Lot 20 - 19 Newerne Street, Lydney, Gloucestershire, GL15 5RA

  • Unconditional Online Auction Sale
  • Guide Price* : £375,000+
  • Bedrooms: 1

Lot 20 - Commercial/Residential Investment

Description

ONLINE AUCTION from 10th DECEMBER-12th DECEMBER

A three storey, semi detached property comprising of two retail units and four, one bedroom flats. The property is fully tenanted and is currently achieving a rental income of £36,136 per annum. There may be potential for rental increases.

Subject top the necessary planning consents there may be further potential for a rooftop apartment. Plans have been drawn up for this and are included in the legal pack.

Location
Lydney town offers a wide range of facilities including a variety of shops, banks, building societies and supermarkets, as well as a sports centre, golf course, hospital, doctor surgeries, train station, primary and secondary schools. A wider range of facilities are also available throughout the Forest of Dean including an abundance of woodland and river walks.

The Severn crossings and M4 towards London, Bristol and Cardiff are easily reached from this area along with the cities of Gloucester and Cheltenham for access onto the M5 and the
Midlands.

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

Council Tax Band

A

Accommodation

Floor Description Area Sq Ft Area Sq M
Ground Floor-Shop Unit One Reception Area
Glazed door and window to front, storage area, rear hallway, kitchen, WC
455.85 42.35
Ground Floor-Shop Unit Two Retail Area
Window and door to front, kitchen, WC
430.23 39.97
First Floor - Flat One Entrance Hall
Lounge 134.33 12.48
Kitchen 53.60 4.98
Bedroom 101.07 9.39
Bathroom
First Floor-Flat Two Entrance Hall
Lounge 194.50 18.07
Kitchen 63.18 5.87
Bedroom 99.77 9.27
Bathroom
Second Floor-Flat Three Entrance Hall
Lounge 194.50 18.07
Kitchen 63.18 5.87
Bedroom 99.67 9.26
Bathroom
Second Floor-Flat Four Entrance Hall
Lounge 134.33 12.48
Kitchen 53.71 4.99
Bedroom 101.18 9.40
Bathroom

Tenancy

Tenant Tenancy Type Start Date / End Date Tenancy Term Rental Amount
Hair Republic Lydney Ltd IRI 1st April 2023/30th March 2028 5 years £8,000 per annum with rent increase from 2025
Unit 2 - Lydney Foot Care Clinic IRI 2nd December 2023/1st December 2026 3 years £583.33 per month
Flat 1 AST 18th September 2018-Statutory Periodic 6 Months £106 per week
Flat 2 AST 18th March 2016-Statutory Periodic 6 Months £92 per week
Flat 3 AST 16th March 2018-Statutory Periodic 6 Months £106 per week
Flat 4 AST 14th June 2013-Statutory Periodic 6 Months £103 per week

Tenure

Advised Freehold - Retail Units 1 & 2 Leasehold 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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