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SOLD STC

1 Clive Street, Cardiff

Key features

  • FOR SALE BY PUBLIC AUCTION –Three storey, investment property comprising a large ground floor shop/office unit and 2 apartments in a landmark Cardiff location, just outside the city centre.
  • Online Auction: 5 July 2022 at 4:00 pm via the Seel and Co website

Property description

SALE BY PUBLIC AUCTION: The auction will take place online on 5 July 2022 at 4:00 pm with registration through our website

Description - Three storey, investment property comprising a large ground floor shop/office unit and 2 fully let apartments in a landmark location, just outside Cardiff city centre. Please note that the property immediately next door is also being sold by the same vendor as part of this auction and is listed as Lot 2. However, this property will be immediately withdrawn from the sale if Lot 2 does not reach its reserve price or is withdrawn.

The property itself has generally been well maintained internally by the current owner and is in a generally satisfactory order throughout, though would benefit from some modernisation and improvement in part as and when tenancies vacate in the future. The building itself is of brick and stone construction and also benefits from uPVC windows and doors throughout and well maintained communal areas.

The shop is currently empty but both apartments are let on AST's. The rental schedule is listed below and we understand rental increases have been agreed by the current tenants. There is obviously additional income potential from the vacant commercial unit but with the agreed rental increases on the apartments, there is still a gross yield of 7.3% even with the empty commercial unit. Please do consult the legal pack for verification of all tenancies and rental levels.

Shop – Vacant.
Flat 1 - £600pcm. Agreed increase to £650 from 1st June
Flat 2 - £540pcm. Agreed increase to £560 from 1st July.

Total - £1140pcm increasing to £1210pcm from 1st July (£14,520pa). Gross yield of 7.3%.

NB. Please note we are also selling the adjacent property 3 Clive Street as Lot 2 owned by the same vendor. Viewings will be conducted on both properties at similar times.

Accommodation - GF - Shop unit with mezzanine office space and WC.
FF - Flat 1 - Hall, sitting room, bedroom, kitchen, shower room.
SF - Flat 2 - Hall, sitting room, bedroom, kitchen, shower room.

Tenure - Presumed Freehold – please refer to legal pack for verification of tenure

Viewing - Viewing by appointment with Seel and Co

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

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

Brochures

1 Clive Street, CardiffLegal PackBrochure

Council TaxA payment made to your local authority in order to pay for local services like schools, libraries, and refuse collection. The amount you pay depends on the value of the property.Read more about council tax in our glossary page.

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1 Clive Street, Cardiff

NEAREST STATIONS

Distances are straight line measurements from the centre of the postcode
  • Grangetown Station0.1 miles
  • Cardiff Central Station0.7 miles
  • Ninian Park Station0.8 miles
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About the agent

Seel & Co Ltd, Cardiff - Auctions

Desg, 11-13 Penhill Road, Pontcanna, Cardiff, CF11 9PQ

Seel & Co’s property auction department was established in April 2000 and since then the team have disposed of nearly a quarter of a billion pounds of assets and sold approximately 3,500 lots. Seel & Co are expert in the disposal of both residential and commercial property including retail, industrial, offices and licensed trade as well as development land & property, commercial and residential ground rents (and wasting Leasehold interests), commercial and residential investments and agricult

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Disclaimer - Property reference 31472134. The information displayed about this property comprises a property advertisement. Rightmove.co.uk makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and Rightmove has no control over the content. This property advertisement does not constitute property particulars. The information is provided and maintained by Seel & Co Ltd, Cardiff - Auctions. Please contact the selling agent or developer directly to obtain any information which may be available under the terms of The Energy Performance of Buildings (Certificates and Inspections) (England and Wales) Regulations 2007 or the Home Report if in relation to a residential property in Scotland.

Auction Fees: The purchase of this property may include associated fees not listed here, as it is to be sold via auction. To find out more about the fees associated with this property please call Seel & Co Ltd, Cardiff - Auctions on 029 2243 0034.

*Guide Price: An indication of a seller's minimum expectation at auction and given as a “Guide Price” or a range of “Guide Prices”. This is not necessarily the figure a property will sell for and is subject to change prior to the auction.

Reserve Price: Each auction property will be subject to a “Reserve Price” below which the property cannot be sold at auction. Normally the “Reserve Price” will be set within the range of “Guide Prices” or no more than 10% above a single “Guide Price.”

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