Lot 12 - Alexandra House, 1 Caerleon Road, Newport, Gwent, NP19 7BU
- Unconditional Online Auction Sale
- Guide Price* : £408,000+
- Bedrooms: 0
Waiting for video...
Investment Opportunity
Description
ONLINE AUCTION from 2nd FEBRUARY - 4th FEBRUARY
An impressive freehold building, comprising six self contained flats and a ground floor unit currently utilised as a dance studio.
The property has been upgraded to a high standard with the creation of 6 new flats, following the conversion of the first and second floors in 2018. Each flat enjoys all new services with individual smart meters, new kitchens (with fridge/freezer & washer/dryer), bathrooms, flooring and decoration throughout. The property has a proven track record of good occupancy levels and the ground floor dance studio is let to a well established tenant.
The property is ideally situated in Newport city centre and there are excellent road links to the M4 motorway. The property benefits from new UPVC double glazing throughout and each of the flats has electric heating & water, heat extraction/ventilation, broadband connection and intercom door-entry.
VIRTUAL TOUR
Accommodation
Ground Floor: Communal entrance lobby, Dance studio containing reception/parents lounge, kitchen, dance studio, storage areas and wc.
The dance studio has a separate fire exit.
First Floor: Communal landing;
Flat 1: Lounge, kitchen, bedroom, shower room/wc
Flat 2: Lounge, kitchen, bedroom, shower room/wc
Flat 3: Lounge, kitchen, bedroom, shower room/wc
Second Floor: Communal landing;
Flat 4: Lounge, kitchen, bedroom, shower room/wc
Flat 5: Lounge, kitchen, bedroom, shower room/wc
Flat 6: Lounge, kitchen, bedroom, shower room/wc
Tenancies
6 Flats - current average rent is £522 per month = £37,620 pa
Dance studio - £680 per month - (Brand new 5 year lease)
Total income = £45,780 pa
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/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.
Loading the bidding panel...
Office Contact
Documents
- Terms and Conditions for Unconditional and Conditional Online Auctions
- Reservation Fees & Deposits Explained
- Buyers Guide for Conditional Auctions
- Buyers Guide for Unconditional Auctions
- Sellers Guide for Conditional Auctions
- Sellers Guide for Unconditional Auctions
- Guide to Buying at Auction
Related Documents
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.
Share
By setting a proxy bid, the system will automatically bid on your behalf to maintain your position as the highest bidder, up to your proxy bid amount. If you are outbid, you will be notified via email so you can opt to increase your bid if you so choose.
If two of more users place identical bids, the bid that was placed first takes precedence, and this includes proxy bids.
Another bidder placed an automatic proxy bid greater or equal to the bid you have just placed. You will need to bid again to stand a chance of winning.