Lot 36 - 1 High Street, Brecon, LD3 7AG

  • Unconditional Online Auction Sale
  • Guide Price* : £190,000+
  • Bedrooms: 0

Lot 36 - Tenanted Commercial Property with Potential

Description

ONLINE AUCTION from 16th MAY-18th MAY

A tenanted commercial property achieving a rental income of £25,000 per annum.

The property is briefly comprised of a ground floor retail unit with former owners accommodation on the first floor. The attic space has been converted and offers further potential (subject to the relevant consents). Additionally, there is basement space which could be utilised.

The property is currently let to Tad Cod until September 2029 subject to a five year break clause option.

Location
Located in Brecon town centre, an affluent and quaint market town in the county of Powys, with links to both the A40 and A470.

The property is situated amongst a number of local and national retailers including but not limited to HSBC, Well Pharmacy, Coffee #1.

Situated in the Brecon Beacons National Park, the town of Brecon is a popular destination for holiday makers, and local days out.

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

Business Rates
Currently paid by tenant.

VAT
We have been advised that there is no VAT due on the sale of this property.

Accommodation

Floor Description Area Sq Ft Area Sq M
Ground Floor Retail Area/Restaurant 1406.19 130.64
Kitchen 177.60 16.5
Storage 194.39 18.06
Basement 384.16 35.69
First Floor Living Room
Bedroom (split into 2 rooms)
Room 1
195.90 18.2
Room 2 75.67 7.03
Kitchen 130.88 12.16
Bathroom 71.68 6.66
WC
Bedroom 172.00 15.98
Second Floor (converted attic space) Room 1 317.53 29.5
Room 2 182.12 16.92
Room 3 222.27 20.65
Room 4 120.55 11.2
Room 5 222.27 20.65

Tenancy

Tenant Tenancy Type Start Date / End Date Tenancy Term Rental Amount
Tad Cod Internal repairing and insuring (plus insurance) 1st Jan 2019 – 31st Dec 2029 10 years £25,000 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 £1,200) 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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