Lot 6 Auction

4 Pen-y-Lan Road, Cardiff, CF24 3PF View map

Sold STC

Snapshot

FOR SALE BY PUBLIC AUCTION -Fully-let investment property in good condition, in desirable location. Rental income of over £41,000 pa representing an initial gross yield of circa 9.1%

  • 6
  • 6

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Description

    Substantial three storey mid-terrace property in good condition throughout, in this desirable Penylan location. The building itself is of brick and stone construction with rendered rear elevations. The property briefly comprises a lock up shop unit facing Penylan road and four apartments with their own communal entrance.

    This area of Penylan road has seen improvement in recent years with local shops and restaurants on Wellfield and Albany roads as well as Penylan road itself. The parks and cafes of Penylan itself are just a short walk away across Waterloo gardens.

    The apartments are all in very good condition and are fully let on AST's with some scope for rental improvement in our opinion. We are informed that the total rental income for the property is currently £41,040 pa (£3420 pcm) representing an initial gross yield of 9.1% at the guide price, but please consult the legal pack for verification of all tenancies.

    The rental breakdown we have been informed of is;

    Shop unit let to 'The Bottle Shop' - £740pcm (£8880pa)
    Flat A - Two bedroom apartment - £750pcm (£9000pa)
    Flat B - Studio apartment - £450pcm (£5400pa)
    Flat C - One bedroom apartment - £650pcm (£7800pa)
    Flat D - Two bedroom apartment - £720pcm (£8640pa)
    Garage - Let as storage - £110pcm (£1320pa)

    Total - £3420pcm (£41,040pa)

Accommodation

    GF
    Lock up shop unit.
    Flat A - Kitchen/living room. shower room, Bedroom with ensuite shower room, further bedroom.

    FF
    Flat B - Studio - Lobby, shower room, Living/kitchen/bedroom.
    Flat C - Lobby, kitchen/living room, bedroom with ensuite shower room

    SF
    Flat D - Landing, kitchen, store, sitting room, bedroom with ensuite shower, further bedroom, bathroom.

    OS - Side yard with side access from Flat A. Detached rear garage with forecourt.

Tenure

    Freehold – please refer to legal pack for verification of tenure

Viewing

    VR tour online and 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 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.

Further Information

    Auctioneers Office, Seel and Co Ltd (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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