Retail Property (High Street)
An investment opportunity comprising a prominent three storey building located at 85 High Street, Blackwood, Caerphilly within an area of both National and local retailers and substantial passing trade both vehicular and by foot.
Caerphilly is located approximately 8 miles North of Cardiff and 9 miles West of Newport. The town is served by the A469 and A468 which provides access to the M4 motorway (Junction 28) approximately 12 miles away.
The property is arranged on basement, ground and two upper floors along with an attic to provide a ground floor banking hall with basement storage and office accommodation. Further ancillary office accommodation is provided on the first floor. The property benefits from parking at the rear for 4 vehicles.
The property provides the following accommodation and dimensions -
Gross Frontage 12.1m
Net Frontage 11.4m
Build Depth 24.5m
Basement Office/Store 108.3 sqm
First Floor Offices 158. 5sqm
Second Floor Staff 44.3 sqm
Attic Store 19.6 sqm
Tenancy
The entire property is let to Barclays Bank PLC for a term of 20 years commencing 19 August 1992. The lease has been renewed on a 5-year lease from 02/08/2023 at £27,000 annually.
We are advised that VAT is not applicable. Interested parties are advised to inspect the legal pack for more information.
Please be advised that the auctioneers have not personally inspected the property. Prospective buyers are advised to make a viewing enquiry and any other necessary independent enquiries before placing their bid, as this will be binding.
Freehold. Subject to tenancy.
Auction Details
The sale of this property will take place on the stated date by way of Auction Event and is being sold as Unconditional with Variable Fee (England and Wales).
Binding contracts of sale will be exchanged at the point of sale.
All sales are subject to SDL Property Auctions Buyers Terms. Properties located in Scotland will be subject to applicable Scottish law.
Auction Deposit and Fees
The following deposits and non- refundable auctioneers fees apply:
• 5% deposit (subject to a minimum of £5,000)
• Buyers Fee of 4.8% of the purchase price for properties sold for up to £250,000, or 3.6% of the purchase price for properties sold for over £250,000 (in all cases, subject to a minimum of £6,000 inc. VAT). For worked examples please refer to the Auction Conduct Guide.
The Buyers Fee does not contribute to the purchase price, however it will be taken into account when calculating the Stamp Duty Land Tax for the property (known as Land and Buildings Transaction Tax for properties located in Scotland), because it forms part of the chargeable consideration for the property.
There may be additional fees listed in the Special Conditions of Sale, which will be available to view within the Legal Pack. You must read the Legal Pack carefully before bidding.
Additional Information
For full details about all auction methods and sale types please refer to the Auction Conduct Guide which can be viewed on the SDL Property Auctions home page.
This guide includes details on the auction registration process, your payment obligations and how to view the Legal Pack (and any applicable Home Report for residential Scottish properties).
Guide Price & Reserve Price
Each property sold is subject to a Reserve Price. The Reserve Price 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. A full definition can be found within the Buyers Terms.
