LOT 30A - Chepstow Commercial Auction - 23rd March 2021 Virtual Freehold Grade II Listed Nursing Home Sedbury Park Nursing Home, Sedbury, Chepstow, Gwent, NP16 7EY LOT 30A - Chepstow Virtual Freehold Grade II Listed Nursing Home Sedbury Park Nursing Home, Sedbury, Chepstow, Gwent, NP16 7EY GUIDE PRICE * £600,000+ Commercial - 23rd March 2021 Online Bidding will open at 11.00 am for ALL lots. Lot 1 closes from 12.00 midday Key Features Location • 5 buildings comprising a total of 4,844 sq m (52,140 sq ft) Sedbury is a village within the Forest of Dean close to the England/Wales border, 1.5 • Site Area 9.25 acres (3.74 hectares) miles east of Chepstow and 18 miles north east and north west of Newport and Bristol respectively. • Located 1.5 miles east of Chepstow town centre The property has excellent road communications with the A48 approx 1 mile to the north • Situated 1 mile from the A48 and 1.5 miles from Chepstow Railway Station west, providing access to Junction 2 of the M48. The M48 provides access to the M4 • Re-development opportunity, subject to obtaining all the necessary consents East and West into England and Wales respectively. • VATis not applicable Chepstow Railway Station is located some 1.5 miles to the west of the property, which • Six Week Completion Available provides regular services to Cardiff (47 minutes), Gloucester (26 minutes) and Birmingham (1hr 56 minutes). Current Rent Reserved The property is situated in a semi-rural area approx 0.5 miles east of Sedbury village Tenant Not in Occupation or Paying Rent since September 2019 centre (1) Additional Information Tenure • The main building is Grade II listed but the subject premises are not situated within a Leasehold. Held on a lease for 999 years from 1st March 2006 (thus having some 984 years conservation area. unexpired) at a peppercorn rent. Lot 30A, Commercial Auction - 23rd March 2021 Date Printed: 15/03/2021 | Page 2 of 19 Tenancy (1) • The entire property is let to Four Seasons (No. 11) Limited with guarantor Four Seasons Health Care Limited (In Administration) for a term of 30 years from 02.09.05 up to and including 01.09.35 at a current rent of £566,484.96 per annum. The lease is on Full Repairing & Insuring Covenants with rent reviews every 5th year. Please note the tenant is not in occupation and the tenant has not been paying rent since September 2019. At present the tenant is providing the security costs on site and nothing more. Buyers will not be asked to pay the historic arrears, however the Seller reserves the right to pursue them, a full list of arrears will be provided in the legal pack. Please refer to the Special Conditions of Sale for full details. Planning • The property may lend itself to a variety of alternative uses and redevelopment, subject to obtaining all the necessary consents. All enquiries should be made with the local authority: Forest of Dean District Council; Contact Number: 01594 810 000 Email: [email protected] Website: www.fdean.gov.uk VAT - VATis not applicable to this Lot. Allsop Sellers Solicitor Alex Neil. Louise Burgess. Tel: 0207 543 6895 Pinsent Masons Email: [email protected] Email: [email protected] Lot 30A, Commercial Auction - 23rd March 2021 Date Printed: 15/03/2021 | Page 3 of 19 Schedule Address Accommodation Main House Basement Floor 81 sq m 872 sq ft Ground Floor 1,407 sq m 15,145 sq ft First Floor 737 sq m 7,933 sq ft Second Floor 568 sq m 6,114 sq ft Subtotal 2,793 sq m 30,064 sq ft Wye House Ground Floor 505 sq m 5,436 sq ft First Floor 521 sq m 5,608 sq ft Subtotal 1,026 sq m 11,044 sq ft The Marlings Ground Floor 617 sq m 6,641 sq ft First Floor 232 sq m 2,497 sq ft Subtotal 849 sq m 9,139 sq ft Cottage Ground Floor 46 sq m 495 sq ft First Floor 42 sq m 452 sq ft Subtotal 88 sq m 947 sq ft Cottage Ground Floor 46 sq m 495 sq ft First Floor 42 sq m 452 sq ft Subtotal 88 sq m 947 sq ft Total 4,844 sq m 52,140 sq ft N.B. The property has not been inspected by Allsop. Floor areas have been provided by the Vendor. Lot 30A, Commercial Auction - 23rd March 2021 Date Printed: 15/03/2021 | Page 4 of 19 Featured 1 Lot 30A, Commercial Auction - 23rd March 2021 Date Printed: 15/03/2021 | Page 5 of 19 Featured 2 Lot 30A, Commercial Auction - 23rd March 2021 Date Printed: 15/03/2021 | Page 6 of 19 Featured 3 Lot 30A, Commercial Auction - 23rd March 2021 Date Printed: 15/03/2021 | Page 7 of 19 