ONLINE AUCTION from 19th OCTOBER-21st OCTOBER
Located on Oxford Street in Swansea, this property provides the perfect opportunity for development. The property is located in a prominent position and is well situated to benefit from the proposed city centre regeneration of the Kingsway and surrounding areas.
There is a potential for the development of 13 residential flats. Planning has currently been obtained for 10 residential flats. Planning application 2019/2672/FUL grants permission for change of use of the second floor from retail use to six self-contained 1 bedroom flats, and one 2 bedroom self-contained flat including 2nd floor rear extension and fenestration alterations. Further planning was obtained for three flats on the first floor under reference 2021/0814/FUL in May 2021.
An application for a further three flats has been declined however there is opportunity for appeal. This is listed under planning reference 2021/1800/FUL
There is currently access to the building via the rear, however there is potential to create additional access to the front.
There is also the possibility of a Welsh Government regeneration grant depending on Government funding. Interested parties should make enquires of the regeneration officer, Craig Fisher, in Swansea Council.
There is no VAT, S106 or CIL.
*** PLEASE NOTE THAT THE VENDOR IS SELLING THE FREEHOLD OF THIS PROEPRTY IN THIS AUCTION (LOT 18). THEREFORE IF LOT 18 SELLS THEN THIS LOT WILL BE WITHDRAWN EVEN IF BIDDING HAS COMMENCED, THE RESERVE HAS BEEN MET OR BIDDING HAS NOT YET CLOSED ***
|Tue 05 Oct - Mon 11 Oct - Mon 18 Oct||10:45|
To be sold with vacant possession
Advised Leasehold - to be verified by solicitor - 999 Year Leasehold
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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