Lot 41 - 2-4 Station Street, Porth, CF39 9NR
- Unconditional Online Auction Sale
- Guide Price* : £78,000+
- Bedrooms: 2
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Lot 41 - Two Tenanted Commercial Properties and Three Vacant Flats
Description
ONLINE AUCTION from 8th NOVEMBER-10th NOVEMBER
A three storey, mixed use development located in the town of Porth.
The ground floor is comprised of two commercial units, these being a café and barber shop. Both of the tenants have been residing at the property for approximately 10 years and are paying a monthly rental of £300 each. Based on our guide price, this provides a 6% yield.
There are three two bedroom flats located above the retail units, the current vendor has started renovation work however further work is required. The flats are accessed via a separate entrance on Porth Street. It is anticipated that these flats will each achieve £500 per month rental income once fully refurbished.
Once the property has been refurbished it is anticipated that the property will achieve £2,100 per month rental income, therefore providing a 21% yield based on our guide price.
Accommodation
| Floor | Description | Rent |
|---|---|---|
| Ground Floor | Cafe | £300 pcm |
| Ground Floor | Barber | £300 pcm |
| First Floor - Flat 1 | Kitchen/living room, 2 bedrooms, bathroom | £500 pcm (predicted) |
| First Floor - Flat 2 | Kitchen, living room, bathroom, 2 bedrooms | £500 pcm (predicted) |
| Second Floor - Flat 3 | Kitchen/living room, 2 bedrooms, bathroom | £500 pcm (predicted) |
| Total | £25,200 pa (predicted) |
Tenancies
Commercial Unit 1: Barber shop, tenanted on a gentleman’s agreement, £300 pcm, occupancy
Commercial Unit 2: Café, tenanted on a gentleman’s agreement, £300 pcm, occupancy
Flat 1: Vacant
Flat 2: Vacant
Flat 3: Vacant
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 1.5% of the purchase price (subject to a minimum of £1,500) 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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Bidding History 30 Bids
| User | Amount | Date |
|---|---|---|
| Bidder 3 | £126,000 | 10/11/22 18:22:07 |
| Bidder 5 | 10/11/22 18:22:07 | |
| Bidder 3 | £124,000 | 10/11/22 18:21:40 |
| Bidder 5 | 10/11/22 18:21:40 | |
| Bidder 3 | £122,000 | 10/11/22 18:21:26 |
| Bidder 5 | 10/11/22 18:21:26 | |
| Bidder 3 | £120,000 | 10/11/22 18:20:59 |
| Bidder 5 | 10/11/22 18:20:59 | |
| Bidder 3 | £118,000 | 10/11/22 18:20:57 |
| Bidder 1 | 10/11/22 18:20:57 | |
| Bidder 3 | £116,000 | 10/11/22 18:20:54 |
| Bidder 6 | 10/11/22 18:20:54 | |
| Bidder 3 | £114,000 | 10/11/22 18:20:51 |
| Bidder 1 | 10/11/22 18:20:51 | |
| Bidder 3 | £112,000 | 10/11/22 18:20:47 |
| Bidder 1 | 10/11/22 18:20:47 | |
| Bidder 3 | £107,000 | 10/11/22 18:20:42 |
| Bidder 7 | 10/11/22 18:20:42 | |
| Bidder 3 | 10/11/22 18:20:42 | |
| Bidder 7 | £103,000 | 10/11/22 18:20:32 |
| Bidder 5 | 10/11/22 18:20:32 | |
| Bidder 7 | £101,000 | 10/11/22 18:20:17 |
| Bidder 5 | £100,000 | 10/11/22 18:16:09 |
| Bidder 6 | £97,500 | 10/11/22 18:12:34 |
| Bidder 5 | £95,000 | 10/11/22 18:05:54 |
| Bidder 4 | £92,500 | 10/11/22 17:45:58 |
| Bidder 3 | £90,000 | 10/11/22 11:50:31 |
| Bidder 1 | £85,000 | 08/11/22 17:03:40 |
| Bidder 2 | £80,000 | 08/11/22 15:50:23 |
| Bidder 1 | £75,000 | 08/11/22 15:14:11 |
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Office Contact
Documents
- Terms and Conditions for Unconditional and Conditional Online Auctions
- Reservation Fees & Deposits Explained
- Buyers Guide for Unconditional Auctions
- Sellers Guide for Unconditional Auctions
- Guide to Buying at Auction
Related Documents
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.
If considering a mortgage, we advise that you inspect and consider the property carefully with your lender before bidding.
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