Lot 57 - The Coach House, Edward VII Avenue, Newport, NP20 4NF

  • Unconditional Online Auction Sale
  • Guide Price* : £191,000 +

Addendum

We have now been advised that the current tenant will be vacating the property on the 1st November 2022. Therefore the property will now be sold with vacant possession

Lot 57 - Coach House with Planning Permission for Development/Investor Opportunity

Description

ONLINE AUCTION from 8th NOVEMBER-10th NOVEMBER

Rare opportunity! A detached coach house set on a prominent plot situated in one of the most prestigious streets of Newport being near the ‘Ridgeway’ with its spectacular far reaching views and Nature Reserve. The property is currently arranged as a first floor flat with large garage below. In addition there is off road parking and a front garden. The planning permission grants conversion to a two bedroom house. The vendor has installed new windows and contemporary door frontage to the garage. The flat currently provides lounge, kitchen, two bedrooms and a bathroom with its own stepped entrance. The current rental is £515 pcm though we anticipate a more realistic valuation of approximately rent of £675 pcm. The property is to be sold with tenant in situ. Excellent M4 commuter links via junction 27 is a short drive away and railway station within walking distance with links to Cardiff and London.

PLANNING:
Planning ref: No. 21/0798 granted 14/10/21 Newport Council

Newport (Welsh: Casnewydd) is a city and county borough in Wales, situated on the River Usk close to its confluence with the Severn Estuary, 12 miles (19 kilometres) northeast of Cardiff. With a population of 159,600 at the 2021 census, Newport is the third city in Wales. The City has been going through a large regeneration programme. Newport's travel to work area incorporates much of south Monmouthshire. The city itself has three major centres for employment: the city centre, and business parks clustered around the M4 motorway junctions 24 in the east and 28 in the west. Organisations based in the city include Airbus Defence and Space; the headquarters of the Office for National Statistics the headquarters of the United Kingdom Intellectual Property Office (formerly known as the Patent Office); the General Insurance Division of Lloyds TSB; a large Panasonic manufacturing plant; a manufacturing plant for International Rectifier; the headquarters of insurance comparison site Gocompare; the headquarters of Wales and West Utilities; the shared-service centre for HM Prison Service; the Passport Office for much of the south and west of the UK; and the Wales headquarters of the Charity Commission. There have been calls for a barrage across the River Usk to be incorporated with the M4 relief road, so that the level of the river would stay permanently at high tide level, although possible plans for a Severn barrage across the River Severn would reduce the need for such a scheme. Newport witnessed the fastest growth in property values in the UK during 2018.

Accommodation

First Floor: Lounge, kitchen, 2 bedrooms, bathroom
Outside: Front garden, garage, parking area

Council Tax Band

A

Tenancies

The property is let on an assured shorthold tenancy agreement at £515 pcm (£6,180 pa)

INVESTORS: If you are looking for assistance in tenant find and/or management packages, information on rental income/interest potential we have a Lettings Department that can help you. Please call us or email rhys@paulfoshlettings.com for invaluable advice.

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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