33 Victoria Square, Aberdare, CF44 7LB

ONLINE AUCTION from 25th JULY-27th JULY We are advised that the property is currently tenanted and is achieving £800 per month rental income, with rental increase to £950 in January 2024. The tenants have recently signed a three year agreement. Based on our guide price of £73,000 this results in a 13.15% yield. The property provides approximately 186.1 sq m (2,003 sq ft) of retail space. Other occupiers in the area include Principality Building Society, Coral and a number of independent traders. Location This property is located in a prominent position on the one way system through Aberdare town centre. Aberdare is located approximately 24 miles north west of Cardiff and 4 miles south west of Merthyr Tydfil. Victoria Square is predominantly commercial with the majority of occupiers being local traders. Services The property benefits from electric, gas and water (not tested). Planning Permission : Planning consent has been granted by Rhondda Cynon Taff County Borough Council for a change of use to provide an A3 licenced retail unit under application No. 17/1129/10. Tenancy Tenant Tenancy Type Start Date / End Date Tenancy Term Rental Amount Tenant 1 Lease 1st February 2023/31st January 2026 3 years from 1st Feb 2023 £800 pa increasing to £950 pa from 1st Jan 2024 Tenancies The property is currently rented on a 5 year lease, with the tenants paying £900 pcm 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.