House For Sale £350,000
Uplands Crescent, Swansea SA2

FOR SALE BY PUBLIC AUCTION: The auction will take place online on 14th May 2024 at 04:03 PM with registration through our website.

Freehold investment property in this busy area. Income £50,000 pa representing an Initial Gross Yield of 14.3%. Next door also available. (Upper floors sold off on long leasehold)

Description
Freehold investment property in this busy area. Income £50,000 pa representing an Initial Gross Yield of 14.3%. Next door also available. (Upper floors sold off on long leasehold)

The property comprises a ground floor investment property and the freehold of the entire building. However we are informed that the upper floors have been sold off on a long leasehold. Please though examine the legal pack when available for confirmation of tenure and all tenancy information.

The ground floor unit is let to The Uplands Diner who have been longstanding tenants and the unit has been very well maintained by the occupiers. The unit briefly comprises a small front servery and seating area, a large rear main restaurant area with an open-plan service kitchen. To the rear is a further preparation kitchen, further storage, wash area and WC's. Outside there is an enclosed bin storage area.

This area of Uplands crescent is a very busy retail and hospitality area with local and national operators such as Burger King (also available in this auction), Starbucks, Boots, Sainsbury's, Tesco and KFC.

Accommodation
GF - Front servery, main restaurant, open-plan kitchen, rear stores, preparation kitchen, WC's

Informed Freehold please refer to legal pack for verification of tenureAdditional Fees
Buyer's Premium 1.2% with a minimum of £1,200 (inc of VAT) payable on exchange of contracts. Please refer to the legal pack for any further disbursements to be paid by the purchaser on completion.

Each property sold is subject to a Reserve Price. The Reserve Price, which is agreed between the seller and the auctioneer just prior to the auction, will be within + or - 10% of the Guide Price. The Guide Price is issued solely as a guide so that a buyer can consider whether or not to pursue their interest. Both the Guide Price and the Reserve Price can be subject to change up to and including the day of the auction.

Further Information
Auctioneers Office, Seel and Co[use Contact Agent Button]

Viewing
Viewing by appointment with Seel and Co