This lot has been withdrawn from the auction.
ONLINE AUCTION from 27th APRIL-29th APRIL
A substantial freehold building which consists of six high standard apartments, one maisonette and a ground floor office area. The building has been converted in recent years and offers a fantastic opportunity for investment.
The conversion has been done to high specification, which includes gas combination boilers in each apartment (not tested) and bespoke Scandinavian windows. The property is in excellent condition overall.
The building is situated on the corner of Bethel Street which benefits from local amenities and easy access to the M4 motorway and A48 road, making it ideal for commutes to Swansea, Cardiff and beyond. Briton Ferry town centre is nearby and provides a larger selection of amenities, with Neath town centre easily accessible via the A474.
The majority of the building is currently tenanted and there would be a high demand for letting opportunities of this standard in the area.
|Ground Floor||Office Area - 2 office rooms, storage area and access to basement||Currently let on an AST at £200pcm|
|Ground Floor||Flat 5 - Entrance hallway, kitchen, living room, bathroom, bedroom||Currently let on an AST at £470pcm|
|Ground Floor||Flat 6 - Entrance hallway, kitchen, living room, bathroom, bedroom (partially done)||Vacant|
|First Floor||Flat 2a - Entrance hallway, kitchen/dining/living area, bathroom||Currently let on an AST at £500pcm|
|First Floor||Flat 2b - Entrance hallway, kitchen/dining/living area, bathroom, bedroom||Currently let on an AST at £420pcm|
|First Floor||Flat 3 - Entrance hallway, living room, kitchen, bathroom, bedroom||Currently let on an AST at £450pcm|
|First Floor||Flat 4 - Entrance hallway, kitchen/dining/living area, bathroom, bedroom||Currently let on an AST at £470pcm|
|Second Floor||Flat 1 - Entrance hallway, Living room, bathroom, kitchen/diner||Currently let on an AST at £550pcm|
|Second Floor||Flat 2 - Entrance hallway, kitchen/dining/living area, shower-room, bedroom||Currently let on an AST at £450pcm|
|Third Floor||Landing, 2 bedrooms|
|Total current income per annum||£42,120|
Advised Freehold - to be verified by solicitor
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, 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.
This auction is now closed.
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