TRUSTEES GR FRAMPTON Esq. & HM ADAM Esq.

A PERIOD BUILDING CONVERTED AND EXTENDED TO PROVIDE 10 SELF CONTAINED HOLIDAY APARTMENTS TOGETHER WITH A DETACHED TWO BEDROOMED COTTAGE ALL IN NEED OF VARYING DEGREES OF MODERNISTION AND/OR IMPROVEMENT WITH ASSOCIATED CAR PARKING AND GARDENS.

THESE HOLIDAY FLATS WE BELIEVE TO BE IN A SUPERB POSITION APPROX 250M FROM PORTH BEACH WITHIN AN AREA BENEFITTING FROM MANY COMPLIMENTARY LEISURE BUSINESSES

FOR SALE BY INFORMAL TENDER ( UNLESS PREVIOUSLY SOLD) GUIDE PRICE £400,000 CLOSING DATE 12 NOON WEDNESDAY 23RD JUNE 2010

VIEWING STRICTLY BY APPOINTMENT

Situation and Description

Greenbank Holiday Flats are located in Porth , a popular holiday destination approximately 1 mile from central Newquay, opposite Porth Veor Manor Hotel and Restaurant complex. Please see the attached location / site plan.

Within about 250 yards from the site is the delightful sandy Porth Beach. There are numerous complimentary businesses within the area, with a much greater choice for the self catering holidaymaker within Newquay town centre itself.

The dramatic coast line, towering cliffs and fine beaches with plentiful Atlantic surf together and idyllic fishing villages like Padstow and Port Isaac never fails to attract visitors all year around to the region.

Greenbank, an imposing period building, we understand was built for a local businessman as a residence in 1871.Over the years it has had various uses and has been extended. The main property was converted to 10 self contained flats around 1980.The flats are of varying size and used to cater for between 2 and 6 guests. Please see www.greenbankholidayflats.co.uk .

The detached cottage lies across the car park and has been occupied as a permanent residence for many years.

Planning Consent,Notices & Licenses

Planning consent, application 80/518 for the conversion of existing holiday flats with shared bathrooms to self contained holiday flats was passed in 1980,conditional upon their use as holiday accommodation only and not for permanent residential accommodation.

We understand from Cornwall planning authority that the premises are within the Newquay development area and alternative consents would be considered subject to agreeing any necessary S106 agreements. Prospective purchasers should make their own enquiries to Cornwall Council on 0300 1234 151

Cornwall County Fire brigade recently served on this property requiring the premises to comply with current fire safety legislation. The notice period within which to comply has expired and therefore before they premises are reopened upgrading works including the installation of a suitable detection and alarm system are required. The fire upgrade or planning restriction does not relate to the detached cottage which has been in permanent residential occupation by the owners. Further details available on request.

The premises do not have an alcohol license.

Business

The property has ceased trading and there are no trading accounts available. The property is being sold with vacant possession upon completion.

Accommodation (All measurements are approximate)

Main Building

Ground Floor entrance hallway with stairs leading to first floor

Flat 8 Lounge / Kitchen 4.76m x 2.95m (into bay) Bedroom 3.38m x 1.68m Shower room WC and wash hand basin

Flat 9 Lounge / Kitchen 5.48m x 4.33m (excl bay) Bedroom 2.05m x 3.18m Bedroom 3.36m x 2.94m Shower room WC and wash hand basin

Flat 10 Lounge / Kitchen ‘L’ shaped - 4.80m x 2.27m + 4.5m x 2.30m Bedroom 2.85m x 3.94m Shower room WC and wash hand basin

Laundry Room 2.90m x 2.66m

Boiler room 4.86m x 5.13m

First Floor

Flat 1 (Sea Views) Lounge / Kitchen 4.40m x 3.62m Bedroom 3.09m x 2.43m Shower room WC and wash hand basin

Flat 2 ( Sea Views) Lounge / Kitchen 5.07m x 3.63m Bedroom 3.75m x 3.09m Shower room WC and wash hand basin

Flat 3 Lounge / Kitchen 2.57m x 3.77m Bedroom 2.54m x 3.80m Shower room WC and wash hand basin

Flat 4 (Under Construction) Lounge / Kitchen 5.12m x 3.09m Bedroom 2.15m x 3.97m

Access to attic 6.77m x 3.77m restricted stairway and height. If inspecting mind your head! Access to further attic space not boarded.

