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£100,000
RARE OPPORTUNITY to Purchase a Derelict Former Bakery POTENTIAL for DEVELOPMENT (Subject to Planning) SUPERB LOCATION Located for Risca TRAIN STATION and for Easy Walking Distance to Local Amenities and for Risca--s BUSY High Street EXCELLENT TRANSPORT LINKS, for the A476 and Access to the M4 for Newport, CARDIFF & BRISTOL EMAIL ONLY to REGISTER INTEREST
VIEWING ARRAGEMENTS
In the first instance we advise that any potential purchaser uses the video to determine interest in the property and wherever possible to take an external inspection. Internal Viewings will be restricted due to the unevenness of the floors and ability to access.
DESCRIPTION
The Old Bakery is situated in a secondary position at the rear of Isaf Road a residential area of Risca. Access to the property is via the A467 dual carriageway, B4591 and from Mill Street, with access obtained from Isaf Road via a small lane with a hardcore/earth covering.
Situated in a secondary commercial location adjacent to back lane off Isaf Road abutting the Northwest side of the towns football field/recreation ground and is approximately 150 metres distance from Ty Isaf Infant School and Railway Station.
Built early 1900s, this irregularly shaped brick building of part two storey and part single storey, is currently utilised for storage.
The two-storey building is constructed with brick with a cement render finish on the exterior beneath a pitched roof clad with corrugated asbestos sheeting. The windows are of timber frame with several broken panes, which have been secured by blockwork. Access via timber double doors.
GROUND FLOOR
There are two dis-used male/female toilets at ground floor level, each with low flush w.c. and pedestal wash hand basin, and there is a Belfast sink in part of the side bay area.
FIRST FLOOR
Accessed from inside ground floor workshop, stairs to First Floor. Previously a flat of one single bedroom, office/lounge area, plus shower room with low flush w.c., pedestal wash hand basin and shower cubicle.
The Single storey extensions are situated at either end of the building. The most northerly is of similar specification to the two-storey building, whilst the southerly building is constructed of brick/block, cement rendered, with a flat roof clad with bitumen/felt. This part of the property has been subject to an arson attack several years ago and in parts have now collapsed.
The site measures circa 0.032 hectares (0.079 acres).
Ground floor 132.20 sq m
First floor 47.94 sq m
TOTAL GIA 180.14 SQ M
Please note measurements are approximate due to the difficulty accessing parts of the property.
We are advised that the property has/had mains water, mains electricity but no gas supply.
There is no heating system within the property on either floor.
LOCATION AND SITUATION
Risca is located approximately 7 miles to the West of Newport City Centre, and approximately 6 miles North of Junction 28 of the M4 Motorway.
Blackwood is approximately 9 miles to the Northwest.
EXCELLENT TRANSPORT LINKS, for the A476 and Access to the Junction 28 of the M4 for Newport, CARDIFF & BRISTOL.
IN TOP 5 of BEST Estate Agents in WALES in the Industry NEGOTIATOR AWARDS Adre Properties is GROWING THROUGH REPUTATION.
Adre Properties is an affordable and professional online Estate Agent dedicated to the South Wales Region and other Regions by Request. If you have either a property to SELL or RENT, then give us a call to find out why we have been SHORTLISTED as BEST in WALES and see how we Can WORK for you!
Adre Properties is a Trading name of Adre Properties Ltd.
THE PROPERTY MISDESCRIPTIONS ACT 1991
References to the Tenure of a Property are based on information supplied by the Vendor. The Agent has not had sight of the title documents. Items shown within photographs are NOT included unless indicated.
COPYRIGHT
The information on this website is the copyright of Adre Properties Ltd. Prospective purchasers may download, store, and use the material for both their own personal consideration and for those people they may need to consult with. However, unless the permission of Adre Properties Ltd has been sought, under NO circumstances may any content, be republished, retransmitted, redistributed or otherwise so that it causes the material to become available to any party or on any website, online service or bulletin board or reproduced as a hard copy or in other media form.
REFERRAL ARRANGEMENTS
Adre Properties Ltd may recommend the services of third parties to you. Whilst these services are recommended as it is believed they will be of benefit; you are under no obligation to use any of these services, and you should always consider your options before services are accepted. Where services are accepted Adre Properties Ltd may receive payment for the recommendation, and you will be informed of any referral arrangement and payment prior to any services being taken by you.
Your property may be repossessed if you do not keep up repayments on your mortgage.
Monthly Payment: £ 8,216.87
Monthly Payment: £ 8,216.87
Monthly Payment: £ 8,216.87
Amortization For Monthly Payment: £8,216.87 over 30 years ( Based on 3.20% Interest )
Using your investment as a 25.00% deposit and £ 5,833 in costs for purchasing and getting ready to let.
Stamp Duty is a tax paid on completion via your solicitor, the calculation includes the 3% surcharge for second homes.
Your home may be repossessed if you do not keep up repayments on your mortgage.
The refurbishment budget is set to 2.50% of the purchase price, but this will vary dependent on the suitability of the property for the rental market. Select a value that you feel is appropriate to the condition of the property.
This will vary between lenders, type of report and whether or not you are buying with a mortgage, for advice on which type of survey would be appropriate speak with an advisor from Preston Baker Financial Services.
Lenders will often charge a fees for the arrangement of a mortgage, for advice on what lenders may charge, speak with an advisor from Preston Baker Financial Services. Your home may be repossessed if you do not keep up repayments on your mortgage.
This is the sum of mortgage admin, land registry, search, bank transfer and any other fees incurred.
Purchase costs include assumed mortgage and survey costs which are estimated. For a quote contact a Preston Baker Financial Services mortgage advisor who can provide you with current and accurate information. The stamp duty calculation has applid the 3% stamp duty surcharge on the basis that this will be a second property.
The mortgage is assumed to be interest only. Your home may be repossessed if you do not keep up repayments on your mortgage.
This is the percentage of the rent that you will spend maintaining the property.
Ground Rent only applies to leasehold properties. This is an assumed ground rent, the confirmed figure can be found in the Property Information Questionnaire.
Service charge only applies to leasehold properties. The correct figure can found in the Property Information Questionnaire answered by the seller.
This is a standard, indicative figure only. Properties that have a service charge often have this included withing that charge. Please consult the Property Information Questionnaire for more information.
Final Equity Profit = Final Property Value - Mortgage Required - Investment
Cumulative Rental Profit = Annual rental profit x Time of Investment
This is the assumed rate of house price inflation.
This is the property value at the end of the investment based on an assumed rate of % house price inflation.
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