Lot 25 - 28, 30-32 & 36 Church Street, Ebbw Vale, NP23 6BG
Guide Price* : £675,000+
- Unconditional Online Auction Sale
- 2 Bedrooms
Portfolio of Mixed Use Development Buildings
Description
ONLINE AUCTION from 1st FEBRUARY-3rd FEBRUARY
Portfolio of mixed use development buildings.
This lot consists of three mixed used developments, generating an annual income of £75,336.
An advantage of this property is that the current vendor has renovated these properties so that that each block of flats is completed to a different standard so that they appeal to a number of different tenants.
28 Church Street: The property comprises of two, x2 bedroom flats and one, x1 bedroom flat, all of which have been renovated to a high spec. All flats are currently tenanted. The property has had complete electrical rewire, complete new gas heating system (not tested) and fully fitted kitchens as part of the refurbishment, which occurred 12 months ago. the utilities are separate so the property lends itself to a title split to be 3 individually saleable units rather than one freehold block.
30-32 Church Street: The property comprises of three commercial units and five flats, two of which are two bedroom flats and three, one bedroom flats. The commercial units are being sold with vacant possession, whereas all flats are currently tenanted. The property has gas (not tested), electric and double glazing.
36 Church Street: The property comprises of one commercial unit and four flats, two of which are two bedroom flats and two, one bedroom flats. The commercial unit is being sold with vacant possession, whereas all flats are currently tenanted. The commercial unit has gas (not tested) and electric, and the flats have electric but no gas.
Accommodation
The rental schedule for this is as follows:;
| Floor | Description | Rent |
|---|---|---|
| 28 Church Street Ground Floor |
Flat 1 | £450 pcm |
| First Floor | Flat 2 | £525 pcm |
| Second Floor | Flat 3 | £495 pcm |
| To the rear of the property is parking for approximately two cars. | ||
| 30-32 Church Street Ground Floor |
Commercial Unit 1 | £385 pcm |
| Ground Floor | Commercial Unit 2 | £385 pcm (tenancy to commence shortly) |
| Ground Floor | Commercial Unit 3 | £385 pcm (predicted) |
| First Floor | Flat 1 - 2 bedrooms | £400 pcm |
| First Floor | Flat 2 - 2 bedrooms | £475 pcm (12 month AST) |
| First Floor | Flat 3 - 1 bedroom | £425 pcm |
| Second Floor | Flat 4 - 1 bedroom | £375 pcm (long term tenant) |
| Second Floor | Flat 5 - 1 bedroom | £450 pcm |
| 36 Church Street Ground Floor |
Commercial Unit 1 | £300 pcm (predicted) |
| First Floor | Flat 1 - 2 bedrooms | £345 pcm (very long term tenant, but on currently in date AST) |
| First Floor | Flat 2 - 2 bedrooms | £313 pcm (long term tenant) |
| Second Floor | Flat 3 - 2 bedrooms | £450 pcm |
| Second Floor | Flat 4 - 2 bedrooms | £400 pcm |
| Annual Total | £78,696 pa |
Tenancies
28 Church Street: All three flats are tenanted and have AST agreements.
30-32 Church Street: Commercial units to the ground floor are to be sold with vacant possession. All flats are tenanted and have AST agreements.
36 Church Street: Commercial units to the ground floor are to be sold with vacant possession. All flats are tenanted and have AST agreements.
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* : £675,000+
- Unconditional Online Auction Sale
- 2 Bedrooms
Portfolio of Mixed Use Development Buildings
Viewing
Paul Fosh Auctions
Office Contact
Debra Bisley
Documents
Auction Finance
As a trusted partner of Paul Fosh Auctions, Together could offer the auction finance you need, when you need it. Visit togethermoney.com for more information.
If considering a mortgage, we advise that you inspect and consider the property carefully with your lender before bidding.
By setting a proxy bid, the system will automatically bid on your behalf to maintain your position as the highest bidder, up to your proxy bid amount. If you are outbid, you will be notified via email so you can opt to increase your bid if you so choose.
If two of more users place identical bids, the bid that was placed first takes precedence, and this includes proxy bids.
Another bidder placed an automatic proxy bid greater or equal to the bid you have just placed. You will need to bid again to stand a chance of winning.