20 Commercial Street, Pontypool, NP4 6JQ

ONLINE AUCTION from 20th OCTOBER Commercial development located in one of the most prominent positions in Pontypool. This unit is a substantial building which benefits from being situated on the corner of Commercial Street and Market Street, and therefore gains maximum exposure. The building is currently tenanted and holds a Wales Assembly Funded FRI Lease which generates a rental income of £15,750 pa, the lease ends August 2021. The building is well maintained by the tenants and has benefitted from a full welsh office external refurbishment to conservation standard some 7 years ago. The building is comprised of a two storey element and a three storey element, and would suit conversion to mixed a mixed development with potential for a two-bedroom flat and a studio. There is also lapsed planning permission to extend the two storey element to create a three story dwelling throughout. This development is a wonderful opportunity to provide a long term income. Accommodation Ground Floor : Open plan reception area, x2 rooms currently used as offices, kitchen, male and female wc First Floor : Large open plan space currently used as a conference room, ladies and gents wc Second Floor : Room with cupboard Tenancies Wales Assembly Funded FRI Lease @ £15,750 PA ends August 2021 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 of 1.5% of the purchase price (subject to a minimum of £1,500) 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.