restaurants in NP7

Mill Street, Abergavenny, Monmouthshire, NP7 5HE

Starting Bid
£320,000
Time left:
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  • Substantial three storey property
  • Ground floor A3 Indian restaurant
  • Currently let for £15,000 per annum
  • Great potential for maisonette above
  • Separate access to ground and upper floors
  • Freehold title

restaurants in NP7

FOR SALE BY ONLINE AUCTION: terms and conditions apply.

We are pleased to offer to auction this substantial three storey property, conveniently located along Mill Street, Abergavenny, Monmouthshire. To the ground floor is an A3 restaurant, let on a verbal agreement to an Indian restaurant for £15,000 per annum. The first and second floors are currently storage space, and offer great potential for conversion to a self-contained maisonette (subject to planning). The property offers an excellent investment opportunity.

Please note we have not inspected this property.

Summary

  • Property Type: Restaurants
  • Tenure: Freehold
  • Parking: On Street

Location

The subject property is located along Mill Street, half a mile south from Abergavenny town centre, Monmouthshire, Wales. The property has great road links and has many services and amenities close by.

Accommodation

GROUND FLOOR
Open plan bar and dining area: 54' 8'' x 21' 5'' (16.65m x 6.52m)
Carpeted flooring, leather seating area, bar with mirrored back, spotlighting, ceiling air conditioning unit, another bar area at rear.

Kitchen: 15' 10'' x 13' 6'' (4.82m x 4.11m)
Stainless worktops, cooker and two sink units, stainless steel shelving rear kitchen area fridge units and boiler and rear access.

Female toilets: 4' 10'' x 8' 4'' (1.47m x 2.54m)
Tiled walls, laminate flooring, white suite hand basin and W.C., hand dryer.

Male toilets: 8' 2'' x 3' 4'' (2.49m x 1.02m)
Tiled walls, laminate flooring, white suite hand basin and W.C., hand dryer.

Entrance
Stairs to hallway, housing boiler

FIRST FLOOR
Potential two storey flat above with entrance through separate outside access.

Bedroom 1: 7' 6'' x 11' 11'' (2.28m x 3.63m)
Window to front elevation, radiators.

Bedroom 2: 11' 4'' x 11' 11'' (3.45m x 3.63m)
Window to rear front elevation, carpeted flooring, radiators.

Reception room: 9' 3'' x 9' 3'' (2.82m x 2.82m)
Laminate flooring, door to roof, radiator.

Bathroom: 7' 4'' x 5' 8'' (2.23m x 1.73m)
White suite comprising bath, W.C., hand basin, frosted window to rear.

Stairs
Up to second floor, potential bedrooms.

SECOND FLOOR
Room 1: 7' 2'' x 7' 9'' (2.18m x 2.36m)
Carpeted flooring, radiator, window.

Room 2: 11' 1'' x 11' 4'' (3.38m x 3.45m)
Carpeted flooring, radiator, window.

Room 3: 10' 5'' x 11' 9'' (3.17m x 3.58m)
Carpeted flooring, radiator, window.

Room 4: 10' 9'' x 9' 1'' (3.27m x 2.77m)
Carpeted flooring, radiator, window.

Lease Details

The ground floor restaurant is currently let on a verbal agreement since 2017 for a rent of £1,250pcm (£15,000 per annum).

Tenure

Freehold. Title number WA352414.

Rateable Value

The adopted rateable value is £7,400 as of 1st April 2017.
Sourced from VOA.

EPC

Available upon request (rating D).

Additional Information

For further information please contact our office direct on 0191 737 1154, or alternatively via e-mail on commercial@pattinson.co.uk. With regards to viewing the subject property, this is to be done strictly by appointment through Keith Pattinson Commercial department. Please contact us to arrange an internal inspection, or to register your interest.

This property is being sold subject to unconditional reservation fee auction terms and conditions.

 

Timescales

Contracts will exchange immediately. There are 28 days in which to complete the purchase.

 

Legal Pack

A legal pack is available to download. Special conditions may apply.

We strongly recommend buyers familiarise themselves with the legal pack prior to bidding.

 

Deposit

In order to secure the purchase a buyer will pay a deposit of 5% which contributes towards the overall purchase price of the property.

The deposit is non-refundable. 

 

Buyer Fees

This property is sold subject to a non-refundable reservation fee of 5% + VAT to a minimum of £5,000 + VAT (£6,000 inc VAT) This does not form part of the purchase price.

A reservation fee is payable by the buyer where a seller has opted to sell with no fees. As a result, a lower reserve price is usually agreed on lots where a reservation fee is applicable.

 

More Information

For more information call our auction experts on 0191 206 9335 or email auction@pattinson.co.uk

 

ONLINE AUCTION NOTICE

Please note that the bidding process will work in a different way to an Ebay auction, so there is NO advantage to bidding at the last second.


Each auction will automatically stay open until there has not been a bid for 15 minutes. After 15 minutes without a bid, the auction will close and the highest bidder will be successful subject to the reserve price being met. If there is another bid within 15 minutes of the last bid, the auction countdown timer will be restarted for another 15 minutes to allow further bidding. This system avoids last minute (or second) bidding, and makes for a fairer auction as in a live room auction situation.


Please bid in good time before the end of the auction, delaying your bid to the last seconds may disadvantage you if your connection slows or you lose internet connectivity. It is the bidder's responsibility to ensure the bid has been lodged with the auctioneer. The auctioneer accepts no responsibility for bids that are not received or are received late, and reserves the right to reject any bid without notice.

 

Minimum online bidding increments:

Up to £50,000 - £250 minimum bid
£50,001 to £150,000 - £500 minimum bid
£150,001 to £250,000 - £1,000 minimum bid
£250,001 to £1 million - £2,000 minimum bid
£1 million+ -  £2,500 minimum bid

Please note this bidding process applies specifically to online auctions.

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