Flat 5 Lounge / Kitchen 4.89m x 2.34m Bedroom 3.64m x 2.34m Shower room WC and wash hand basin

Flat 7 Lounge / Kitchen 5.00m x 3.36m Bedroom 2.76m x 3.89m Bedroom 2.55m x 3.27m Shower room WC and wash hand basin

Flat 6

Part of main building but with self contained external Ground floor access Lounge 2.70m x 4.88m max Kitchen Diner 2.96m max to 1.63m min x 4.53m Bedroom 3.89m x 2.65m Shower room WC and wash hand basin

Detached Cottage

Entrance into Open plan Lounge Dining room and Kitchen 9.06m x 3.75m Feature fireplace with fitted electric fire, fitted kitchen with range of units and fitted work surfaces.

Feature stairway to

First floor landing with airing cupboard and gas boiler for water and heat Main Bedroom 3.79m max x 3.73m fitted bedroom furniture Guest room 2.98m x 3.60m fitted bedroom furniture Bathroom bath with shower over WC and Wash hand basin Attached to the cottage is a former garage now a workshop / store Front area 5.00m x 4.23m rear area 4.60m X 4.04m

Outside

The grounds are mainly laid to lawn with some mature shrubs and trees.

There is a good size car park and the extent of the property is shown on the site plan attached.

Asbestos and Asbestos related products

A recent asbestos survey has identified asbestos being present in this building. This is not an uncommon occurrence in a building converted over 30 years ago as asbestos was a common building material used for many applications.

The material found in flat 4 was analised as asbestos cement sheeting a relatively low risk product we understand. Shield Environmental services have inspected and sealed the exposed boarding and issued a clean air certificate for the premises. A copy of the asbestos report is available for inspection if required. Further details are available upon request.

Services

We understand that all mains services are connected

Energy Performance Certificate

An EPC has been carried out on the premises and is available for inspection upon request.

Method of Sale

The property is being offered for sale by Informal tender. Best offers for the property must be made before 12 noon Wednesday 23rd June 2010 as set out in the attached procedure.

The Trustees are not bound to accept the highest or any offer and should an offer be made prior to the aforementioned date they reserve the right to accept that offer on the basis that no better offer is made prior to exchange of contracts. Exchange is expected within 28 days of receipt of documentation

FOR MORE INFORMATION, VIEWNG DAYS AND TIMES CONTACT: NICK WHEELDON MRICS ALL VIEWINGS MUST BE ACCOMPANIED AND BY PRIOR APPOINTMENT

INFORMAL TENDER PROCEDURE

We are following the RICS guidelines for sale by informal tender and would ask you to comply with the following: Your best offer is to be received at the offices of Michelmores LLP Solicitors, Woodwater House, Pynes Hill,Exeter,EX2 5WR, in writing by 12 noon Wednesday 23rd June in a sealed envelope to be marked “Sealed bid for Greenbank Holiday Flats, Newquay - reference GCS/fmb/62550/28” and “Not to be opened before 12 noon Wednesday 23rd June 2010”.

• Please supply the name and addresses of your solicitors, the name of the person who will attend to this matter, together with contact details including telephone, fax ,DX and email where appropriate.

• The offer is to include confirmation from your bank or building society or other financial institution as to the funds it is prepared to provide if your best offer is accepted and evidence that you are able to provide the balance of the price from your own resources.

• The offer is to state the period within which you will be able to exchange unconditional contracts, if more than 28 days, following receipt of the title documents from the vendor’s solicitors (please take your own solicitor’s advice in this regard).

• Your offer is to be submitted subject to contract and any other conditions on which it is made are to be specified.

• Please list any fixtures or equipment with or upon the land which are included in your offer as certain items may not be in the Trustee’s ownership or control and, therefore, cannot be sold.

• Any offers sent by facsimile or email will not be considered and may invalidate any offer received in the sealed envelope, due to the potential breach of confidentiality.

• Offers must be for a specific sum.

• The vendor reserves the right not to accept the highest or any other offer made.

• All offers are to be exclusive of VAT if chargeable.