Lot 14 - 1 Norfolk Street, Swansea, SA1 6JQ

  • Unconditional Online Auction Sale
  • Guide Price* : £98,000+
  • Bedrooms: 3

Lot 14 -Mixed use Development with Garage and A5 Licence

Description

ONLINE AUCTION from 7th MARCH-9th MARCH

A three storey mixed use development with garage.

The ground floor is currently tenanted at a monthly rental of £800 paid on a four weekly basis. Established as a successful oriental food takeaway for in excess of 10 years the tenants have reportedly won ‘best takeaway in Swansea’ on a number of occasions.

Please Note: The tenant is due to vacate on 31st March 2023, so the property will be sold with vacant possession.

The top two floors are currently vacant but are comprised of a three bedroom maisonette. Subject to the relevant consents there may be a potential for further development.

To the rear of the property is a garage, which could be used to generate further rental income. Furthermore there is a bakehouse which could allow for further development (subject to the relevant consents).

Additionally, there is a roof garden which provides a first floor entrance to the maisonette.

Location
Located on a predominantly residential street, this property is ideally situated a 5 minute drive from Swansea city centre, and a 4 minute drive to the train station.

Due to its close proximity to the city centre this property is ideal for food takeaway deliveries as well as for commuters.

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

Business Rates
We have been informed that this property is currently exempt from business rates.

VAT
We have been informed that the sale of this property is not subject to VAT.

Council Tax Band

B

Accommodation

Floor Description Area Sq Ft Area Sq M
Ground Floor (Takeaway) Retail Area 243.56 22.62
Kitchen 160.16 14.87
Office 1 131.44 12.21
Food Preparation Room 167.90 15.59
Freezer Storage Room 120.00 11.14
Former Bakehouse Unknown Unknown
First Floor Bathroom 57.75 5.36
Foyer/Former Kitchen 85.68 7.95
Bedroom 1 465 43.19
Living Room 136.32 12.66
Second Floor Bedroom 2 145.14 13.48
Bedroom 3 (divided into 2 rooms)
Room 1 91.2 8.47
Room 2 73.15 6.79

Tenancies

To be sold with vacant possession

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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Paul Fosh Auctions
01633 254044

Office Contact

Debra Bisley

Documents

Auction Finance

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