Lot -
Auction
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White Swan Court, Priory Street, Monmouth, NP25 3NY

Auction
United Kingdom
Mixed Use
Commercial

*GUIDE PRICE £850,000

Bidding deposit £9,000 *fully refundable if unsuccessful bidder

Extension period added...

Auction Date 20 October
Closing Time 09:00:00 (GMT+1)

Property Viewings

Please contact us to discuss viewings for this property.
Phone
+44 (0) 20 7703 4401
Email
info@uk.bidx1.com

Property Summary

  • By order of the Trustees in Bankruptcy
  • Freehold multi-let investment
  • Comprises 20 retail, office and residential units
  • Asset management opportunities including letting of vacant units and residential conversions, subject to planning
  • Additional development potential, subject to planning
  • Part vacant, currently producing £63,980 per annum

Contact Us

John Connolly
John Connolly
Property Agent, here to help.
James Boschat
Vendor's Solicitor

Contact Us

John Connolly
John Connolly
Property Agent, here to help.
James Boschat
Vendor's Solicitor

Downloads

Property description

White Swan Court comprises two buildings of traditional construction either side of an attractive courtyard that offers a boutique shopping experience linking Priory Street and the pedestrianised Church street. At ground level there is a clothes shop, confectionary shop, flower shop, double unit cafe with outdoor seating and a vacant unit. The uppers comprise a tattoo studio, craft shop, six vacant self-contained offices of varying size (refer to schedule below) and three flats. The scheme provides several asset management opportunities, as well as scope for conversion to flats, subject to planning, along with further add-value development opportunity.

The plan as per the pictures is for illustrative purposes only. Prospective purchasers are advised to refer to the legal pack for precise boundaries.

Location

Monmouth is a historic market town on the English/Welsh border, approximately 30 miles north of Bristol, 31 miles west of Cheltenham and 30 miles north east of Cardiff.

The A40 runs past Monmouth, linking the south east of Wales with the west of England via the M50. Regular bus services run between the town and Hereford, Ross-on-Wye, Coleford, Chepstow, Newport and Abergavenny.

White Swan Court is situated at the top of Monmouth town centre where Monnow Street meets Priory Street, the main shopping thoughfare in the town. It is an attractive, established shopping court and can be accessed via the main entrance on Priory Street or Church Street at the rear. Monmow Street affords ample public parking. Neighbouring occupiers include Iceland, Santander, Barclays and Wetherspoon.

Planning

Monmouthshire County Council (01633 644644) https://www.monmouthshire.gov.uk/view-planning-applications/

Tenure

Freehold

Additional Details

Unit

Floor

Use

Size (7)

Tenancy

Rent (£pa)

1

Upper

Residential

Not inspected

Unknown

£7,200

2

Upper

Tattoo Studio

32 sq m (344 sq ft)

indvidual - 10 year lease expiring 23rd December 2028 (2)

£3,500 (1)

3 & 4

Upper

Craft shop

60 sq m (646 sq ft)

Individual - Holding over from 19th July 2021

£4,000

5

Ground

Flower shop

46.8 sq m (504 sq ft)

Individual - 3 year lease expiring 28th February 2025 (3)

£9,500

6

Ground

Retail (former salon)

33.5 sq m (361 sq ft)

Vacant

n/a

7

Ground

(Baby) Clothes shop

36.17 sq m (389 sq ft)

Individual - Holding over from 31st July 2020

£7,500

8

Ground

Confectionary shop

29.09 sq m (313 sq ft)

Unknown

£3,000 (4)

9 & 10

Ground

Cafe

95.1 sq m (1,024 sq ft)

Individual - Each unit held on a seperate lease; 7 years expiring 23rd June 2028 (5)

£15,000

11

Unknown

Unknown

Unknown

Unknown

n/a

12

Upper

Office

43 sq m (463 sq ft)

Vacant

n/a

13

Unknown (8)

Unknown

Unknown

Unknown

n/a

14

Upper

Office

38.2 sq m (411 sq ft)

Vacant

n/a

15

Upper

Office

Unknown

Vacant

n/a

16

Upper

Office

24.5 sq m (265 sq ft)

Vacant

n/a

17

Upper

Office

34.9 sq m (376 sq ft)

Vacant

n/a

18

Upper 

Residential

Not inspected

Unknown

£7,140

19

Upper

Office (6)

