Lot 114 - 14 Crane Street, Pontypool, NP4 6LY
- Unconditional Online Auction Sale
- Guide Price* : £89,000+
- Bedrooms: 0
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Lot 114 - Commercial Opportunity
Description
ONLINE AUCTION from 10th MARCH-12th MARCH
The property is situated on Crane Street, within Pontypool High Street, and is currently vacant.
We have been informed by the landlord that Heads of Terms have been issued to a soft play operator for a proposed 10-year lease at approximately £25,000 per annum, with a tenant break option at year 5.
The property provides scope to be subdivided into a number of individual units, which could then be let separately to create a varied and potentially strong yielding investment. We understand that the premises were previously generating rental income of £46,000 per annum.
The upper parts may also offer potential for conversion to alternative uses, including residential, subject to obtaining the necessary planning consents.
Tenancies
To be sold with vacant possession
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/admin fee of 1.5% of the purchase price (subject to a minimum of £1,500 for sale prices between £1 and £50,000 or subject to a minimum of £2,400 for sale prices of £50,001 upwards) 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 Unconditional 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.
If considering a mortgage, we advise that you inspect and consider the property carefully with your lender before bidding.
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