Lot 12 - 8/10 Monnow Street, Monmouth, NP25 3EE

  • Unconditional Online Auction Sale
  • Guide Price* : £238,000+

Commercial Investment with Potential for Residential

Description

ONLINE AUCTION from 1st FEBRUARY-3rd FEBRUARY

Located on one of the main shopping streets in the town of Monmouth, this property benefits from good levels of footfall.

The ground floor is comprised of two tenanted units, generating a total income of £25,000 per annum, based on the guide price this provides a 10.5% yield.

The top three floors has vacant rooms. There was previously planning consent for residential accommodation, however this has since lapsed – planning reference M01190, alternative reference DC/1997/00339.

The upper floors encompass approx. 1,972 sq.ft (183.20 sq.m)
Ground floor, 8 Monnow Street encompasses approx. 537 sq.ft (49.93 sq.m)
Ground floor, 10 Monnow Street encompasses approx. 705 sq.ft (65.48 sq.m)

Tenancy Details

Floor Description Area Sq Ft Area Sq M Rental
PROPERTY BUSINESS TERM MONTHLY RENT ANNUAL RENT
10 Monnow Street Barbers 5 years commencing Dec 2019 £1,083.33 £13,000
8 Monnow Street Phone shop - Class A1 5 years commencing Dec 2021 £1,000.00 £12,000
Total £2,083.33 £25,000

Ground Floor: 2 commercial units
First Floor: Vacant rooms
Second Floor: Vacant rooms
Third Floor: Vacant rooms

Tenancies

Tenanted – see rent schedule above

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. 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

Viewing

Paul Fosh Auctions
01633 254044

Documents

Share