Lot 34 - 2-4 Station Street, Porth, CF39 9NR
Guide Price* : £120,000+
- Unconditional Online Auction Sale
- 2 Bedrooms
LOT 34 - Two Tenanted Commercial Properties and Three Vacant Flats
Description
ONLINE AUCTION from 21st JUNE-23rd JUNE
A three storey, mixed use development located in the town of Porth.
The ground floor is comprised of two commercial units, these being a café and barber shop. Both of the tenants have been residing at the property for approximately 10 years and are paying a monthly rental of £300 each. Based on our guide price, this provides a 6% yield.
There are three two bedroom flats located above the retail units, the current vendor has started renovation work however further work is required. The flats are accessed via a separate entrance on Porth Street. It is anticipated that these flats will each achieve £500 per month rental income once fully refurbished.
Once the property has been refurbished it is anticipated that the property will achieve £2,100 per month rental income, therefore providing a 21% yield based on our guide price.
Accommodation
| Floor | Description | Rent |
|---|---|---|
| Ground Floor | Cafe | £300 pcm |
| Ground Floor | Barber | £300 pcm |
| First Floor - Flat 1 | Kitchen/living room, 2 bedrooms, bathroom | £500 pcm (predicted) |
| First Floor - Flat 2 | Kitchen, living room, bathroom, 2 bedrooms | £500 pcm (predicted) |
| Second Floor - Flat 3 | Kitchen/living room, 2 bedrooms, bathroom | £500 pcm (predicted) |
| Total | £25,200 pa (predicted) |
Tenancies
Commercial Unit 1: Barber shop, tenanted on a gentleman’s agreement, £300 pcm, occupancy
Commercial Unit 2: Café, tenanted on a gentleman’s agreement, £300 pcm, occupancy
Flat 1: Vacant
Flat 2: Vacant
Flat 3: Vacant
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* : £120,000+
- Unconditional Online Auction Sale
- 2 Bedrooms
LOT 34 - Two Tenanted Commercial Properties and Three Vacant Flats
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.