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Reduced guide price
ONLINE AUCTION from 29th AUGUST-31st AUGUST
A rare opportunity to acquire a detached cottage with land adjacent to the Monmouthshire and Brecon canal. The property offers huge potential either for refurbishment of the existing property or re development (subject to neccessary planning consents) and has been stripped ready for improvement.
The canal offers amazing walks or cycling opportunities for those who enjoy outdoor pursuits but is also convenient for access to both local amenities, Newport city centre and the M4 motorway. The property would be ideal for homeowners wanting a secluded retreat, for investment for buy to let, a holiday let or for a builder wanting to re develop the land for either one or two new dwellings (subject to necessary planning consents).
The property requires modernisation and has 1 / 2 bedrooms (currently interconnecting) and electric storage heaters. The gardens extend to the front, side and rear of the property and offer huge potential.
Please be aware that a previous planning application was refused and a new scaled back proposal has been submitted (see plans)
Please note image 21 was taken in 2022
Use NP20 7RB for location. Proceed straight down Mill Heath to the bottom where the road turns left, please park along this section of the road (look out for yellow salt/grit bin) and then follow by foot the lane to your right leading to Lock Cottage.
To be sold with vacant possession
Advised Freehold - to be verified by solicitor
Auction fees: The sale of each lot is subject to a buyer’s premium of 1.2% of the purchase price (subject to a minimum of £1,200) including VAT unless otherwise stated.
Additional costs: The purchase of the property may be subject to (but are not limited to), VAT (if applicable), reimbursement of the seller’s search fees, reimbursement of seller’s legal and/or sales costs, stamp duty/land transaction tax (LTT). Please check accompanying legal pack for further details.
* Generally speaking Guide Prices are provided as an indication of each seller's minimum expectation, i.e. 'The Reserve'. They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide.
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