Lot 25 - 28, 30-32 & 36 Church Street, Ebbw Vale, NP23 6BG

  • Unconditional Online Auction Sale
  • Guide Price* : £675,000+
  • Bedrooms: 2

Portfolio of Mixed Use Development Buildings

Description

ONLINE AUCTION from 1st FEBRUARY-3rd FEBRUARY

Portfolio of mixed use development buildings.

This lot consists of three mixed used developments, generating an annual income of £75,336.

An advantage of this property is that the current vendor has renovated these properties so that that each block of flats is completed to a different standard so that they appeal to a number of different tenants.

28 Church Street: The property comprises of two, x2 bedroom flats and one, x1 bedroom flat, all of which have been renovated to a high spec. All flats are currently tenanted. The property has had complete electrical rewire, complete new gas heating system (not tested) and fully fitted kitchens as part of the refurbishment, which occurred 12 months ago. the utilities are separate so the property lends itself to a title split to be 3 individually saleable units rather than one freehold block.
30-32 Church Street: The property comprises of three commercial units and five flats, two of which are two bedroom flats and three, one bedroom flats. The commercial units are being sold with vacant possession, whereas all flats are currently tenanted. The property has gas (not tested), electric and double glazing.
36 Church Street: The property comprises of one commercial unit and four flats, two of which are two bedroom flats and two, one bedroom flats. The commercial unit is being sold with vacant possession, whereas all flats are currently tenanted. The commercial unit has gas (not tested) and electric, and the flats have electric but no gas.

Accommodation

The rental schedule for this is as follows:;

Floor Description Rent
28 Church Street
Ground Floor		 Flat 1 £450 pcm
First Floor Flat 2 £525 pcm
Second Floor Flat 3 £495 pcm
To the rear of the property is parking for approximately two cars.
30-32 Church Street
Ground Floor		 Commercial Unit 1 £385 pcm
Ground Floor Commercial Unit 2 £385 pcm (tenancy to commence shortly)
Ground Floor Commercial Unit 3 £385 pcm (predicted)
First Floor Flat 1 - 2 bedrooms £400 pcm
First Floor Flat 2 - 2 bedrooms £475 pcm (12 month AST)
First Floor Flat 3 - 1 bedroom £425 pcm
Second Floor Flat 4 - 1 bedroom £375 pcm (long term tenant)
Second Floor Flat 5 - 1 bedroom £450 pcm
36 Church Street
Ground Floor		 Commercial Unit 1 £300 pcm (predicted)
First Floor Flat 1 - 2 bedrooms £345 pcm (very long term tenant, but on currently in date AST)
First Floor Flat 2 - 2 bedrooms £313 pcm (long term tenant)
Second Floor Flat 3 - 2 bedrooms £450 pcm
Second Floor Flat 4 - 2 bedrooms £400 pcm
Annual Total £78,696 pa

Tenancies

28 Church Street: All three flats are tenanted and have AST agreements.
30-32 Church Street: Commercial units to the ground floor are to be sold with vacant possession. All flats are tenanted and have AST agreements.
36 Church Street: Commercial units to the ground floor are to be sold with vacant possession. All flats are tenanted and have AST agreements.

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...

Viewing

Paul Fosh Auctions
01633 254044

Office Contact

Debra Bisley

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