A newly-developed residential park with 16 units and a three-bedroom house on the Somerset coast is coming to auction with a guide price of £485,000 to £515,000.

The rare opportunity to acquire West Bay Park in West Street, Watchet, is among the West Country lots listed for sale by the regional land and property auctioneers Clive Emson in November.

According to the auctioneers it currently generates £23,446 per annum from the ground rent/service charges relating to the 13 park homes that have already been sold away, a figure that will increase to £28,857 when the remaining three are disposed of.

In addition, the annual charges are allied to an index-linked escalator and the freeholder is entitled to 10% of the sale proceeds upon the sale of each park home.

Auctioneer Graham Barton said: “This is an interesting and incredibly rare opportunity to acquire the freehold to a newly developed residential park home complex.

“It boasts superb views over the Bristol Channel to South Wales and is also within a short walk of Watchet’s renowned harbour.

“Some 13 plots already have park homes in situ, leaving two show homes and a serviced plot for retention or sale ready to receive a park home.

“The park also includes the three/four bedroom house West Bay House which offers potential for owner-occupation, sale or letting after refurbishment.”

The auction takes place on Wednesday, November 4 at 11am and will be held at the St Mellion International Resort in Cornwall.