Forest Parade, Forest Road, Lydney, Gloucestershire, GL15

DESCRIPTION

A terraced purpose built commercial and residential block which comprises of 3 retail/hot food units on the ground floor with 3 residential apartments on the first floor (two spacious two bedroom apartments and one spacious three bedroom apartment). The property is constructed of a mixture of facing brickwork and reconstituted stone under a pitched tiled roof

SITUATION

Lydney town offers a wide range of facilities including a variety of shops, bank, building societies and supermarkets, as well as a sports centre, golf course, hospital, doctors’ surgeries, train station, primary and secondary schools. A wider range of facilities are also available throughout the Forest of Dean including an abundance of woodland and river walks. The Severn crossings and M4 towards London, Bristol and Cardiff are easily reached from this area along with the cities of Gloucester and Cheltenham for access onto the M5 and the Midlands.

ACCOMMODATION

A terraced purpose built commercial and residential block which comprises of 3 retail/hot food units on the ground floor with 3 residential apartments on the first floor (two spacious two bedroom apartments and one spacious three bedroom apartment). The property is constructed of a mixture of facing brickwork and reconstituted stone under a pitched tiled roof

PLANNING

Freehold development site with planning permission (Ref: P1175/24/FUL)

TENURE

The property is Leasehold and subject to several tenancy agreements. Flat 1 – 2,000 years from September 1988 Flat 2 – 99 years from September 1998 Flat 3 – 99 years from September 1998 Unit 5 – 2,000 years from September 1998 Unit 5a – 2,000 years from September 1998 Unit 6 – 2,000 years from September 1998

SERVICES

TBC

RATABLE VALUE

The April 2023 Business Ratings assessments lists all 3 retail units as 'shop and premises'. Individual assessments listed below and are the responsibility of the tenant. Rent roll for commercial shop/restaurant units - £2,235 pcm (inclusive of VAT) Rent roll for residential apartments - £1,486 pcm Please note: this portfolio is owned by a Limited Company therefore is VAT registered, however there is no VAT appertaining to the residential units.

QUOTING TERMS

£575,000 for the portfolio/Leasehold interest, subject to the existing tenancy agreements.

LEGAL COSTS

Each party will be responsible for their own legal fees involved in the transaction. The purchasers will indemnify the vendor in respect of their reasonable legal costs in the event of withdrawing from the transaction following the receipt of the contract.

ENERGY PERFORMANCE CERTIFICATES

1 Forest Parade (top floor flat) - 60 sq/m - Energy rating F 2 Forest Parade (top floor flat) - 60 sq/m - Energy rating E 3 Forest Parade (top floor flat) - 98 sq/m - Energy rating E Unit 5 (retail) – 66 sq/m - Energy rating C Unit 5a (restaurant) – 68 sq/m - Energy rating C Unit 6 (restaurant) – 55 sq/m - Energy rating C

VIEWING

Strictly by appointment with David James Tel: Or with our joint agent Dave Toombs – Toombs and Toombs Tel:

LOCAL AUTHORITY

Monmouthshire County Council -