FOR SALE BY AUCTION - LOT 16
FREEHOLD RETAIL INVESTMENT
The property is arranged over the ground floor to provide a retail unit currently let as a convenience store. There is an opportunity to extend above in the future subject to the necessary planning consents. A small delivery yard is situated to the left hand side of the premises.
Location
Markham is situated in the Borough of Caerphilly, is approximately 5 kilometres (3.1 miles) north of Blackwood, and approximately 8.9 kilometres (5.5 miles) south of Tredegar.
Abernant Road (B4511) is the principle thoroughfare through Abernant, and characterised by residential accommodation and a number of shops serving the surrounding residential community. The subject premises are situated on the west side of Abernant Road, in an end terraced position comprising a terrace of five retail units. It is situated to the junction with Pantycefn Road, and backs onto Pen y Werlod Road. To the rear of the property is a housing estate of mainly 1950s style semi detached buildings.
Accommodation
Ground Floor - 1,994 sq ft (185.20 sq m)
Tenancy in place to One Stop Stores Ltd¹ Parent Company Tesco PLC² for a term of 15 years from 24th Nov 2005
Current Rent - £15,000 pa
Reversion - 23rd Nov 2020
Terms
EPC: Refer to Legal pack
No VAT
PRICE INFORMATION
*Guide Price: This is an indication of the seller's current minimum acceptable price at Auction. The guide price is given to assist prospective buyers in deciding whether or not to pursue a purchase. It is usual, but not always the case, that a provisional reserve range is agreed between the seller and the Auctioneer at the start of marketing. As the reserve is not fixed at this stage and can be adjusted by the seller at any time up to the day of the Auction in the light of interest shown during the marketing period, a guide price is issued. This guide price can be shown in the form of a minimum and maximum price range within which an acceptable sale price (reserve) would fall, or as a single price figure within 10% of which the minimum acceptable price (reserve) would fall. A guide price is different to a reserve price (see separate definition). Both the guide price and the reserve price can be subject to change up to and including the day of the Auction. *Reserve Price: The seller's minimum acceptable price at Auction and the figure below which the Auctioneer cannot sell. The reserve price is not disclosed and remains confidential between the seller and the Auctioneer. Both the guide price and the reserve price can be subject to change up to and including the day of the Auction.
ADDITIONAL COSTS
*Please note that the following additional fees will apply to the purchase of your property: 1. A successful purchaser will have to pay a buyer's premium of £750 plus VAT directly to the Auctioneer 2. Other fees as listed within the Special Conditions of Sale that form part of the legal pack which is made available to prospective buyers prior to Auction. Buyers will be will be expected to sign this document as well as the Sales Memorandum at the time of purchase. 3. Stamp Duty will have to be paid in addition to the sale price. Stamp Duty rates are available online 4. Prospective buyers must factor in solicitor fees and any survey fees 5. Insurance - it is the responsibility of the buyer to insure the property purchased from the date of exchange.
Specification
- Gross Income: £15,000 pa
- Gross Yield: 6.25%
- 6 week completion
- Let to One Stop Stores Ltd
- Potential for future development above, side & rear (STPP)
- Situated in a residential area
- Reversion Nov 2020
- Double fronted retail unit