ONLINE AUCTION from 17th MAY-19th MAY
Located within Newport city centre, and within walking distance of Newport train station, this mixed use development benefits from plenty of footfall.
The property is currently fully tenanted and achieving a good rental yield.
The ground floor and basement is tenanted by national Estate Agents Martin and Co, who will be paying £8,000 per annum.
Located on the first floor of the building is a well presented one bedroom, tenanted flat, currently achieving a monthly rental income of £700.
On the top floor is also a one bedroom flat achieving a monthly rental income of £700.
There is parking for approximately three cars to the rear of the property.
With a total annual income of £24,000 this property would make the ideal investment.
Ground Floor: Retail area
Lower Ground Floor: Head height basement with 3 storage rooms and wc
First Floor: wc
First Floor Flat 1: Kitchen/living room, bathroom, bedroom
Second Floor Flat 2: Kitchen/living room, bathroom, bedroom
Outside: Parking for 3 cars
|Floor||Description||Area Sq Ft||Area Sq M||Rental|
|FLOOR||TENANT||START DATE||END DATE||RENTAL|
|Ground Floor/Lower Ground Floor||Martin & Co||April 2022||April 2029||£8,000 pa|
|First Floor||Flat 1||5th July 2019||Periodic||£550 pcm|
|Second Floor||Flat 2||20th July 2019||Periodic||£550 pcm|
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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