Call 0800 038 5996

Guide Price: £2,000,000.00

Traditional Auction

Devon Towers , 58 62 St Michael's Road , Bournemouth , BH2 5ED

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CURRENT BID*

£1,990,000.00

(Place a bid)

STARTING TIME

30/01/2025 13:00:00

Lot Number: 33613515

Property ID: 16995446

Whoobid Auctioneers

djacobs@whoobid.co.uk

01202 137200

The minimum current bid is £1,990,500.00

Fees Apply

Automatic maximum bid £ (only bid in increments of £500)

£

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Guide Price

£2,000,000.00

Method of Auction

Traditional

Property Type

Commercial

Number Of Beds

5+

Tenure

Freehold Property

Address

Devon Towers

Key Features

• Guide Price - **£2,000,000 - £2,500,000**
• Investment Opportunity
• 65 En - Suite Rooms
• Scope For Further Improvement Or Redevelopment
• Within Close Proximity Of The Beach And Town Centre
• Buyers Fee Applies
• Pre Auction Offers Considered
• Auction Pack Available On Request

Description

** For Sale By Online Auction** Pre Auction Offers Considered** Guide Price - £2,000,000 - £2,500,000**

Situated at 58-62 St. Michael’s Road, this 65 en-suite room hotel provides an opportunity to acquire a functional property in a central Bournemouth location. Positioned within close proximity of the beach and town centre, with scope for further improvement or redevelopment. Five of the rooms are in need of some renovation works to bring them into operation.

Property Details -
Facilities: Includes a bar, entertainment space, lift access, and Wi-Fi in public areas.
Development Potential: The building offers opportunities for modernisation or repurposing into alternative uses, such as serviced apartments or a boutique hotel STP.
Existing Use: The hotel operates as a mid-range accommodation option, appealing to a value-driven segment of the tourism market.
About Bournemouth
Bournemouth is a well-known seaside destination attracting over 7 million visitors annually. The town benefits from a strong tourism infrastructure, including Blue Flag beaches, cultural attractions, and a mix of leisure and dining options. Bournemouth’s events calendar, including conferences and seasonal festivals, supports year-round tourism. The proximity of the property to these key attractions ensures consistent demand for accommodation.

Investment Highlights -
Steady Demand: The town's tourism industry generates steady annual income for Bournemouth, underpinned by its popularity with both domestic and international visitors.
Refurbishment Potential: Modernizing the property offers potential to capture higher-spending guests.
Development Flexibility: The property’s size and layout provide scope for reconfiguration into alternative accommodation or mixed-use development STP

Nearby Amenities -
Bournemouth Beach (0.8 km)
Bournemouth International Centre (0.5 km)
Local shops, restaurants, and bars within walking distance

The property is subject to a lease agreement expiring December 2024.

This property presents a practical investment opportunity for those looking to enter or expand in the hospitality or property market in a coastal setting. For more details or to arrange a viewing, please get in touch.

**Please note that the red line drawing is approximate**

Traditional Terms & Conditions -
This property is for sale via Online Auction. This is a modern twist on the traditional auction room sale where buyers can bid for the property via an online platform. The auction will run for 3 hours on a set date and time chosen by the vendor of the property. The winning bidder, assuming the reserve is met, is legally bound to exchange on the property and pay a 10% deposit similar to a traditional auction house sale and they will have 28 days to complete, please check the legal paperwork to confirm deposit amount. Upon completion of a successful auction the winning bidder will be required to pay a non-refundable reservation fee of 3.6% inclusive of VAT of the winning bid in addition to the purchase price subject to a minimum fee of £5,940 inclusive of VAT. The auction is powered and carried out by Whoobid and is subject to terms & conditions which will form part of the auction pack which will be available to download for free once produced by the vendors legal representatives. We strongly recommend that you review the legal documents prior to bidding and seek legal advice. PLEASE REMEMBER THAT THE RESERVATION FEES ARE PAYABLE IN ADDITION TO THE SALE PRICE. Fees paid to the auctioneer may be considered as part of the chargeable consideration and may attract stamp duty liability. Bidders will be required to register in order to download the 'legal pack', if you choose to bid on the property, you will be required to complete further identity checks for anti-money laundering purposes and provide card details before you are able to place a bid. Properties may be sold prior to public auction if an offer is accepted by the vendors.

**Guide price - This is an indication of the seller's minimum expectations at auction and is not necessarily the figure the property will achieve but acts as a guide, prices are subject to change prior to the auction.

**Reserve price - Most auctions will be subject to a reserve price, if this figure is not achieved during the auction, then the property will not be sold. In normal circumstances the reserve price should be no more than 10% above the guide price.

Property Brochure

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Property Auction Pack

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EPC

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Floor Plan

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**These particulars are produced by the advertising agent and not
verified by Whoobid, they are believed to be correct but their accuracy
cannot be guaranteed and they do not constitute an offer or form part of
any contract.**

Map Location

Property Location

Address: BH2 5ED

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Agent's Information

Name: Whoobid Auctioneers

Address: LONDON, Dorset, EC1V 2NX

Telephone Number: 01202 137200

Email: djacobs@whoobid.co.uk

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