Lot 8 Auction

6 Taff Embankment, Cardiff, CF11 7BE View map

Guide Price £400,000 +

Snapshot

FOR SALE BY PUBLIC AUCTION –Three storey fully let investment property comprising 5 flats in desirable riverfront location, just outside Cardiff city centre.

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Description

    Three storey fully let, bay-fronted investment property comprising 5 flats in desirable riverfront location, just outside Cardiff city centre. The property itself has been maintained well by the current owner and is in in generally good order throughout, though would benefit from some modernisation as and when tenancies vacate in the future.

    The building itself is of brick and stone construction with an attractive bay-fronted bath stone and brick front elevation and painted render rear elevations. The property also benefits from uPVC windows and doors throughout and well maintained communal areas.

    The property is fully let on AST's and incomes represent an initial gross yield of circa 8%. The rental schedule is listed below and would certainly have scope for some improvement in our opinion, however please consult the legal pack for verification of all tenancies and rental levels.

    Flat 1 - £595pcm
    Flat 2 - £525pcm (Studio)
    Flat 3 - £425pcm (Studio)
    Flat 4 - £505pcm
    Flat 5 - £595pcm

    Total - £2645pcm (£31,740pa) Initial gross yield of 7.9%.

    NB. Please note we are also selling No. 32 Taff Embankment as Lot % which is a very similar property owned by the same vendor. Viewings will be conducted on both properties at similar times.

Accommodation

    GF - Communal entrance
    Flat 1 - Living/kitchen area, bedroom, ensuite shower room
    Flat 2 - (Studio) - Living/bedroom area, shower room, kitchen, garden access.

    FF - Communal landing
    Flat 3 (Studio) - Living/kitchen/bedroom, ensuite shower room
    Flat 4 - Lobby, large kitchen/living room into bay, bedroom, ensuite shower room

    SF - Flat 5- Landing, open-plan kitchen/living area, bedroom, ensuite shower room

    OS - Front enclosed yard, rear enclosed rear garden accessed via Flat 2 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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