Lot 68 - 116 High Street, Merthyr Tydfil, CF47 8AP

  • Unconditional Online Auction Sale
  • Guide Price* : £300,000+

Addendum

The lot has been sold prior.

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Commercial/Residential Investment Opportunity

Description

ONLINE AUCTION from 8th SEPTEMBER

A substantial four storey building with ground floor retail unit and six residential flats. This impressive building is situated in a prominent position, centrally within Merthyr Tydfil town centre.

Four of the flats are currenty let (with 2 vacant) and the commercial unit which is currently vacant will be ideal for further development.

The flats all benefit from new fitted kitchens and bathrooms and have been given a modern contemporary feel. The town of Merthyr Tydfil has over the last few years benefited from a substantial amount of regeneration and investment including a new retail park, Trago Mills and numerous new independent businesses such as pubs and restaurants.

Accommodation

Floor Area Sq Ft Area Sq M
Basement - Cellar area 1,790.10 166.3
Ground Floor - Open plan area 1,864.37 173.2
First Floor - Via ground floor entrance to rear of building, with security access
Flat 1: Entrance, lounge, kitchen, bedroom, bathroom
Flat 3: Entrance, lounge/kitchen, bedroom, bathroom
Flat 2: Lounge, kitchen, 2 bedrooms, bathroom
1,598.49 148.5
Second Floor
Flat 4: Entrance, lounge/kitchen, bedroom, bathroom, office
Flat 5: Lounge/kitchen, bedroom, bathroom/shower
1,708.29 158.7
Third Floor
Flat 6: Entrance, kitchen/lounge, bedroom, bathroom
1,708.29 158.7
Outside - Small courtyard
Total 8669.54 805.4

Tenancies

Flat 1 is let on AST at £525 pcm
Flat 2 is let on AST at £525 pcm
Flat 5 is let on AST at £575 pcm
Flat 6 is let on AST at £575 pcm
Flats 3 & 4 are currenty vacant but could achieve £525 when let
Total annual income when fully let £39,000
There is potential to let the retail unit for between £8,000-£12,000 per annum

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 £975) 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. 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

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