Market Place, Coleford
£449,000
Guide price
Guide price
Bedrooms: 3
A fantastic investment opportunity to purchase a mixed use property in the heart of the town of Coleford. The property comprises two separate retail units, which could be combined as one if required, with ancillary office and store rooms behind, while the upper floors offer three separate one bedroom flats with their own access from the rear. In addition, to the rear, is a garden area and off road parking which has the potential to be developed further, subject to any planning consents that may be required.
Shop
6.62m x 3.34m (21'9 x 10'11 )
Window to front, open plan to:
Inner corridor leading to:
Back Office
2.00m x 2.67m (6'7 x 8'9 )
Window to side, door to:
Inner Lobby
Door to:
WC
Low level WC, window to side.
Shop
Window to front, open plan to:
Prep Room
Access to:
Store
Providing further prep area/storage space.
Rear Lobby
Door to: WC.
Store Room
Accessed from rear of the building.
First Floor
Communal landing with access to:
15A Entrance Hall
Doors to:
Bedroom
4.78m x 2.31m (15'8 x 7'7 )
Window to front.
Inner Hall
Window to side, steps, door to:
Kitchen
1.68m x 1.54m (5'6 x 5'1 )
Bathroom
Window to side.
Living Room
3.55m x 2.69m (11'8 x 8'10 )
Window to rear, window to side, door to Airing Cupboard.
16A One Bedroom Flat (indicative)
This property was not available for inspection at the time particulars were prepared but offers a living room, kitchen, bedroom and bathroom.
Second Floor
Communal hall providing access to:
15B Entrance Hall
Doors to:
Living Room
3.56m x 4.07m (11'8 x 13'4 )
Two windows to front.
Kitchen
2.72m x 2.78m (8'11 x 9'1 )
Window to rear, open plan to airing cupboard.
Bedroom
4.79m x 2.88m (15'9 x 9'5 )
Window to front.
Bathroom
WC
Income
Each of the retail units are currently occupied and generating an income of £8,320 per annum and £14,484 per annum respectively. The latter also pays an additional £520 per annum for the store room at the rear. Further lease details available upon request.
One of the flats is currently occupied and producing £7,200 per annum. The two remaining flats are available and seeking £7,800 each per annum.
The total income for the whole building were it fully occupied would be £46,124, a yield of just over 7%.
INDEPENDENT FINANCIAL ADVICE
We are able to arrange a no obligation introduction to a mortgage advisor who specialises in various areas of financial planning, including mortgages.
LOCAL AUTHORITY & CHARGES
Forest of Dean District Council, 01594 810000. Band X, £0,000.00 (2022/23)
15 Market Place - Business Rate rateable value £3,950, resulting in basic Business Rates of £1,917.05. Small business rate relief would reduce this to zero for qualifying businesses.
16 Market Place - Business Rate rateable value £4,950, resulting in basic Business Rates of £2,470.05. Small business rate relief would reduce this to zero for qualifying businesses.
The flats are all believed to be Council Tax Band A, £1,449.50 (2023/24).
MONEY LAUNDERING REGULATIONS
To comply with money laundering regulations, prospective purchasers will be asked to produce photographic identification documentation at the time of making an offer. We ask for your cooperation in order that there is no delay in agreeing the sale.
N.B.
These particulars do not constitute part or all of an offer or contract. All information contained within these particulars is given in good faith but should not be relied upon as being a statement or representation of fact. While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property. None of the services or appliances mentioned in this brochure have been tested. We would recommend that prospective purchasers satisfy themselves as to their condition, efficiency and suitability before finalising their offer to purchase. All measurements are approximate and as such should be considered incorrect. Potential buyers are advised to recheck the measurements before committing to any expense. Any movable contents, fixtures and fittings, (whether wired or not) referred to in these property particulars (including any shown in the photographs) are, unless the particulars say otherwise, excluded from the sale. It should not be assumed that the property has all necessary planning, building regulation or other consents and these matters must be verified by an intending purchaser. Trivett Hicks has not sought to verify the legal title of the property and the buyers must obtain verification from their solicitor. All statements contained in these particulars as to this property are made without responsibility on the part of Trivett Hicks, or the vendors or lessors.
TENURE
Freehold
VIEWING ARRANGEMENTS
Strictly by arrangement with the Selling Agents, Trivett Hicks, 53 Broad Street, Ross-on-Wye. Tel: (01989) 768666.
