Lot 61 - The Courtyard, George Street, Pontypool, NP4 6LR
- Unconditional Online Auction Sale
- Guide Price* : £110,000+
- Bedrooms: 0
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Lot 61 - Commercial Units for Investment
Description
ONLINE AUCTION from 1st OCTOBER-3rd OCTOBER
A courtyard development, comprising of five units, with two of these units converted into one larger space in recent years. This unique setup offers a diverse mix of tenants and potential for further growth.
Currently, four out of the five premises are tenanted, generating a strong annual income of £18,456. The one vacant unit presents an excellent opportunity for additional revenue, with a projected rental income of £375 per month (£4,500 per annum). When fully occupied, the total potential income for the property is £22,956 per annum.
The current tenants include reputable retailers such as children's services, footcare specialists, and an antiques shop. The vacant unit offers flexibility and could suit a variety of businesses, including but not limited to a dog groomers, tattoo parlour, or nail salon.
Ideal for investors looking to add a versatile and well-tenanted premises to their portfolio.
To the rear of the property is a carpark and scrubland. this may allow for further development.
Location
George Street, is located just off of Commercial Street, one of the main shopping thoroughfares in the town of Pontypool.
The property is within close-proximity to local and national retailers including Iceland, Poundstretcher and Greggs.
There is a car park a short walk from the premises, as well as local bus links.
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.
Virtual Tour
Tenancy
| Tenant | Tenancy Type | Start Date / End Date | Tenancy Term | Rental Amount |
|---|---|---|---|---|
| Unit 1: Child Focussed Children's Services | 1st October 2024 - 30th September 2029 | 5 years | £863 | |
| Unit 2/3: Antiques Shop | 1st October 2024 - 30th September 2029 | 1 year | £325 | |
| Unit 4 | Vacant | Vacant | Vacant | Vacant |
| Unit 5: Highway Footcare | Periodic | £350 |
Tenure
Advised Freehold - to be verified by solicitor
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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Documents
- Terms and Conditions for Unconditional and Conditional Online Auctions
- Reservation Fees & Deposits Explained
- Buyers Guide for Conditional Auctions
- Buyers Guide for Unconditional Auctions
- Sellers Guide for Conditional Auctions
- Sellers Guide for Unconditional Auctions
- Guide to Buying at Auction
Legal Documents
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Auction Finance
As a trusted partner of Paul Fosh Auctions, Together could offer the auction finance you need, when you need it. Visit togethermoney.com for more information.
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