7 High Street, Chepstow, NP16 5LH

ONLINE AUCTION from 29th AUGUST-31st AUGUST A commercial premises with potential. The property is currently let for £27,000 per annum. However, the tenants are currently not trading and therefore the unit is empty. The tenancy agreement is in place until April 2029, there is a break clause in April 2024. The ground floor of the building briefly comprises of an open plan retail area, kitchen and wc. The top floors of the property have not been inspected as the agent was unable to gain access. There is a good sized garden to the rear. Location The property is located in Chepstow High Street which forms the town's main retailing pitch. The immediate vicinity comprises a mix of national and independent operators including Costa Coffee, Coffee #1, Superdrug, Card Factory, British Heart Foundation, Greggs, Monmouthshire Building Society, WH Smith, Boots, HSBC, Lloyds and Barclays Additionally, there are good bus, road and rail links with the A48, M4 and M48 motorway networks bringing Bristol, Cardiff and Newport all within easy commuting distance. Services The property benefits from electric and water (not tested). Business Rates Current rateable value is £19,750. The property is classified as ‘Shop and premises. Tenancy Tenant Tenancy Type Start Date / End Date Tenancy Term Rental Amount Franchise Int Ltd FRI/IRI April 2019-April 2029 10 years with 5 year break clause £27,000 pa 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.