Lot 72 - 50 Commercial Road, Port Talbot, SA13 1LG

  • Unconditional Online Auction Sale
  • Guide Price* : £225,000+
  • Bedrooms: 5

Lot 72 - Five Bedroom HMO, Commercial Property and Garage for Investment

Description

ONLINE AUCTION from 11th MARCH-13th MARCH

A mixed use development comprising of a ground floor retail unit, two storey garage and 5 bedroomed HMO property.

The ground floor is currently tenanted by a barbers and is achieving £600 per a month. Four of the five rooms in the HMO are currently let and are achieving £500 per a month each.

There is a two storey garage with separate vehicular access to the rear. This is currently leased at £1,920 per a month.

Once fully let, the property is expected to produce an approximate income of £39,120.

Location
The property is conveniently located on the A48, between Margam and Port Talbot town centre. Taibach with its amenities is within close proximity. The M4 junction is within easy access to Swansea and Cardiff.

Business Rates
The current rateable value is £5,600. The property is classified as 'Shop and premises'.

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

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

Accommodation

Floor Description Area Sq Ft Area Sq M
Ground Floor Bathroom 68 6.3
Kitchen 280 26.0
First Floor Bedroom 1 98 9.1
Bedroom 2 75 7.0
Bedroom 3 132 12.3
Bedroom 4 91 8.5
Bedroom 5 170 15.8
Shower Room 31 2.85
Ground Floor Commercial Unit 650 60.36
Rear Garage not inspected not inspected
Total 1,595 148.21

Tenancy

Tenant Tenancy Type Start Date / End Date Tenancy Term Rental Amount
Commercial Unit Edit 14th October 2022 5 years £600 pcm (7,200 pa)
Garage Edit 14th October 2022 5 years £160 pcm (£1,920 pa)
Residential
Bedroom 1 Edit TBC TBC £500 pcm (£6,000 pa)
Bedroom 2 Edit TBC TBC £500 pcm (£6,000 pa)
Bedroom 3 Edit TBC TBC £500 pcm (£6,000 pa)
Bedroom 4 Edit TBC TBC £500 pcm (£6,000 pa)
Bedroom 5 Vacant Vacant Vacant Vacant

Tenancies

INVESTORS: If you are looking for assistance in tenant find and/or management packages, information on rental income/interest potential we have a Lettings Department that can help you. Please call us or email lettings@paulfoshlettings.com for invaluable advice.

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 1.5% of the purchase price (subject to a minimum of £1,500) 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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