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Old Blacksmiths Yard, Fford Y Cain, Llanfyllin, Powys Sy22

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Old Blacksmiths Yard, Fford Y Cain, Llanfyllin, Powys Sy22 A rare opportunity to acquire a residential investment located in popular town of Llanfyllin comprising 12 residential apartments (with further development potential to the site, subject to statutory consents) Price: Offers in excess of £500,000 OLD BLACKSMITHS YARD, FFORD Y CAIN, LLANFYLLIN, POWYS SY22 5DJ (exclusive) FOR SALE - RESIDENTIAL INVESTMENT showing a Net Initial Yield of 9.25% (after allowing for normal purchasers costs) based upon the potential ERV of £48,240 per annum for the property FOR SALE RESIDENTIAL INVESTMENT Old Blacksmiths Yard, Fford Y Cain, LLanfyllin, Powys SY22 5DJ A rare opportunity to acquire a residential investment in the popular town of Llanfyllin comprising 12 residential apartments and further asset management potential. INVESTMENT/PROPERTY SUMMARY 1. The property is currently arranged to provide 12 residential apartments , which are arranged as 6 one bedroomed apartments and 6 two bedroomed apartments. 2. The property provides the opportunity of achieving an Estimated Gross Rental Income of £48,240 per annum. 3. The property offers further significant asset management potential and offers an attractive residential investment opportunity in a sought after town. 4. There is potential for further development within the boundaries of the site, subject to the receipt of statutory consents. 5. A generously sized site, which provides a Total Site Area of approximately 0.24 acres ( 0.098 hectares). PROPOSAL We are instructed to seek proposals for our client’s freehold interest, subject to the existing occupational leases, of offers in excess of £500,000 (five hundred thousand pounds) (exclusive), which shows a net initial yield of circa 9.25%, based upon an Estimated Gross Rental Income of £48,240 per annum after allowing for potential purchaser's costs of stamp duty and acquisition costs of 1.5%. HALLSGB.COM 01743 450 700 FOR SALE RESIDENTIAL INVESTMENT Old Blacksmiths Yard, Fford Y Cain, LLanfyllin, Powys SY22 5DJ SITUATION/LOCATION The property is located in the centre of the sought after market town of Llanfyllin in mid Wales. The town has all local amenities, and at the 2011 census had a population of 1,532 people. LLanfyllin lies in the valley of the River Cain, near the Berwyn Mountains and is approximately 14 miles south west of the town of Oswestry and 15 miles from Montgomery. The town sits on the main route between Welshpool and Bala, and the A490 connects the town to Churchstoke. The property is located in the town centre, which is in an area of mixed commercial and residential development. DESCRIPTION The premises comprise a three storey property, which are arranged to provide a ground floor entrance lobby with 12 residential apartments. The apartments are accessed via a common stairwell, which then provide access to 4 apartments on the first floor and 4 apartments on the second floor. Each floor provides two 2 bedroomed apartments and two 1 bedroomed apartments. The ground floor, which is arranged to provide two 2 bedroomed and two 1 bedroomed apartments, all of which are accessed externally. Two of these apartments benefit from garden areas. The Old Blacksmiths Yard sits in a Total Site Area of approximately 0.24 acres ( 0.098 hectares). The property is of traditional brick construction and was built in the 1970s. It also benefits from a large car park and ancillary areas with some development potential, subject to statutory consents. PLANNING The property is understood to be located in a Conservation Area . The premises are understood to benefit from planning consent for C3 (residential) use under The Town and Country Use Classes Order 1987. HALLSGB.COM 01743 450 700 FOR SALE RESIDENTIAL INVESTMENT Old Blacksmiths Yard, Fford Y Cain, LLanfyllin, Powys SY22 5DJ EPC INTELLECTUAL INFORMATION The EPC ratings are understood to be as follows: An information pack is available from the selling agents upon request. Apartment 1 Rating C FINANCIAL ACT 1989 Unless otherwise stated, all prices and rents quoted are exclusive of Value Added Tax (VAT). Apartment 2 Rating D Any intending purchaser should satisfy themselves independently as to VAT in respect of Apartment 3 Rating D any transaction. It is understood that the property is elected for VAT. Apartment 4 Rating D TENURE Apartment 5 Rating E The freehold interest is offered for sale, subject to the existing Assured Shorthold Tenancies Apartment 6 Rating D under Title Number CYM578346. Apartment 7 Rating D The tenancy schedule is detailed on the following page. Apartment 8 Rating E All the tenancies are on Assured Shorthold Tenancies. Apartment 9 Rating E Further details are available upon