Lot 35 - 1 Charlesville Place, Neath, SA11 1PY

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Lot 35 - 1 Charlesville Place, Neath, SA11 1PY

Addendum

The property has been postponed from auction.

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Guide Price* : £182,000+

  • Unconditional Online Auction Sale

LOT 35 - Commercial Investment

Description

ONLINE AUCTION from 21st JUNE-23rd JUNE

A substantial, three storey building located in the a prime retail area in Neath town centre.

The property expands approximately half the length of Neath Market, from Charlesville Place to the General Market entrance. The site is short travelling distance from the A465 trunk road, Junction 43 of the M4 motorway.

For 100 years this property was used as the printers for the Welsh rugby union and therefore holds a lot of historical significance. In most recent years the property has been leased as a call centre, and is now partially occupied by a cobblers, and claims management company. The property is currently achieving £12,500 per annum, however there is a substantial amount of vacant space which provides potential for additional income.

We have been informed that the previous tenants had ultra-fast broadband installed at the property, therefore this may be able to be reinstated.

Briefly comprised of a separate, tenanted cobblers shop with stockroom to the rear of the building. The main part of the building is comprised of a tenanted office space, and a vacant office space to the ground floor. Three vacant office spaces to the first floor, and an office space on the top floor.

The property would make an ideal rental investment. Additionally, there may be potential for a restaurant, office space or gym (subject to the relevant planning consent).

VIRTUAL TOUR

Accommodation

Ground Floor: Cobblers shop with storeroom (tenanted), office space 1 (tenanted), office space 2 (vacant)
Basement
First Floor: 3 former offices (vacant), ladies and gents wc
Second Floor: office space (vacant) with kitchenette

Accommodation

Property Description Lease Income
TENANT TENANCY TYPE START DATE ANNUAL RENT
Market Shoe Repairs 5 year FRI lease 2017 £5,500
Fair Justice Claims Gentleman’s Agreements (with 3 months’ notice) 2015 (approximately) £7,000
Total £12,500

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* : £182,000+

  • Unconditional Online Auction Sale

LOT 35 - Commercial Investment

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Paul Fosh Auctions

info@paulfoshauctions.com 01633 254044

Office Contact

Debra Bisley

debra@paulfoshauctions.com
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Lot 35 - 1 Charlesville Place, Neath, SA11 1PY

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