DEVELOPMENT | PONTYPOOL, 12 bedroom, Flat - 33792555

*** WITHDRAWN *** ADDRESS | Former Bank 4 Hanbury Road, Pontypool, Gwent NP4 6YE Lot Number 38 The Live Online Auction is on Wednesday 18th June 2025 @ 17:30 Registration Deadline is on Monday 16th June 2025 @ 16:00 The Auction will be streamed LIVE ONLINE via the Hollis Morgan website & you can chose to bid by telephone, proxy or via your computer. Registration is a simple online process – please visit the Hollis Morgan auction website and click “REGISTER TO BID” The vendors have issued a guide price range of £150,000 - £200,000. An imposing Grade II Listed Freehold period property, a former Lloyds Bank, occupying a highly desirable and prominent position within the area. This substantial building presents a unique opportunity for redevelopment or continued commercial use, subject to relevant consents. A significant feature is the extensive car parking provision to the rear, accommodating approximately 14 vehicles, making it exceptionally well-suited for businesses or residential conversion requiring ample parking in a prime location. The property has accommodation ( 5782 Sq Ft ) over 3 floors plus a large basement in this sought after location. Sold with vacant possession. Tenure - Freehold Utilities, Rights & Restrictions - Please refer to the Legal Pack Flood Risk - Please refer to the Legal Pack PLANNING GRANTED | MIXED USE SCHEME Planning has been granted to convert the property into a mixed use scheme of 6 apartments and a large commercial ( scope to split commercial into 2 units ) 24/P/0618/FUL | Change of use to former Bank create six residential flats (C3 Use). Retention of partial A2 Use to Ground Floor and basement. PROPOSED RESIDENTIAL SCHEDULE OF ACCOMODATION Unit 1 – 42.6 Sq m | 458 Sq Ft Unit 2 – 30.3 Sq m | 326 Sq Ft Unit 3 – 51.6 Sq m | 555 Sq Ft Unit 4 – 47 Sq m | 505 Sq Ft Unit 5 – 39 Sq m | 419 Sq Ft Unit 6 – 38 Sq m | 409 Sq Ft BREAK-UP GDV We understand the break-up value of each individual flat to be circa £100,000 once completed. The commercial unit has scope to be split into 2 separate units, which should achieve in the region of £190,000. Total GDV of £790,000. RENTAL APPRAISAL We understand each flat could let for £650 pcm ( £46,800 pa ). If split into 2, the commercial units could let for £130 pw each/£260 pw in total ( £13,520 pa ). Total Rental Income - £60,320 pa. Reference24/P/0618/FUL Alternative ReferencePP-13439463 Application ReceivedTue 01 Oct 2024 Application ValidatedMon 18 Nov 2024 AddressFormer Lloyds Bank Hanbury Road Pontypool Torfaen NP4 6YE ProposalChange of use to former Bank create six residential flats (C3 Use). Retention of partial A2 Use to Ground Floor and basement. StatusGRANTED Appeal StatusNot Applicable Appeal DecisionNot Applicable Reference24/P/0619/LBC Alternative ReferencePP-13439678 Application ReceivedTue 01 Oct 2024 Application ValidatedMon 18 Nov 2024 AddressFormer Lloyds Bank Hanbury Road Pontypool NP4 6YE ProposalChange of use to former Bank to create six residential flats. Retention of partial A2 Use to Ground Floor and Basement. Works to include the following: Replacement joinery and altered structural apertures. Reconfiguration of internal layout, installation of thermal, acoustic and fire insulation, mechanical and electrical works and automated fire suppression system. Installation of a new staircase from First to Second Floor. StatusGRANTED Appeal StatusNot Applicable Appeal DecisionNot Applicable Full details of the proposed scheme and drawings can be downloaded with the online legal pack. Julian Ings Ringley Law 0330 174 7747 [email protected] https://ringley.co.uk/ EXTENDED COMPLETION Completion is set for 8 weeks or earlier subject to mutual consent. We have been informed by our client’s solicitors that the legal pack for this lot is now complete. Should any last minute addendums occur you will be automatically notified by email. If the vendors have indicated they are willing to consider pre-auction offers, now is the time to submit your offer by completing the pre-auction offer form.