Auction Property

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Location: 95-96 High Street, Merthyr Tydfil, CF47 8UD

Summary:
Retail investment/redevelopment opportunity

Guide Price: 55,000+

Full Description:

An opportunity to acquire a long standing retail store on Merthyr’s High Street. Manettes has occupied the building for 60 years, with the current owner having occupied the property selling high quality ladies fashions for the last 38 years. The property is a vacant mid-terrace building occupying a town centre position, providing a retail sales area to the ground floor measuring approximately 176sq m (1,900 sq ft) and the first floor providing approximately 189 sq m (2,033 sq ft) of additional retail space and ancillary accommodation.

The property has a double fronted window display onto High Street with smooth painted elevations to the front and painted rough cast rendered elevations to the rear set beneath a flat fibreglass roof, which we have been advised was installed circa 2006.

The property is located in a good position on High Street and in close proximity to Redhouse Cymru (the former Grade II listed Old Town Hall) and Penderyn Square, which is used for a number of public events including Merthyr Rising and the Chilli Festival throughout the year. The site of the former Castle Cinema provides a pleasant amenity space adjacent to Penderyn Square.

The property offers a good investment opportunity for interested parties with its continued retail use or may be suitable for alternative uses including the potential conversion of the first floor into residential apartments, subject to obtaining all necessary consents. Interested parties are advised to contact Merthyr Tydfil County Borough Council’s planning department in this regard.

Merthyr Tydfil is located approximately 23 miles to the north of Cardiff and approximately 20 miles south of Brecon and benefits from good access to the A465 and A470, along with the railway station and new bus station (still under construction). The town centre has a mix of retail outlets, service providers, bars and restaurants along with the popular Cyfarthfa Retail Park and Trago Mills on the outskirts of the town.

Accommodation:

GF: Retail sales area, office, kitchenette, w/c’s

FF: Retail sales area, store rooms

OS: Rear small yard with fire escape from the first floor

Tenure: Advised Leasehold – 99 year lease from November 1st 1963 at a ground rent of £150 per annum. Please refer to the legal pack for details.

Viewing: Strictly by appointment with the auctioneers office, Seel & Co (029) 2037 0117

Guide Price: £55,000+

Additional Fees:

Buyers Premium – 0.5% with minimum of £600 (inc of VAT) payable on exchange of contracts. Please check the legal pack for any further disbursements that may be payable by the purchaser on completion.

Each property sold is subject to a Reserve Price. The Reserve Price, which is agreed between the seller and the auctioneer just prior to the auction, will be within + or - 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. Both the Guide Price and the Reserve Price can be subject to change up to and including the day of the auction.