1-5 Abergele Road, Colwyn Bay, Conwy, LL29 7RS

Guide Price £130,000 * Plus 5% Buyers Premium + VAT

For sale by unconditional online auction on the 29th of August 2024.

Registration is now open, bidding opens on 29th of August at 17:30 and ends on 29th of August at 19:25.

ATTENTION INVESTORS! INVESTMENT OPPORTUNITY POTENTIALLY GENERATING £25000 PER ANNUM EXCLUSIVE.
A Substantial Three Storey Building In A Prominent Position Within A Popular North Wales Coastal Town, And Which Is Currently Licenced As A House In Multiple Occupation. Comprising A Ground Floor Unit, Currently Let As A Cafe, And One Three Bedroom And One Two Bedroom Apartment, Both Of Which Are Currently Vacant. An Opportunity To Purchase A Property With An Excellent Overall Potential Rental Income Of Circa £25000 Per Annum.

Description

This substantial three storey property is located within Colwyn Bay town centre and within 5 minutes walk of the seafront. The A55 expressway is easily accessible, providing access to all surrounding areas on North Wales.
The ground floor is currently occupied as a Cafe under a 15 Year Lease from 26 February 2015 on Tenant's Internal Repairing and Insuring Terms at A Rent of £8000 Per Annum Exclusive. There is Provision For The Rent To Be Reviewed At the End Of Every Third Year Of The Term And For A Contribution Towards Communal Repairs And Maintenance By Way Of A Service Charge.
The Two Apartments Are Currently Vacant. Both benefit from central heating systems and fitted kitchens and are accessed off a communal staircase which benefits from a fire alarm system and emergency lighting.

ACCOMMODATION
Ground Floor 106.23 sq.m (1144 sq.ft.)
Basement 23.11 sq.m. (249 sq.ft.)
W.C's


Apartment 1
Entrance hallway. Wall mounted boiler
Kitchen - Wall and base units with built in electric oven and hob and extractor.Single drainer sink unit. Vinyl floor. Radiator
Lounge area - Bay window. Radiator
Bedroom 1 - Bay window. Radiator
Bedroom 2 - Window to rear. Radiator
Bathroom - Shower, wash hand basin, wc, heated towel rail, window to rear.

Apartment 2
Entrance hallway - Wall mounted boiler. Radiator
Lounge/Kitchen - Part laminate/part tiled floor. Bay windows to front and side, with part sea view. Radiator. Fitted wall and base units to kitchen area incorporating integral electric oven and hob, extractor hood and single drainer sink.
Bedroom 1 - Window to front. Radiator. Walk in cupboard
Bedroom 2 - Windows to front and side. Radiator
Bedroom 3 - Window to front. Radiator.
Bathroom - Bath with shower over. WC, Wash hand basin, Heated Towel Rail.

THIS SALE WILL BE SUBJECT TO VAT AT THE APPROPRIATE RATE

Tenure
Freehold

Legal Pack
A legal pack is a collaboration of important documents of the property or land that is going to be sold at auction. To review the legal pack, click the Legal Documents button at the bottom of this advert or visit tcpa.co.uk.

Auction Information.
To view the auction information, click the Online Bidding button at the bottom of this advert or visit tcpa.co.uk.

UNCONDITIONAL LOT Buyers Premium Applies Upon the fall of the hammer, the Purchaser shall pay a 5% deposit and a 5%+VAT (subject to a minimum of £5,000+VAT) buyers premium and contracts are exchanged. The purchaser is legally bound to buy and the vendor is legally bound to sell the Property/Lot. The auction conditions require a full legal completion 28 days following the auction (unless otherwise stated).

Pre Auction Offers Are Considered
The seller of this property may consider a pre-auction offer prior to the auction date. All auction conditions will remain the same for pre-auction offers which include but are not limited to, the special auction conditions which can be viewed within the legal pack, the Buyer's Premium, and the deposit. To make a pre-auction offer we will require two forms of ID, proof of your ability to purchase the property and complete our auction registration processes online. To find out more information or to make a pre-auction offer please contact us.

Special Conditions
Any additional costs will be listed in the Special Conditions within the legal pack and these costs will be payable on completion. The legal pack is available to download free of charge under the LEGAL DOCUMENTS'. Any stamp duty and/or government taxes are not included within the Special Conditions within the legal pack and all potential buyers must make their own investigations.

Material Information
Material information will be provided within the legal pack- to download visit our website tcpa.co.uk.

Auctioneer Notes
The vendor reserves the right to withdraw the property for sale before the auction end date. Cash buyers or pre-approved mortgages/finance only.