The property is sold with a 10 year lease not 5 as previously stated and 5 year break clause.
ONLINE AUCTION from 19th OCTOBER-21st OCTOBER
A substantial mixed use investment opportunity comprising a spacious retail unit and self-contained flat above. The property occupies a prominent position in the popular location of Pontnewydd and is close to other traders in the area and also ideal for access to good road links to Newport and the M4 Motorway.
The ground floor has been recently modernised and has rear parking for 2 cars.
The property is sold with a 10 year lease from May 21 (5 yr break clause) on the retail area and an established tenant on an AST in the flat.
Ground Floor: Shop/retail area to front with kitchen and toilet, large rear room, rear door, electric shutters. Leading to rear with modernised outbuilding with w/c’s
Flat: Entrance to side, bedroom to rear, bay windowed lounge to front, kitchen to front, shower room off landing, large attic space
Outside: Parking for two cars and outbuilding
Shop is let on 10 year lease from May 21 at £603 per calendar month (5 yr break clause)
Flat let on AST at £520 per calendar month
Total annual income £13,476
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 £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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