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ONLINE AUCTION from 16th MAY-18th MAY
A former public house and gymnasium with full planning for five flats and a commercial unit to the ground floor. The planning consent does not fully utilise the floor space available therefore subject to the relevant consents further development may be possible.
The building briefly comprises: entrance porch, main bar, side hallway, kitchen, wash room, boiler room, storage room, bar area, rear hallway, ladies and gents toilets, basement storage and function room to the ground floor. With a further two function rooms, storage room and ladies and gents toilets to the first floor. On the second floor can be found two reception rooms, kitchen, three shower rooms, storage room and four bedrooms. Externally there is parking for approximately five cars to the rear of the property, accessed via the side lane. There is also a balcony on the second floor to the side of the property.
Additionally, we have been informed that the property benefits from having a new roof in August 2021.
We estimate the property to generate around £57,000 per annum, after the renovation works have been complete. The residential flats bring in circa £39,000 and the commercial unit £18,000.
The property is partially fire damaged and we have been advised that this is contained to one area on the first floor.
Located on the main thoroughfare through the village of Gowerton, this property is situated within a five minute walk to Gowerton train station, ideal for commuters to Swansea, Cardiff or Newport.
The property is positioned amongst a number of mixed use developments.
Change of use of ground floor from public house (Class A3) to gymnasium (Class D2), change of use of first floor from gymnasium (Class D2) to three, one bedroom self- contained flats and convert the second floor into two, one bedroom self-contained flats, window alterations and addition of canopy over existing external staircase - Planning Reference: 2018/2112/FUL.
The property benefits from gas, water and electric (not tested).
We have been advised that there is no VAT on the sale of this property.
|Area Sq Ft
|Area Sq M
|Shower Room 1
|Shower Room 2
|Shower Room 3
|Parking to rear
Advised Freehold - to be verified by solicitor
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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