EPC's
15a - C
15b - E
16a - D
15 - C
Shop
6.62m x 3.34m (21'9 x 10'11 )
Window to front, open plan to:
Inner corridor leading to:
Back Office
2.00m x 2.67m (6'7 x 8'9 )
Window to side, door to:
Inner Lobby
Door to:
WC
Low level WC, window to side.
Shop
Window to front, open plan to:
Prep Room
Access to:
Store
Providing further prep area/storage space.
Rear Lobby
Door to: WC.
Store Room
Accessed from rear of the building.
First Floor
Communal landing with access to:
15A Entrance Hall
Doors to:
Bedroom
4.78m x 2.31m (15'8 x 7'7 )
Window to front.
Inner Hall
Window to side, steps, door to:
Kitchen
1.68m x 1.54m (5'6 x 5'1 )
Bathroom
Window to side.
Living Room
3.55m x 2.69m (11'8 x 8'10 )
Window to rear, window to side, door to Airing Cupboard.
16A One Bedroom Flat (indicative)
This property was not available for inspection at the time particulars were prepared but offers a living room, kitchen, bedroom and bathroom.
Second Floor
Communal hall providing access to:
15B Entrance Hall
Doors to:
Living Room
3.56m x 4.07m (11'8 x 13'4 )
Two windows to front.
Kitchen
2.72m x 2.78m (8'11 x 9'1 )
Window to rear, open plan to airing cupboard.
Bedroom
4.79m x 2.88m (15'9 x 9'5 )
Window to front.
Bathroom
WC
Income
Each of the retail units are currently occupied and generating an income of £8,320 per annum and £14,484 per annum respectively. The latter also pays an additional £520 per annum for the store room at the rear. Further lease details available upon request.
One of the flats is currently occupied and producing £7,200 per annum. The two remaining flats are available and seeking £7,800 each per annum.
The total income for the whole building were it fully occupied would be £46,124, a yield of just over 7%.
INDEPENDENT FINANCIAL ADVICE
We are able to arrange a no obligation introduction to a mortgage advisor who specialises in various areas of financial planning, including mortgages.
LOCAL AUTHORITY & CHARGES
Forest of Dean District Council, 01594 810000. Band X, £0,000.00 (2022/23)
15 Market Place - Business Rate rateable value £3,950, resulting in basic Business Rates of £1,917.05. Small business rate relief would reduce this to zero for qualifying businesses.
16 Market Place - Business Rate rateable value £4,950, resulting in basic Business Rates of £2,470.05. Small business rate relief would reduce this to zero for qualifying businesses.
The flats are all believed to be Council Tax Band A, £1,449.50 (2023/24).
MONEY LAUNDERING REGULATIONS
To comply with money laundering regulations, prospective purchasers will be asked to produce photographic identification documentation at the time of making an offer. We ask for your cooperation in order that there is no delay in agreeing the sale.
N.B.
These particulars do not constitute part or all of an offer or contract. All information contained within these particulars is given in good faith but should not be relied upon as being a statement or representation of fact. While we endeavour to make our sales particulars fair, accurate and reliable, they are only a general guide to the property and, accordingly, if there is any point which is of particular importance to you, please contact the office and we will be pleased to check the position for you, especially if you are contemplating travelling some distance to view the property. None of the services or appliances mentioned in this brochure have been tested. We would recommend that prospective purchasers satisfy themselves as to their condition, efficiency and suitability before finalising their offer to purchase. All measurements are approximate and as such should be considered incorrect. Potential buyers are advised to recheck the measurements before committing to any expense. Any movable contents, fixtures and fittings, (whether wired or not) referred to in these property particulars (including any shown in the photographs) are, unless the particulars say otherwise, excluded from the sale. It should not be assumed that the property has all necessary planning, building regulation or other consents and these matters must be verified by an intending purchaser. Trivett Hicks has not sought to verify the legal title of the property and the buyers must obtain verification from their solicitor. All statements contained in these particulars as to this property are made without responsibility on the part of Trivett Hicks, or the vendors or lessors.
TENURE
Freehold
VIEWING ARRANGEMENTS
Strictly by arrangement with the Selling Agents, Trivett Hicks, 53 Broad Street, Ross-on-Wye. Tel: (01989) 768666.
EPC's
15a - C
15b - E
16a - D
15 - C
01989 218006
Trivett Hicks - Ross-on-Wye
53 Broad Street, Ross-on-Wye, Herefordshire, HR9 7DY
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