Lot 41 - Portland Buildings, 20 Commercial Street, Pontypool, NP4 6JQ

  • Unconditional Online Auction Sale
  • Guide Price* : £125,000+

LOT 41 - Prominent Commercial Development Suitable for Conversion to Mixed Use Commercial and Residential

Description

ONLINE AUCTION from 12th APRIL-14th APRIL

Commercial development located in one of the most prominent positions in Pontypool. This unit is a substantial building which benefits from being situated on the corner of Commercial Street and Market Street, and therefore gains maximum exposure.

The building is currently tenanted by Harris Health and generates a rental income of £12,000 pa. The tenants have signed a five year lease which commenced September 2021. The building is well maintained by the tenants and has benefitted from a full Welsh Office external refurbishment to conservation standard some seven years ago.

The building is comprised of a two storey element and a three storey element, and would suit conversion to a mixed development with potential for a two bedroom flat and a studio. There is also lapsed planning permission to extend the two storey element to create a three story dwelling throughout.

This development is a wonderful opportunity to provide a long term income.

Accommodation

Ground Floor: Open plan reception area, 2 rooms currently used as offices, kitchen, male and female wc
First Floor: Large open plan space currently used as a conference room, ladies and gents wc
Second Floor: Room with cupboard

Tenancies

Harris Health, 5 year tenancy commenced September 2021, £12,000 pa.

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.

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Paul Fosh Auctions
01633 254044

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