Lot 75 - Five Flats & Commercial Unit, 24 Market Place, Coleford, Gloucestershire, GL16 8AE

  • Unconditional Online Auction Sale
  • Guide Price* : £375,000+
  • Bedrooms: 2

Addendum

The property has been withdrawn from auction.

Lot 75 - Commercial Unit & Five Flats

Description

ONLINE AUCTION from 1st OCTOBER-3rd OCTOBER

A mixed-use development premises comprising of five flats and a commercial premises. There is also planning consent for an additional flat. 

The ground floor unit is currently occupied by a takeaway and is achieving an annual income of £1,170 per a month and holds an A3 licence.

Two of the five flats are currently tenanted. Once fully occupied this property has potential to achieve a total income of approximately £50,000 per annum.

Location
Market Place is situated in the towns main square, it serves as a focal point for local activity and community life. The area is surrounded by a mix of traditional stone buildings, containing a number of mixed use developments. 

The square is lined with independent shops, cafés, and essential services, making it a convenient spot for residents and visitors alike. A notable feature of the square is the iconic clock tower, a symbol of Coleford's history and a key meeting point for the community. The atmosphere is lively during the day, particularly on weekends, when the market thrives, and quieter during the evenings, giving it a peaceful, small-town vibe.

Events such as the Coleford Music Festival and other seasonal celebrations often take place in the Market Place, drawing in crowds and adding to the vibrancy of the town. The surrounding streets are easy to navigate, and parking options are nearby, making it an accessible and welcoming destination in Coleford. 

Planning Permission
Planning consent has been approved for erection of a second and third floor to the rear of 24 Market Place to create an additional two-bedroomed flat over two further floors (revised scheme). 

Services
The property benefits from gas, water and electric (not tested).

VAT
We have been advised that no VAT is due on the sale of this property.

Accommodation

Commercial Unit: Retail area, kitchen and WC
Flat 1: Open plan lounge/kitchen, bedroom & shower room
Flat 2: Open plan lounge/kitchen, bedroom & shower room
Flat 3: Open plan lounge/kitchen, bedroom & shower room
Flat 4: Lounge, kitchen, bedroom & shower room
Flat 5: Lounge, kitchen, stairs to first floor, 2 bedrooms & bathroom

Council Tax Band

A

Auction Fees And Additional Costs

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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Paul Fosh Auctions
01633 254044

Office Contact

Debra Bisley

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