Auction House / Wales
  • For Sale By Unconditional Online Auction
  • Guide Price* : £220,000
  • Auction Ended 25/04/2023
  • Lot 22

11 Dillwyn Street, Abertawe, West Glamorgan, SA1 4AQ

Bidding opens Monday 22nd May 2023 at midday and closes Wednesday 24th May 2023 at midday

Description

Bidding opens Monday 22nd May 2023 at midday and closes Wednesday 24th May 2023 at midday

Mixed Use City Centre Investment Opportunity

A substantial mixed use end of terrace investment opportunity comprising of a ground floor retail unit with a 5 bedroom residential HMO occupying the first and second floors. The retail unit is accessed off Dillwyn Street and the HMO has a self contained entrance to the rear. We are advised that the property is currently generating a gross rental income of circa £25,000 per annum.

The ground floor at the property is let on an Effective FRI Lease to Papa John's (GB) Ltd at a passing rent of £12,000 per annum until 09.09.2029. Papa John's has a Creditsafe Rating of 96A - A copy is available on request. The upper floors are currently let on an AST agreement at £1,300per month (exclusive) until 30.06.2023. There is one vacant room at present. Copies of the lease agreements/tenancies are available within the legal pack, and we would advise referring to these for confirmation of income etc.

The property is located in Swansea which is approximately 42 miles west of Cardiff and is regarded as Wales' second main city. The property occupies a good secondary corner location in close proximity to the end of Oxford Street and the large Tesco Extra.

Please note that VAT is payable in addition to the purchase price, refer to the legal pack for clarification.

Ground Floor Ground Floor Sales - 95.32 sq.m
Ancillary 11.49 - sq.m
Total - 106.81 sq.m
First and Second Floor Five double bedroom HMO with fitted kitchen, lounge / diner, 2 shower rooms and a separate WC. There is also a decked roof terrace
Tenure The ground floor is let on an Effective FRI Lease to Papa John's (GB) Ltd at a passing rent of £12,000 per annum until 09/09/2029.There is a tenant break option on 10/09/2024.

The upper floors are currently let on an AST agreement at £1,300 per month (exclusive) until 30/06/2023. There is one vacant room at present.

Copies of the lease agreements are available with the legal pack.
Viewing Schedule Via Auction House Wales. Please call 01633 212555 to book an appointment.

Tenure: See Legal Pack

VAT

VAT is applicable

Important Notice to Prospective Buyers

We draw your attention to the Special Conditions of Sale within the Legal Pack, referring to other charges in addition to the purchase price which may become payable. Such costs may include Search Fees, reimbursement of Sellers costs and Legal Fees, and Transfer Fees amongst others.

Administration Charge

1.2% inc VAT of the purchase price, subject to a minimum of £1200 inc VAT, payable on exchange of contracts.

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* Guide | £220,000
  • Mixed Use
  • Unconditional (Immediate Exchange)

Call the team on 02920 475184 for more information

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Note

  1. MONEY LAUNDERING REGULATIONS: Intending purchasers will be asked to produce identification documentation at a later stage and we would ask for your co-operation in order that there will be no delay in agreeing the sale.
  2. General : While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property.
  3. Measurements: These approximate room sizes are only intended as general guidance. You must verify the dimensions carefully before ordering carpets or any built-in furniture.
  4. Services: Please note we have not tested the services or any of the equipment or appliances in this property, accordingly we strongly advise prospective buyers to commission their own survey or service reports before finalising their offer to purchase.
  5. THESE PARTICULARS ARE ISSUED IN GOOD FAITH BUT DO NOT CONSTITUTE REPRESENTATIONS OF FACT OR FORM PART OF ANY OFFER OR CONTRACT. THE MATTERS REFERRED TO IN THESE PARTICULARS SHOULD BE INDEPENDENTLY VERIFIED BY PROSPECTIVE BUYERS OR TENANTS. NEITHER AUCTION HOUSE NOR ANY OF ITS EMPLOYEES OR AGENTS HAS ANY AUTHORITY TO MAKE OR GIVE ANY REPRESENTATION OR WARRANTY WHATEVER IN RELATION TO THIS PROPERTY.