Lot 23 - Former Library, Lion Street, Blaenavon, NP4 9QA
Lot 23 - Former Library, Lion Street, Blaenavon, NP4 9QA
Addendum
Please Note: The property is Leasehold. We have been advised that the Freehold is currently unregistered.
Guide Price* : £190,000+
- Unconditional Online Auction Sale
Lot 23 - Tenanted Commercial Investment
Description
ONLINE AUCTION from 20th JUNE-22nd JUNE
A fully tenanted commercial building with long term tenants.
The property is currently let to two tenants on 10 year leases with an annual rental income of £33,000, (£27,000 and £6,000) based on our guide price of £190,000 this provides a rental yield of 17%.
The building comprises of a three storey building with approximately 4,500 sq ft of office space. We have been informed there was a substantial refurbishment in 2001.
Location
Located on the main high street in Blaenavon, this property holds a prominent core position on the intersection of Lion Street and High Street. The current entrance to the building is via Lion Street public car park which offers free parking to the public.
Ideal for commuters and clients, this property is situated adjacent to Lion Street Bus Station. Additionally, a 10 minute drive to the A465 Heads of the Valleys Road, which provides links to Hereford, Abergavany Brynmawr, Ebbw Vale, Tredegar, Rhymney and Merthyr Tydfil. Cardiff, Newport, Swansea, London and Bristol can also be accessed via the M4 which is only a 30 minute drive.
Services
The property benefits from gas, water and electric (not tested).
VAT
We have been advised that no VAT is applicable on this sale.
Lease Start Date
01/07/1869
Lease Duration
994 years (840 years unexpired)
Tenancy
| Tenant | Tenancy Type | Start Date / End Date | Tenancy Term | Rental Amount |
|---|---|---|---|---|
| UKGI Ltd | FRI/IRI | June 2022/June 2032 | 10 years | £27,000 |
| Tenant 1 | FRI/IRI | June 2022/June 2032 | 10 years | £6,000 |
Tenure
Advised Leasehold - 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* : £190,000+
- Unconditional Online Auction Sale
Lot 23 - Tenanted Commercial Investment
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.
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