Lot 12 - Alexandra House, 1 Caerleon Road, Newport, Gwent, NP19 7BU

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Lot 12 - Alexandra House, 1 Caerleon Road, Newport, Gwent, NP19 7BU

Map view Bid now

Guide Price* : £408,000+

  • Unconditional Online Auction Sale

Investment Opportunity

Description

ONLINE AUCTION from 2nd FEBRUARY - 4th FEBRUARY

An impressive freehold building, comprising six self contained flats and a ground floor unit currently utilised as a dance studio.

The property has been upgraded to a high standard with the creation of 6 new flats, following the conversion of the first and second floors in 2018. Each flat enjoys all new services with individual smart meters, new kitchens (with fridge/freezer & washer/dryer), bathrooms, flooring and decoration throughout. The property has a proven track record of good occupancy levels and the ground floor dance studio is let to a well established tenant.

The property is ideally situated in Newport city centre and there are excellent road links to the M4 motorway. The property benefits from new UPVC double glazing throughout and each of the flats has electric heating & water, heat extraction/ventilation, broadband connection and intercom door-entry.

VIRTUAL TOUR

Accommodation

Ground Floor: Communal entrance lobby, Dance studio containing reception/parents lounge, kitchen, dance studio, storage areas and wc.
The dance studio has a separate fire exit.
First Floor: Communal landing;
Flat 1: Lounge, kitchen, bedroom, shower room/wc
Flat 2: Lounge, kitchen, bedroom, shower room/wc
Flat 3: Lounge, kitchen, bedroom, shower room/wc
Second Floor: Communal landing;
Flat 4: Lounge, kitchen, bedroom, shower room/wc
Flat 5: Lounge, kitchen, bedroom, shower room/wc
Flat 6: Lounge, kitchen, bedroom, shower room/wc

Tenancies

6 Flats - current average rent is £522 per month = £37,620 pa

Dance studio - £680 per month - (Brand new 5 year lease)

Total income = £45,780 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/admin fee of 1.5% of the purchase price (subject to a minimum of £1,500 for sale prices between £1 and £50,000 or subject to a minimum of £2,400 for sale prices of £50,001 upwards) 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.

Guide Price* : £408,000+

  • Unconditional Online Auction Sale

Investment Opportunity

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Office Contact

Sean Roper

sean@paulfoshauctions.com 01633254044
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Documents

Lot 12 - Alexandra House, 1 Caerleon Road, Newport, Gwent, NP19 7BU

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