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Lot 31

6 week completion

Situation

Occupying a prominent position in the town's principal pedestrianised retail thoroughfare which is currently undergoing a programme of improvement works. The property is adjacent to Costcutter/Post Office and Cashino and amongst such other multiple retailers as Ladbrokes, Lloyds Bank, Boots, Savers, Shoe Zone and Tenovous.
Tonypandy lies on the A4119 approx. 6 miles north-west of Pontypridd with easy access to the M4 motorway (Junction 34).

Property

A terraced building comprising a Ground Floor Shop and Basement with a First Floor above which has been sealed off.

Accommodation

Ground Floor Shop
Gross Frontage 20'8"
Internal Width 17'8"
narrowing at rear to 9'11"
Shop & Built Depth 52'9"
WC
Basement Storage
Area Approx. 675 sq ft
First Floor
Not inspected - currently sealed off

VAT is NOT applicable to this Lot

Freehold

Tenancy

The entire property is let on a full repairing and insuring lease to Greggs plc (having over 1,700 branches) (T/O for Y/E 30/12/17 £960m, Pre-Tax Profit £71.9m and Shareholders' Funds £304.5m) for a term of 10 years from 19th July 2013 (in occupation over 30 years) at a current rent of £8,000 per annum exclusive.

Rent Review 19th July 2018 (Landlord quoted £10,000 p.a.)

Note: The tenant did not operate the July 2018 Break Clause.

*Please note:

RESERVE

The 'Reserve' is the minimum figure for which a property can be sold as agreed between the Seller and the Auctioneer. The 'Reserve' is not disclosed and remains confidential between the Seller and the Auctioneer.

GUIDE

Where a 'Guide' is stated, it is an indication of the Seller's current minimum acceptable price ('Reserve') at auction. A 'Guide' is published to assist prospective buyers in deciding whether or not to pursue a purchase.

A 'Guide' does not represent an anticipated sale price or a valuation and the eventual sale price may be higher or lower. The sale price is determined at auction and as such cannot be predicted in advance.

The 'Guide' can be published as follows:

a. 'Reserve below' which means the 'Reserve' will be below the shown amount.
b. A single price figure where the 'Reserve' is not to exceed it.
c. A single price figure with a + symbol where the 'Reserve' is not to exceed that figure by more than 10%.
d. A minimum and maximum price range where the 'Reserve' is to be within that range.

The Seller's expectation as to the sale price may change during the marketing period as a result of interest received from prospective Buyers. Therefore, the Seller may increase or decrease the 'Reserve' at any time up to just before bidding commences. If the 'Reserve' becomes fixed at a level that makes the 'Guide' misleading, the Auctioneers will subsequently issue a revised 'Guide' as soon as is practicable. Accordingly, prospective bidders should monitor the 'Guide' with the Auctioneers prior to the Auction taking place via this website.

In addition to the purchase price the Successful Buyer or Successful Bidder will be liable to pay Barnett Ross Ltd a non-refundable administration fee of £1,500 including VAT or as specified on the Particulars of Sale and there may also be additional non-optional fixed or variable fees and costs. To establish the full cost of purchasing a property please inspect the special conditions of sale and all other documentation in the legal pack. Please also refer to any addendum that may be displayed on this page.

37 Dunraven Street, Tonypandy, Mid Glamorgan CF40 1AL