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Lot 4 - 16 Hamilton Terrace, Milford Haven, Pembrokeshire, SA73 3JB

Guide Price* £270,000 +

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Property Type
Commercial Property
Tenure
Freehold
Type
Commercial
Bidder Security Deposit
£3,500*

Property Summary

  • Freehold Mixed-Use Investment producing £8,000 per annum.
  • Currently arranged as commercial over ground, first and part second floors
  • Planning permission granted for 5 self-contained flats.
  • Close to amenities and transport links
  • Part Vacant Possession

Substantial Freehold Mixed-Use Investment producing £8,000 per annum. Offered with Planning permission to convert the first and part second floors into 5 self-contained flats (1 x One Bedroom, 3 x Two Bedroom, 1 x Three Bedroom).

Description

Freehold three floor mixed-use building investment with off street parking to the rear for approximately 8 cars.

Location

Milford Haven is located south of Haverfordwest on the A4076. The property, centrally located within Milford Haven, is situated in a mainly residential catchment area at the junction with Priory Street and is within close proximity to the Milford Marina, where there are local shops and restaurants. Milford Haven railway station is close by giving access into Cardiff, Carmarthen, Swansea and runs through to Manchester Piccadilly.

Tenancy Schedule

Unit Floor Accommodation Tenant Tenancy Rent
Commercial Ground floor Former bank hall / customer area and ancillary space, wc Vacant
(Previously let at £28,600 p.a.)
Commercial First & Second floor Offices Price & Kelway Solicitors Part let on a lease for a term of 10 years from 1/11/2005 (Holding over) £8,000 p.a.
Self-Contained flat Part Second floor - Sold on a long lease for a term of 125 years from 29/9/2005 at a peppercorn ground rent
Outside: Off street parking to the rear for approximately 8 cars Total rent reserved £8,000 per annum together with vacant possession of the ground, part first and part second floors.

Planning

Planning permission was granted by Pembrokeshire County Council on the 11/9/2023 (Ref: 22/0468/PA) for the change of use of the first and second floors into 5 self-contained flats (1 x 1 bedroom, 3 x 2 bedrooms & 1 x 3-bedroom self-contained flats). Copies of the plans and planning permission are available within the legal pack.

Note:We are advised that the combined LHA Rate (Local Housing Allowance Rates) for the area based on the 2024 increase for the proposed development is currently £27,703.52 per annum (source: www.lha-direct.voa.gov.uk), however there is potential to achieve a higher income, but purchasers must rely on their own enquiries in this regard.

Local Authority –Pembrokeshire County Council – 01437 764 551 - www.pembrokeshire.gov.uk

EPC Rating

D

VAT

Please refer to the legal documents

Disclaimer*

* Guide Prices are provided as an indication of each seller's minimum expectation (also known as the 'Reserve Price'). They are not necessarily figures which a property will sell for and may change at any time prior to the auction. Virtually every property will be offered subject to a Reserve Price (a figure below which the Auctioneer cannot sell the property during the auction) which we expect will be set within the Guide Range or no more than 10% above a single figure Guide Price.

The Guide Price for the Lot does not include the Buyers Administration Fee of £1,500 (inclusive of VAT). In addition, the Guide Price does not include VAT on the sale price, or any additional costs, charges or encumbrances that might apply to some Lots and/or some buyers. The Special Conditions of Sale of the seller, and any applicable Addendum, will state if there are other costs, charges or encumbrances and whether the seller has elected to charge VAT on the sale price.

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