Lot 35 - 1 Charlesville Place, Neath, SA11 1PY
- Unconditional Online Auction Sale
- Guide Price* : £182,000+
- Bedrooms: 0
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Addendum
The property has been postponed from auction.
LOT 35 - Commercial Investment
Description
ONLINE AUCTION from 21st JUNE-23rd JUNE
A substantial, three storey building located in the a prime retail area in Neath town centre.
The property expands approximately half the length of Neath Market, from Charlesville Place to the General Market entrance. The site is short travelling distance from the A465 trunk road, Junction 43 of the M4 motorway.
For 100 years this property was used as the printers for the Welsh rugby union and therefore holds a lot of historical significance. In most recent years the property has been leased as a call centre, and is now partially occupied by a cobblers, and claims management company. The property is currently achieving £12,500 per annum, however there is a substantial amount of vacant space which provides potential for additional income.
We have been informed that the previous tenants had ultra-fast broadband installed at the property, therefore this may be able to be reinstated.
Briefly comprised of a separate, tenanted cobblers shop with stockroom to the rear of the building. The main part of the building is comprised of a tenanted office space, and a vacant office space to the ground floor. Three vacant office spaces to the first floor, and an office space on the top floor.
The property would make an ideal rental investment. Additionally, there may be potential for a restaurant, office space or gym (subject to the relevant planning consent).
VIRTUAL TOUR
Accommodation
Ground Floor: Cobblers shop with storeroom (tenanted), office space 1 (tenanted), office space 2 (vacant)
Basement
First Floor: 3 former offices (vacant), ladies and gents wc
Second Floor: office space (vacant) with kitchenette
Accommodation
| Property | Description | Lease | Income |
|---|---|---|---|
| TENANT | TENANCY TYPE | START DATE | ANNUAL RENT |
| Market Shoe Repairs | 5 year FRI lease | 2017 | £5,500 |
| Fair Justice Claims | Gentleman’s Agreements (with 3 months’ notice) | 2015 (approximately) | £7,000 |
| Total | £12,500 |
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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Documents
- Terms and Conditions for Unconditional and Conditional Online Auctions
- Reservation Fees & Deposits Explained
- Buyers Guide for Conditional Auctions
- Buyers Guide for Unconditional Auctions
- Sellers Guide for Conditional Auctions
- Sellers Guide for Unconditional Auctions
- Guide to Buying at Auction
Related Documents
Auction Finance
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