Auction Property Mixed Use 

Somerset Street, Abertillery

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Features

  • Auction date: 21st & 22nd August 2019
  • Town centre location
  • Freehold with vacant possession
  • Potential high yielding property
  • Substantial four storey property
  • Prominent corner position
  • Ground floor retail approximately 125.3 Sq m (1,349 Sq ft) (taken from VOA)
  • Potential for additional residential conversion (subject to planning)
  • Three 2 bedroom flats over upper floors
  • Excellent transport links

Address

35 Somerset StreetAbertilleryGwentNP13 1DJ
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Property Details

•For Sale By Online Auction – 21st & 22nd August 2019
•Guide Price: £139,000+
•Town Centre Commercial/Residential Opportunity
•Potential for Additional Residential Conversion (Subject to Planning)
•Freehold with Vacant Possession

A substantial four storey property occupying a prominent corner position on Somerset Street, Abertillery. The property was former used as a bank and provides retail accommodation over ground floor level with ancillary office accommodation, kitchen and wc’s over part of the first floor. The accommodation benefits from suspended ceilings with inset light panels, wall mounted split air conditioning units and carpeted floors throughout.

The upper floors provide three self-contained spacious two bedroom flats. The accommodation benefits from UPVC double glazing, mix of gas central heating and electric storage heating (not tested) and fire escape.

The property offers potential to convert the first floor ancillary accommodation to an additional two bedroom residential flat (subject to obtaining the necessary planning consents).

The property is situated on Somerset Street in the town centre of Abertillery where there are a mixture of both national and local traders.

Accommodation

Ground floor: 125.3 Sq m (1,349 Sq ft)
First floor: two offices, kitchen and x3 wc’s
First/second floor: two bedroom flat
Second floor: two bedroom flat
Third floor: two bedroom flat

Services

We understand the property to have mains electricity, gas, water and drainage. However, interested parties are advised to make their own enquires.

Tenure

Freehold

Investment Analysis

The ground floor provides flexible options and offers scope to split into two self contained units. The first floor provides potential to convert the existing ancillary accommodation to a two bedroom flat (subject to the necessary planning consents). Should the property be renovated and let out in its current configuration we envisage an income of £1,900 pcm (£22,800 per annum) could be achievable.

Guide Price

£139,000

Business Rates

The property has a ratable value of £5,100 per annum. Rates payable (2019/20) is approximately £2,680.

VAT

VAT if applicable will be charged at the standard rate.

Buyers Premium

2% (min. £3,600) inc. VAT

Viewings

Viewings are by appointment only. Please contact one of our agents on 0115 970 6060 or email property@johnpye.co.uk

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