ONLINE AUCTION from 17th MAY-19th MAY
This property is located in a mixed use street, within town of Ebbw Vale.
The building is comprised of three commercial units and five flats, two of which are two bedroom flats and three, one bedroom flats. Two out of the three commercial units are currently tenanted as per the tenancy schedule below, all flats are currently tenanted and have good rental history.
The property has gas (not tested), electric and double glazing.
Based on our guide price and the current rental income this property has a 10.93% yield, and a potential 12.4% yield when including the predicted rental values of the commercial units (listed below).
The tenancy schedule is as follows:
|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|
|Monthly Total||£3,280 pcm|
|Annual Total||£39,360 pa|
Commercial units to the ground floor are to be sold with vacant possession.
All flats are tenanted and have AST agreements.
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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