Claremont House, High Street, Lydney, Gloucestershire, GL15 5DX
Claremont House, High Street, Lydney, Gloucestershire, GL15 5DX
Commercial properties
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Forest Road, Lydney Guide Price £575,000

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** FULLY LET, TOTAL CURRENT INCOME CIRCA £44,600 PER ANNUM ** Toombs & Toombs Properties are pleased to offer for sale this mixed Commercial/Residential investment opportunity comprising two spacious Two bedroom Apartments, One spacious Three bedroom Apartment and Three commercial units (currently run as a barber, Indian restaurant and Turkish kebab shop. Situated in a prominent location in the heart of this growing town.


Lydney town offers a wide range of facilities including a variety of shops, bank, building societies and supermarkets, as well as a sports centre, golf course, hospital, doctors’ surgeries, train station, primary and secondary schools.

A wider range of facilities are also available throughout the Forest of Dean including an abundance of woodland and river walks. The Severn crossings and M4 towards London, Bristol and Cardiff are easily reached from this area along with the cities of Gloucester and Cheltenham for access onto the M5 and the Midlands.

LOCATION

The site benefits from excellent road links both to Chepstow and Gloucester via the A48 to the west and east respectively. Lydney sits on the Southern Edge of the Forest of Dean in Gloucestershire and along with Cinderford and Coleford is one of the main centres within the area. Lydney is and has in recent years experiencing considerable expansion with hundreds of new homes built/being built. The population is growing.

DESCRIPTION

A terraced purpose built commercial and residential block which comprises of 3 retail/hot food units on the ground floor with 3 residential apartments on the first floor (two spacious two bedroom apartments and one spacious three bedroom apartment). The property is constructed of a mixture of facing brickwork and reconstituted stone under a pitched tiled roof.

TENURE

The property is Leasehold and subject to several tenancy agreements. Flat 1 – 2,000 years from September 1988 Flat 2 – 99 years from September 1998 Flat 3 – 99 years from September 1998 Unit 5 – 2,000 years from September 1998 Unit 5a – 2,000 years from September 1998 Unit 6 – 2,000 years from September 1998 The property portfolio generates a current gross income in the region of £45,700 per annum with potential for further uplift in the rent roll.

SERVICES

mains water, electricity and drainage are connected to the property. THE SERVICES AND CENTRAL HEATING SYSTEMS, WHERE APPLICABLE, HAVE NOT BEEN TESTED.

RATING

The April 2023 Business Ratings assessments lists all 3 retail units as 'shop and premises'. Individual assessments listed below and are the responsibility of the tenant. Rent roll for commercial shop/restaurant units - £2,235 pcm (inclusive of VAT) Rent roll for residential apartments - £1,486 pcm Please note: this portfolio is owned by a Limited Company therefore is VAT registered, however there is no VAT appertaining to the residential units.

QUOTING TERMS

£575,000 for the portfolio/Leasehold interest, subject to the existing tenancy agreements.

LEGAL COSTS

Each party will be responsible for their own legal fees involved in the transaction. The purchasers will indemnify the vendor in respect of their reasonable legal costs in the event of withdrawing from the transaction following the receipt of the contract.

ENERGY PERFORMANCE CERTIFICATES

1 Forest Parade (top floor flat) - 60 sq/m - Energy rating F 2 Forest Parade (top floor flat) - 60 sq/m - Energy rating E 3 Forest Parade (top floor flat) - 98 sq/m - Energy rating E Unit 5 - Energy rating has been applied for Unit 5a - Energy rating has been applied for Unit 6 - Energy rating has been applied for

VIEWING

BY APPOINTMENT WITH THE OWNERS AGENTS. Initial consultation via David Toombs on 01594 844444 / 07791 313212.


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  • PROMINENT LOCATION
  • FULLY LET
  • INCOME OF £45,700 PA

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Forest Road
Lydney GL15 5LA
County: Gloucestershire
Sale Type: For Sale
Ref #: T&T2179
Maxine Voss
Toombs & Toombs Properties
P: 01594 844444
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