Lot 12 - 36 Church Street, Ebbw Vale, NP23 6BG

  • Unconditional Online Auction Sale
  • Guide Price* : £190,000+
  • Bedrooms: 2

Addendum

This property has sold prior to auction.

Commercial/Residential investment

Description

ONLINE AUCTION from 8th MARCH-10th MARCH

This property is located in a mixed use street, within the town of Ebbw Vale.

The building is comprised of one double fronted commercial unit and four flats, two of which are two bedroom flats and two, one bedroom flats. The commercial units are being sold with vacant possession, whereas all flats are currently tenanted and have good rental history.

The tenants are currently paying a below market value. We would consider the market value of these flats to be £385-£395 for flats 1 & 2, £450 for flat 3 & 4.

We would suggest the market value for the commercial unit to be £385.

The commercial unit has gas (not tested) and electric, and the flats have electric but no gas.

Based on our guide price and the current rental income, this property has a 7.38% yield, and a potential 10.71% yield when including the predicted rental values of the commercial units (listed below).

*** PLEASE NOTE THAT THE VENDOR IS SELLING THIS PROPETY AS PART OF A PORTFOLIO . THEREFORE IF LOT 25 SELLS THEN THIS LOT WILL BE WITHDRAWN EVEN IF BIDDING HAS COMMENCED, THE RESERVE HAS BEEN MET OR BIDDING HAS NOT YET CLOSED ***

Accommodation

The tenancy schedule is as follows: ;

Floor Description Rent
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
Monthly Total £1,808 pcm
Annual Total £21,696 pa

Tenancies

Commercial unit to the ground floor is 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.

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