Auction House London

Lot 58

Barn Conversion - Character Property 

Ty Cwm

River Row, Cwm, Ebbw Vale, Gwent, NP23 7TJ

Sold for £250,000.

A Substantial Freehold Detached Building Arranged to Provide Thirty-Seven Letting Rooms. Fully Let Producing £148,000 per annum

Description

The property comprises a detached building arranged over ground and two upper floors. Internally the property is arranged as 37 letting rooms comprising a mixture of 1 bedroom en-suite rooms and bedsits. They each benefit from gas central heating, double glazing, full intercom, internal and external 23 camera system viewable via broadband from anywhere and a full up to date fire protection system. The rooms have been recently refurbished and newly carpeted.

Location

The property is situated in the Cwm area of Ebbw Vale close to local shops and amenities. There are numerous open spaces within easy reach. Transport links are provided by Ebbw Vale Parkway rail station.

Tenancy

The property is subject to 37 individual Assured Shorthold Tenancies at a combined rent of £12,333 per calendar month.

The property benefits from a launderette room with coin operated machines which provide additional income of approximately £11,500 p.a (based on each tenant carrying out 1 wash per week).

Note

Currently there is no planning for the thirty-seven letting rooms.

Accommodation (2nd Column)

Ground Floor
6 En-suite rooms and 8 Bedsit Rooms
Communal Launderette

First Floor
9 En-suite Rooms and 8 Bedsit Rooms

Second Floor
2 En-suite Rooms and 4 Bedsit Rooms

Viewing Details

Wednesday 1st June -12:00-13:00

Bold Black Text

Current Rent Reserved £148,000 per annum

Addendum

Currently there is no planning for the thirty-seven letting rooms.

Amended Guide Price: £250,000+

Additional Fees and Disclaimer

Administration charge: £1,500 including VAT unless otherwise stated in the addendum.

Buyers Premium and Disbursements: Please see the legal pack and the addendum for any disbursements and buyers premium that may be payable by the purchaser on completion.

Particulars including images and video tours on the website and within the catalogue are believed to be correct but their accuracy is not guaranteed. The auctioneers will always endeavour to inform prospective purchasers of variations to the catalogue, when such changes are brought to their attention. The auctioneers nor their clients can be held responsible for any losses, damages, or abortive costs incurred in respect of lots that are withdrawn or sold prior to auction. Viewings are carried out by third party agents and we will endeavour to give appropriate notice should the published viewing time change. Auction House London will not be liable for any costs or losses incurred due to viewing cancellations or no shows. Information relating to Rating matters has been obtained by verbal enquiry only. Prospective purchasers are advised to make their own enquiries of the appropriate authorities. Prospective purchasers are deemed to verify for themselves whether tenanted properties are occupied and rents are being paid. All measurements, areas and distances are approximate only. Potential buyers are advised to check them. No representation or warranty is made in respect to the structure of any properties nor in relation to their state of repair. Prospective buyers should arrange for a survey of the particular lot by a professionally qualified person.

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For further information, please register for the legal pack. To speak to a member of our team about this lot, please call us on 020 7625 9007 or email us at info@auctionhouselondon.co.uk

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