67.4 sq m (725 sq ft)

Vacant

n/a

20

Upper

Residential

Not inspected

Unknown

£7,140

TOTAL

    

£63,980

 

Both the Auctioneers and Trustees in Bankruptcy have made every effort to ensure the tenancy information provided is accurate. Prospective purchasers should rely on their own enquiries where information is not available via the legal pack

(1) Rent rising to £4,000 from 24th December 2023

(2) Break option on 24th December 2023

(3) Break option on 1st March 2023

(4) Rent from July's monthly invoice (paid). Refer to legal pack for further information (/paid invoices)

(5) Unit 10: Rent review on 23rd June 2024 (tenant in situ from 2009)

(6) May have been converted to a flat

(7) BidX1 have not inspected. All floor areas have been obatined from the vendor and the VOA

(8) Where 'Floor' and 'Use' are 'Unknown', we have not seen or received any reference made to these units on any tenancy schedule(s) or invoices and assume that they for the purpose of address, have been merged with other units

 

VAT

VAT Not Applicable.

Energy Performance Indicator

Refer to Legal Documents



*Terms & Conditions

Buyers are strongly advised to read these terms and conditions, and check the Special Conditions and any applicable Addendum, prior to bidding on a Lot. Additional costs, charges and encumbrances may apply for Buyers once they have made a successful bid in relation to a property.

  1. The reserve price is the minimum price at which the property can be sold at auction.
  2. Where a guide price (or range of prices) is given, that guide is the minimum price at which, or range of prices within which, the seller may be prepared to sell on the date on which the guide price, or range of prices, is published. The sale price, whether prior to or at the auction, can be above or below the guide price depending upon market activity. BidX1 and the seller accept no responsibility for any losses, costs or damages incurred by a buyer as a result of relying on any guide price. The buyer must decide how much they should bid for any Lot. All guide prices are quoted subject to contract. Guide prices given by BidX1 or the seller cannot be accepted by the buyer as being a professional valuation for any purpose in accordance with the requirements or guidance notes of relevant professional bodies or other authorities.
  3. Both the guide price and the reserve price may be subject to change up to and including the day of the auction. Whilst every effort is made to ensure that these guides are not misleading, it is possible that the reserve price set for any Lot may exceed the previously quoted guide price (as the seller may fix the final reserve price just before bidding commences).
  4. The guide price for the Lot does not include the administration fee of £1,295 (inclusive of VAT) for all properties up to £49,999, and £1,500 (inclusive of VAT)for all properties £50,000 and above charged by BidX1. In the case of a joint agent this administration fee will be £2,400 (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.
  5. To participate in the sale BidX1 must hold a minimum amount from all bidders. This participation amount and administration fee is fully refundable in the event that you are not the successful purchaser. For example, a participation fee of £4,795 comprises £3,500 relating to your bidder security (partial deposit payment) and an administration fee payable directly to BidX1. A higher participation amount may be payable depending on the reserve price of the Lot.
  6. Please note that Lots may be sold or withdrawn prior to auction.
  7. All lots sold “Subject to Vendor Confirmation” will be subject to the acceptance and confirmation by the Vendor. The highest bid will be presented to Vendor, the vendor will have to either accept, decline or make a counter offer the highest bid within the confirmation period. Should the Vendor decide to make a counteroffer, then a private link will be sent to the Highest Bidder advising the offer the Vendor is willing to accept. The Highest Bidder will have to either accept or reject the Vendor’s counteroffer. The Vendor reserves the ultimate right, apart from the auctioneer, to accept and to decline to sell to the highest or any bidder, without giving any reasons.
  8. No information, statement, description, quantity or measurement contained in any sales particulars or given orally or contained in any webpage, brochure, catalogue, email, letter, report, docket or hand out issued by or on behalf of BidX1 or the seller in respect of the property shall constitute a representation or a condition or a warranty on behalf of BidX1 or the seller. Any information, statement, description, quantity or measurement so given or contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the seller are for illustration purposes only and are not to be taken as matters of fact. Any mistake, omission, inaccuracy or mis-description given orally or contained in any sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the seller shall not give rise to any right of action, claim, entitlement or compensation against BidX1 or the seller. All bidders must satisfy themselves by carrying out their own independent due diligence, inspections or otherwise as to the correctness of any and all of the information, statements, descriptions, quantity or measurements contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the seller.
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