Heaven Bar & Restaurant Exeter Street, Plymouth, Devon, PL4 ONLINE AUCTION

Welcome to Heaven... An exceptional opportunity to acquire iconic commercial premises in a central Plymouth location, offered for sale via online auction with immediate exchange of contracts available. This versatile freehold property, priced at a Guide of £310,000, presents potential for either business or land development.

The premises are currently arranged as a bar and restaurant, boasting a fully equipped commercial kitchen, including a convenient walk-in fridge. The ground floor offers expansive reception rooms, perfect for various dining and entertainment configurations. Additionally, the property features versatile function rooms, providing ample space for events and private gatherings, alongside valuable external space.

Adding to the appeal and income potential, the upper floors comprise three self-contained apartments. These residential units offer flexibility, whether as owner accommodation, staff housing, or rental income streams, complementing the commercial operations below.

Strategically situated in the PL4 postcode, this property benefits from being within walking distance to the vibrant City Centre, the picturesque Plymouth Hoe, and the historic Barbican, ensuring high footfall and excellent visibility. This unique offering provides a superb chance to invest in a prominent Plymouth location.

Viewing is by request through the contact agent, offering an essential opportunity to fully appreciate the scope and potential of this impressive commercial and residential property.

Auctioneers Additional Comments 
Pattinson Auction are working in Partnership with the marketing agent on this online auction sale and 
are referred to below as 'The Auctioneer'. 
This auction lot is being sold either under conditional (Modern) or unconditional (Traditional) auction 
terms and overseen by the auctioneer in partnership with the marketing agent. 
The property is available to be viewed strictly by appointment only via the Marketing Agent or The 
Auctioneer. Bids can be made via the Marketing Agents or via The Auctioneers website. 
Please be aware that any enquiry, bid or viewing of the subject property will require your details being 
shared between both any marketing agent and The Auctioneer in order that all matters can be dealt 
with effectively. 
The property is being sold via a transparent online auction.  
In order to submit a bid upon any property being marketed by The Auctioneer, all bidders/buyers will 
be required to adhere to a verification of identity process in accordance with Anti Money Laundering 
procedures. Bids can be submitted at any time and from anywhere.  
Our verification process is in place to ensure that AML procedure are carried out in accordance with 
the law. 
The advertised price is commonly referred to as a ‘Starting Bid’ or ‘Guide Price’ and is accompanied 
by a ‘Reserve Price’. The ‘Reserve Price’ is confidential to the seller and the auctioneer and will 
typically be within a range above or below 10% of the ‘Guide Price’ / ‘Starting Bid’. 
These prices are subject to change. 
An auction can be closed at any time with the auctioneer permitting for the property (the lot) to be sold 
prior to the end of the auction. 
A Legal Pack associated with this particular property is available to view upon request and contains 
details relevant to the legal documentation enabling all interested parties to make an informed 
decision prior to bidding. The Legal Pack will also outline the buyers’ obligations and sellers’ 
commitments. It is strongly advised that you seek the counsel of a solicitor prior to proceeding 
with any property and/or Land Title purchase. 
Auctioneers Additional Comments 
In order to secure the property and ensure commitment from the seller, upon exchange of contracts 
the successful bidder will be expected to pay a non-refundable deposit equivalent to 5% of the 
purchase price of the property. The deposit will be a contribution to the purchase price. A non
refundable reservation fee up to 6% inc VAT (subject to a minimum which could be up to £7,200 inc 
VAT) is also required to be paid upon agreement of sale. The Reservation Fee is in addition to the 
agreed purchase price and consideration should be made by the purchaser in relation to any Stamp 
Duty Land Tax liability associated with overall purchase costs. 
Both the Marketing Agent and The Auctioneer may believe necessary or beneficial to the customer to 
pass their details to third party service suppliers, from which a referral fee may be obtained. There is 
no requirement or indeed obligation to use these recommended suppliers or services.