£425,000

Retail premises for sale

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Offers over

£425,000

(£341.37/sq. ft)

Retail premises for sale

George Street, Pontypool NP4

1,245 sq. ft

Local area information

Property location

Nearby amenities

  • St Alban's R.C. High School 0.1 miles
  • George Street Primary School 0.2 miles
  • Pontypool & New Inn 1.2 miles
  • Cwmbran 3.4 miles

These distances are calculated in a straight line. The actual route and distance may vary.

Read our area guide for Pontypool to find out more about the local area.

Features and description

  • Retail and Residential Investment for Sale
  • Prominent Corner Location in Town Centre
  • Three Residential Apartments on the Upper Floors
  • Generating Income of £28,500 per annum
  • Potential Income of £36,900 per annum
  • Quoting Offers in excess of £425,000 plus VAT
Location

Pontypool is a town located in the borough of Torfaen. It is
approximately 10 miles north of Newport. The town population is
approximately 28,970.

The property is located on the corner of George Street, Crane Steet
and Commercial Street in a prominent position. This is the
pedestrianised area of Pontypool. Other occupiers include High
Street Fitness, Nationwide and Specsavers amongst others.
Description

The property is a three storey corner terrace building.
The ground floor has an open plan retail area fitted out to the current
tenant’s specification. The property benefits from suspended ceilings, laminate flooring and power sockets.

The property has windows on two sides, with security roller shutters.
There are two separate back rooms, a kitchen and WC facilities.
The upper floors consist of three flats. The first floor has two 2 bed
flats and the third floor has a 3 bed flat.
Tenancies

Flat 1 is let for a rent of £650 pcm, expiring in July 2025. Flat 3 is let
for a rent of £725 pcm expiring February 2025. Flat 2 is currently
vacant but has the potential rent of £700 pcm.

The ground floor is currently let to cchg Ltd t/a vpz for a period of
5 years ending on 15th August 2028 subject to a mutual break clause
of 6 months notice on 16th August 2026. The current rent is £12,000
per annum exclusive. The tenant is responsible for internal repairs
and insurance subject to a schedule of condition.
Covenant strength ground floor tenant

In its latest filed accounts to 31st December 2022, the tenant declared
a profit after tax of c £465,000 and shareholder funders of in excess
of £13.4m.
Vpz trade from over 170 locations across the UK.
Accommodation

Ground Floor:

115.70 sq m
(1,245 sq ft)
Planning

We understand that the ground floor benefits from planning consent
for retail use. However, we recommend that interested parties make
their own enquiries to the local authority.
Tenure

We are seeking offers in excess of £425,000 plus VAT.

More information

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  1. Zoopla
  2. Commercial for sale
  3. Torfaen
  4. Pontypool
  5. Griffithstown
  6. George Street