42 Broad Street, Welshpool, Powys, SY21 7RR

Guide Price £135,000 * Plus 5% Buyers Premium + VAT

For sale by Unconditional Online Auction on the 30th of April 2025.

Registration is now open, bidding opens on 30th of April 2025 at 11:00 and ends on 30th of April 2025 at 11:32.

EXCELLENT INVESTMENT OPPORTUNITY FOR DEVELOPERS.
PLANNING PERMISSION FOR CONVERSION AND REDEVELOPMENT TO RESIDENTIAL
4 Apartments with the potential to add 4 further apartments in the rear unit (Subject to planning consent) ** we are informed that there is an agreement in principle with Powys. Buyers should make their own enquiries**

Description
We are pleased to offer to the market for sale by online public auction 42 Broad Street, Welshpool, which offers a great opportunity for investors and developers to acquire and renovate an historic building in the centre of Welshpool.

The property is the former Lloyds Bank building located in the centre of the desirable market town of Welshpool.

In recent years, the principal building has been vacant and has consequently fallen into a poor state of condition. However, to the rear of the main building is a large extension, which is let as a retail unit generating c£3600 pa rental income.

The present owner has acquired planning permission to develop the site into residential apartments. Planning permission has recently been granted to create four one bedroom apartments (Application 24/0684/FUL) and the vendor advises that permission is likely to be granted for four further one bedroom apartments on submission of a separate application. The building will then offer eight modern apartments and a retail unit, which will ultimately provide a strong rental yield for investors seeking to retain the building or for strong capital appreciation on completion and sale.

This is a rare opportunity to acquire an historic and iconic building in a prominent town centre location and viewings are encouraged to appreciate the scope of the offering.

Full details are available within the legal pack.

Whilst listed for sale by auction, the vendor will consider pre-auction offers above the guide price and so interested parties should contact the marketing agents without delay.

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.