Lot 51 - Portland Buildings, 20 Commercial Street, Pontypool, NP4 6JQ
- Unconditional Online Auction Sale
- Guide Price* : £115,000+
- Bedrooms: 0
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LOT 51 - Prominent Commercial Development Suitable for Conversion to Mixed Use Commercial and Residential
Description
ONLINE AUCTION from 21st JUNE-23rd JUNE
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/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
Auction Finance
As a trusted partner of Paul Fosh Auctions, Together could offer the auction finance you need, when you need it. Visit togethermoney.com for more information.
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