request from the selling agents. Apartment 10 Rating E Apartment 11 Rating E Apartment 12 Rating E VAT We understand that the property is currently elected for VAT. It is proposed that the sale should proceed by way of a Transfer of a Going Concern (TOGC). LEGAL COSTS Each party is to be responsible for their own legal costs incurred in respect of this transaction. SERVICES (not tested) We understand that mains water, electricity and drainage are connected to the property. All apartments are understood to benefit from electric heating. HALLSGB.COM 01743 450 700 FOR SALE RESIDENTIAL INVESTMENT Old Blacksmiths Yard, Fford Y Cain, LLanfyllin, Powys SY22 5DJ TENANCY SCHEDULE Old Blacksmiths Yard, Fford Y Cain, Llanfyllin, Powys SY22 5DJ 6 x 2 Bedroom Apartments 6 x 1 Bedroom Apartments Property Rent PCM Rent PA Property Rent PCM Rent PA Flat 1 Old Blacksmiths Yard £300.00 £3,600.00 Flat 7 Old Blacksmiths Yard £300.00 £3,600.00 (2 Bed) AST 17.12.12 AST 28.01.13 Flat 2 Old Blacksmiths Yard £400.00 £4,800.00 Flat 8 Old Blacksmiths Yard £300.00 £3,600.00 (2 Bed) Vacant Vacant 08.02.18 Previous Tenant 30.01.15 - 08.02.18 Flat 3 Old Blacksmiths Yard £300.00 £3,600.00 Flat 9 Old Blacksmiths Yard £320.00 £3,840.00 AST 08.03.18 AST 05.01.18 Flat 4 Old Blacksmiths Yard £300.00 £3,600.00 Flat 10 Old Blacksmiths Yard (2 £400.00 £4,800.00 Bed) AST 19.01.18 AST 30.06.15 Flat 5 Old Blacksmiths Yard £400.00 £4,800.00 Flat 11 Old Blacksmiths Yard (2 £400.00 £4,800.00 (2 Bed) Bed) Vacant AST 10.07.17 Flat 6 Old Blacksmiths Yard (2 £300.00 £3,600.00 Flat 12 Old Blacksmiths Yard £300.00 £3,600.00 Bed) AST 17.12.12 AST 30.09.16 Total Income Received 2015 £44,666.00 Total Income Received 2016 £37,514.00 Total Income Received 2017 £39,723.00 Potential Gross Rental Income £48,240.00 HALLSGB.COM 01743 450 700 FOR SALE RESIDENTIAL INVESTMENT Old Blacksmiths Yard, Fford Y Cain, LLanfyllin, Powys SY22 5DJ ACCOMMODATION The property provides the following accommodation Ground Floor A Ground Floor Communal Hallway leading to first and second floors Apartment 9 - 1 bedroomed Apartment 10 - 2 bedroomed Apartment 11 - 2 bedroomed Apartment 12 - 1 bedroomed First Floor Communal Hallway Apartment 1- 2 bedroomed Apartment 2 - 2 bedroomed Apartment 3 - 1 bedroomed Apartment 4 - 1 bedroomed Second Floor Communal Hallway Apartment 5 - 2 bedroomed Apartment 6 - 2 bedroomed Apartment 7 - 1 bedroomed Apartment 8 - 1 bedroomed HALLSGB.COM 01743 450 700 FOR SALE RESIDENTIAL INVESTMENT Old Blacksmiths Yard, Fford Y Cain, LLanfyllin, Powys SY22 5DJ HALLSGB.COM 01743 450 700 FOR SALE RESIDENTIAL INVESTMENT Old Blacksmiths Yard, Fford Y Cain, LLanfyllin, Powys SY22 5DJ COUNCIL TAX We have made internet enquires and and we have been advised as follows: Apartment 1 Band B Apartment 2 Band B Apartment 3 Band B Apartment 4 Band B Apartment 5 Band B Apartment 6 Band B Apartment 7 Band B Apartment 8 Band B Apartment 9 Band B Apartment 10 Band B Apartment 11 Band B Apartment 12 Band B LOCAL AUTHORITY Shropshire Council, Shirehall, Abbey Foregate, Shrewsbury, Shropshire SY2 6ND Telephone: 0345 678 9000 HALLSGB.COM 01743 450 700 FOR SALE RESIDENTIAL INVESTMENT Old Blacksmiths Yard, Fford Y Cain, LLanfyllin, Powys SY22 5DJ VIEWING Strictly by prior arrangement with the Sole Agents. For more information or to arrange a viewing, please contact: James Evans M: 07792 222028 E: [email protected] Rebecca Welch M: 07908 425525 E: [email protected] Huw Bevan M: 07795 486267 E: [email protected] 01743 450 700 Viewing strictly by appointment through the selling agents. For further information or to arrange a viewing of the property, please contact: James Evans E: [email protected] Rebecca Welch E: [email protected] Huw Bevan E: [email protected] 01743 450 700 IMPORTANT NOTICE Halls have advised their clients on the Code of Practice for Commercial Leases in England and Wales. regard. iii) Neither Halls nor any of their employees has any authority to make or give any representation or warranty Halls, for themselves and for the vendor of this property, or as the case may be, lessor whose agent they are, given notice that: whatsoever in relation to the property. iv) The images show only certain parts and aspects of the property at the time they i) These particulars are intended for guidance only. They are prepared and issued in good faith and are intended to give a fair were taken/created. Any areas, measurements or distances given are approximate only. Any plans are for identification description but do not consitute part of an over or contract. Any information given should not be relied on as a statement or purposes only. v) Any reference to alterations to, or use of, any part of the property is not a statement that any necessary representation of fact or that the property or its services are in good condition.
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