Lot 3 Auction

3 Clive Street, Cardiff, CF11 7HJ View map

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Snapshot

FOR SALE BY PUBLIC AUCTION –Three storey, investment property comprising a ground floor shop/office unit and 4 apartments in a landmark location, just outside Cardiff city centre.

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Description

    Three storey, investment property comprising a ground floor shop/office unit and 4 fully let apartments in a landmark location, just outside Cardiff city centre. Please note that the property immediately next door is also being sold by the same vendor as part of this auction and is listed as Lot 28.

    The property itself has generally been well maintained by the current owner and is in in generally good order throughout, though would benefit from some modernisation and improvement in part as and when tenancies vacate in the future. The building itself is of brick and stone construction and also benefits from uPVC windows and doors throughout and well maintained communal areas.

    The shop is currently empty but the four apartments are all fully let on AST's and incomes represent an initial gross yield of 9.3%. The rental schedule is listed below and would certainly have scope for some improvement in our opinion and obviously with additional income potential from the commercial unit. Please do consult the legal pack for verification of all tenancies and rental levels.

    Shop – Vacant.
    Flat 1 - £510pcm
    Flat 2 - £445pcm (Studio)
    Flat 3 - £384.43pcm – (Not inspected but informed 1 bed apartment)
    Flat 4 - £490.00pcm

    Total - £1829.43pcm (£21,953.16) Initial gross yield of 9.3%.

    NB. Please note we are also selling the adjacent property 1 Clive Street as Lot 28 owned by the same vendor. Viewings will be conducted on both properties at similar times.

Accommodation

    GF - Shop unit, Kitchenette, WC. Separate entrance to residential units.
    Flat 1 – Hall, bedroom, living/dining area, kitchen, rear lobby, shower room, rear access.

    FF - Flat 2 - (Studio) - Living/kitchen/bedroom area, shower room,
    Flat 3 – Not inspected but informed one bedroom apartment.

    SF - Flat 4 – Hall, kitchen/living room, bedroom, shower room

    OS - Rear yard accessed via Flat 1 with rear lane access

Tenure

    Presumed Freehold – please refer to legal pack for verification of tenure

Viewing

    Viewing by appointment with Seel and Co (029) 2037 0117

Additional Fees

    Buyers Premium – 1% with a minimum of £1,000 (inc of VAT) payable on exchange of contracts. Please refer to the legal pack for any further disbursements to be paid 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.

Further Information

    Auctioneers Office, Seel and Co (029) 2037 0117

Auction Details

    FOR SALE BY PUBLIC AUCTION on 5 July 2022 online via the Seel and Co website. Bidding will commence from midday on Monday, 4 July and conclude in order from Lot 1 at 4:00 pm on Tuesday, 5 July 2022

Need to know

Please refer to legal pack and auction catalogue prior to bidding.

Please be aware that you cannot bid without having a deposit.

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