Lot 45 - 20 Commercial Street, Pontypool, NP4 6JQ

  • Unconditional Online Auction Sale
  • Guide Price* : £138,000+

Prominent Commercial Development Suitable for Conversion to Mixed Use Commercial and Residential

Description

ONLINE AUCTION from 8th DECEMBER - 10th DECEMBER

Commercial development located in one of the most prominent positions in Pontypool. This unit is a substantial building which benefits from being situated on the corner of Commercial Street and Market Street, and therefore gains maximum exposure.

The building is currently tenanted and holds a Wales Assembly Funded FRI Lease which generates a rental income of £15,750 pa, the lease ends August 2021. The building is well maintained by the tenants and has benefitted from a full Welsh Office external refurbishment to conservation standard some 7 years ago.

The building is comprised of a two storey element and a three storey element, and would suit conversion to mixed a mixed development with potential for a two-bedroom flat and a studio. There is also lapsed planning permission to extend the two storey element to create a three story dwelling throughout.

This development is a wonderful opportunity to provide a long term income.

Accommodation

Ground Floor: Open plan reception area, 2 rooms currently used as offices, kitchen, male and female wc
First Floor: Large open plan space currently used as a conference room, ladies and gents wc
Second Floor: Room with cupboard

Tenancies

Wales Assembly Funded FRI Lease @ £15,750 PA ends August 2021

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 £750) 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. 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.

Bidding not yet open
Minimum Opening Bid

£130,000


Bidding Opens On
8th Dec 2020 12:00
End Date

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Office Contact

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Paul Fosh Auctions, 01633 254 044
01633 254044

Documents

Legal Documents

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