Auction House / Wales
  • For Sale By Unconditional Online Auction
  • Guide Price* : £250,000
  • Auction Ended 19/06/2023
  • Lot 11

25 Bridge Street, Llanbedr Pont Steffan, Ceredigion, SA48 7AA

FOR SALE VIA NATIONAL ONLINE AUCTION. REGISTER TO BID!

Description

Bidding opens Monday 19th June 2023 at 1pm and closes Tuesday 20th June 2023 at 1pm.

Substantial Town Centre Investment

A substantial town centre investment opportunity comprising of two retail units one of which is let and the other being vacant, along with creative art studio to the rear and a 7 bedroom HMO spread over two floors above, with further potential accommodation on the top floor, there is also a car park to the rear.
We understand that the upper floor 7 bedroom HMO accommodation is held on a residential lease to Dunbia LTD, and therefore the income fluctuates as contractual workers can arrive and leave on the basis of short term contract work. Fully let, we understand that the upper floor residential element can produce a maximum gross annual income of £35,360 per annum (7 x £85 p/w). We are advised by the client that the occupation rate fluctuates between a minimum of 4 to a maximum of 7 tenants. One of the retail units is let at £500 a month with the other being vacant, the creative art studio at the rear is generating £300 a month and is let on a tenancy at will basis.

Therefore, we are advised that along with the commercial elements, the property is producing a maximum combined gross annual rental income of £44,960 per annum with a minimum combined gross annual income of £27,280. Scope for income betterment is provided by way of letting the vacant commercial retail unit along with possible secured parking facility subject to all necessary consents and a possible conversion of the top floor accommodation to a separate unit or extending the current HMO accommodation. West Wales Lettings (Lampeter) are currently managing the property and would be happy to continue doing so.

Lampeter is located in the heart of the Teifi Valley is a strategic University Town 12 miles inland from the Cardigan Bay coast of Aberaeron and 20 or so miles North of Carmarthen.

Ground Floor Two retail units having glazed display frontages and retail trading areas with pedestrian access to the high street from a lobby entrance. One of the retail units also benefits from a storeroom to the rear.
The creative art studio is located at the rear of the building and is accessed from under the archway. The accommodation comprises of two large rooms and there are three further store areas from a rear hallway.
There is an externally accessed w/c for all the commercial tenants to use along with a further store and utility room. The residential accommodation is also accessed from the rear of the building.

First Floor Landing, four bedrooms, kitchen/communal room, rear lobby with shower room and separate w/c.
Second Floor Landing, three bedrooms, bathroom.
Third Floor Large loft area with good head height providing possible extension of the current accommodation or a potential separate residential unit subject to all necessary consents.
Outside Good size enclosed car park for numerous vehicles.
Viewings Through our partner agents Morgan & Davies (Lampeter) 01570 423623.

Tenure: Freehold

EPC Rating: D

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 | £250,000
  • 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.