Lot 43 - 37 High Street, Merthyr Tydfil, CF47 8DE

  • Unconditional Online Auction Sale
  • Guide Price* : £230,000+

Commercial Investment

Description

ONLINE AUCTION from 13th DECEMBER -15th DECEMBER

The property is comprised of a ground floor retail area with ancillary accommodation to the first floor, totalling approximately 7,800 sq ft/724.64 sq m.

The building is tenanted by Peacocks Stores and is achieving an annual income of £25,000, based on the guide price this provides a 10.87% rental yield.

Peacocks Stores Properties trade from nearly 340 stores across the UK and is one of the largest operators in the increasingly important value clothing sector. Based in South Wales they have a large and loyal customer base in the region.

Location
Located in Merthr Tydfil town centre, this property occupies a prominent location along the pedestrianised High Street, close to The Swan Street junction.There are a number of national operators within close proximity, these include HSBC, 02, Clarkes Shoe Shop, The Card Shop

The area benefits from good transport links to neighbouring towns via the A470 and A465. Additionally, Merthyr Tydfil train station and the new bus station are located approximately a 10 minute walk.

Services
The property benefits from electric and water (not tested).

Business Rates
The property is classified as ‘shop and premises’ and has a rateable value of £42,750.

VAT
We have received confirmation that this property has been elected for VAT.

Accommodation

Floor Area Sq Ft Area Sq M
Total 7,800 724.64

Tenancy

Tenant Tenancy Type Start Date / End Date Tenancy Term Rental Amount
Peacocks Stores Properties Limited trading as Peacocks Internal repairing & insuring subject to a Schedule of Condition 23rd July 2021 10 years with a tenant break clause at 1/1/24 and 1/1/27 £25,000 pa payable monthly in advance

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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Paul Fosh Auctions
01633 254044

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