Featured 4 Lot 30A, Commercial Auction - 23rd March 2021 Date Printed: 15/03/2021 | Page 8 of 19 Featured 5 Lot 30A, Commercial Auction - 23rd March 2021 Date Printed: 15/03/2021 | Page 9 of 19 Featured 6 Lot 30A, Commercial Auction - 23rd March 2021 Date Printed: 15/03/2021 | Page 10 of 19 Featured 7 Lot 30A, Commercial Auction - 23rd March 2021 Date Printed: 15/03/2021 | Page 11 of 19 Featured 8 Lot 30A, Commercial Auction - 23rd March 2021 Date Printed: 15/03/2021 | Page 12 of 19 Featured 9 Lot 30A, Commercial Auction - 23rd March 2021 Date Printed: 15/03/2021 | Page 13 of 19 Featured 10 Lot 30A, Commercial Auction - 23rd March 2021 Date Printed: 15/03/2021 | Page 14 of 19 Pro map Lot 30A, Commercial Auction - 23rd March 2021 Date Printed: 15/03/2021 | Page 15 of 19 Lot 30A, Commercial Auction - 23rd March 2021 Date Printed: 15/03/2021 | Page 16 of 19 Lot 30A, Commercial Auction - 23rd March 2021 Date Printed: 15/03/2021 | Page 17 of 19 Lot 30A, Commercial Auction - 23rd March 2021 Date Printed: 15/03/2021 | Page 18 of 19 Disclaimer - - - Important notice - Pre-registration approval to bid, guide prices, reserves and additional charges Please note that charges and fees additional to the sale price might be payable by the successful buyer in respect of the Lot. Please read the information below and check the Special Conditions of Sale, the Particulars of Sale and any addendum for the Lot before deciding whether or not to bid. Pre-registration approval to bid Allsop now requires all bidders who wish to bid at our Auctions to Register beforehand. All checks required by current anti-money laundering legislation must be satisfactorily completed as part of this process before prior approval to bid will be given. Please us the links on our website to pre-register. Guide Prices 1. 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 might be prepared to sell on the date on which the guide price (or range of prices) is published. The guide price will normally be at or above any reserve price. 2. The guide price may be subject to change up to and including the day of the auction. The latest published guide price (or range of prices) is displayed on our website and you are advised to check the website regularly for updates. 3. All guide prices are Quoted "subject to contract". 4. Please note the guide price for the Lot does not include: - any Buyers' Fee charged by the auctioneers; - VATon the sale price; - SDLT or any other Government taxes; - additional costs and fees charged by the seller or third parties that might apply to some Lots and/or some buyers. 5. If a guide price is listed as "TBA", it means no guide price has been set at present. Please do not call our office about this - the guide price, or range of prices, will be published online immediately it becomes available and you should check the auction website regularly for updates. Reserve Prices 6. The reserve price is the minimum price at which the Lot can be sold. 7. Whilst every effort is made to ensure that the advertised guide prices are up-to-date. it is possible that the reserve price set for any Lot may exceed the previously quoted guide price. This is because the seller may fix the final reserve price just before the Lot is offered for sale. Buyers' fees, Seller's fees and additional charges 8. For each Lot, a Buyers' Fee is payable on the fall of the hammer to Allsop LLP as follows: Residential Auctions - Lots sold for £10,000 or more: Buyers' Fee of £1,250 inclusive of VAT - Lots sold for less than £10,000: Buyers' Fee of £250 inclusive of VAT Commercial Auctions - All Lots: Buyers Fee £1,000 inclusive of VAT 9. Additional charges and fees might be charged by the seller and/or other third parties. You are strongly advised to read the Special Conditions of Sale for the Lot prior to bidding to check for any additional charges and fees and to check the addendum which might also (but does not always) contain details of such amounts. 10. VATmay be chargeable in addition to the sale price for the Lot. The Lot Particulars and/or the Special Conditions of Sale will indicate whether VATapplies. Other Matters 11. Please note that lots may be sold or withdrawn at any time prior to auction. 12. Please note that the amount of Bidder Security (payable on application to bid at the auction) and the Buyer's Fee may each be varied from the standard amounts quoted.