Forest Road, Lydney
- PROPERTY TYPE
Mixed Use
- SIZE
Ask agent
Key features
- PROMINENT LOCATION
- FULLY LET
- INCOME OF £45,700 PA
Description
LOCATION
The site benefits from excellent road links both to Chepstow and Gloucester via the A48 to the west and east respectively.
Lydney sits on the Southern Edge of the Forest of Dean in Gloucestershire and along with Cinderford and Coleford is one of the main centres within the area. Lydney is and has in recent years experiencing considerable expansion with hundreds of new homes built/being built. The population is growing.
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.
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
The property portfolio generates a current gross income in the region of £45,700 per annum with potential for further uplift in the rent roll.
SERVICES
mains water, electricity and drainage are connected to the property. THE SERVICES AND CENTRAL HEATING SYSTEMS, WHERE APPLICABLE, HAVE NOT BEEN TESTED.
RATING
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 - Energy rating has been applied for
Unit 5a - Energy rating has been applied for
Unit 6 - Energy rating has been applied for
VIEWING
BY APPOINTMENT WITH THE OWNERS AGENTS. Initial consultation via David Toombs on / .
Brochures
Property BrochureFull DetailsEnergy Performance Certificates
EPCEnergy Performance CertificateEPCEnergy Performance CertificateEnergy Performance CertificateEPCForest Road, Lydney
NEAREST STATIONS
Distances are straight line measurements from the centre of the postcode- Lydney Station0.8 miles
About the agent
Toombs & Toombs Properties was formed by husband-and-wife team, David and Mandy Toombs, to respond to the demands of the modern property market by offering a highly personal, bespoke and agile service.
The Toombs & Toombs Properties' ethos of providing excellent service at a fair price, has been informed by over 40 years' experience in the property industry and listening to our clients and understanding what they want.
Industry affiliations
Notes
Disclaimer - Property reference 12391127. 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 Toombs & Toombs Properties, Lydney. 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.
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