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12 bedroom flat for sale
Development | Pontypool
£150,000
Development | Pontypool
£150,000
Our Summary
- Hollis Morgan – MAY LIVE ONLINE AUCTION – A Freehold DEVELOPMENT OPPORTUNITY ( 5782 Sq Ft ) with PLANNING to convert this FORMER BANK into 6 X APARTMENTS + COMMERCIAL + 14 x PARKING spaces
- For Sale By Live Online Auction - ADDRESS | Former Bank 4 Hanbury Road, Pontypool, Gwent NP4 6YELot Number TBCThe Live Online Auction is on Wednesday 14th May 2025 @ 17:30Registration Deadline is on Monday 12th May 2025 @ 16:00The Auction will be streamed LIVE ONLINE via the Hollis Morgan website & you can chose to bid by telephone, proxy or via your computer
- Registration is a simple online process – please visit the Hollis Morgan auction website and click “REGISTER TO BID”Guide Price Range - The vendors have issued a guide price range of £150,000 - £200,000
- This substantial building presents a unique opportunity for redevelopment or continued commercial use, subject to relevant consents
- A significant feature is the extensive car parking provision to the rear, accommodating approximately 14 vehicles, making it exceptionally well-suited for businesses or residential conversion requiring ample parking in a prime location
- Tenure - Freehold Utilities, Rights & Restrictions - Please refer to the Legal Pack Flood Risk - Please refer to the Legal PackThe Opportunity - PLANNING GRANTED | MIXED USE SCHEMEPlanning has been granted to convert the property into a mixed use scheme of 6 apartments and a large commercial ( scope to split commercial into 2 units ) 24/P/0618/FUL | Change of use to former Bank create six residential flats (C3 Use)
- The commercial unit has scope to be split into 2 separate units, which should achieve in the region of £190,000
- Planning | 6 Flats - Reference24/P/0618/FULAlternative ReferencePP-13439463Application ReceivedTue 01 Oct 2024Application ValidatedMon 18 Nov 2024AddressFormer Lloyds Bank Hanbury Road Pontypool Torfaen NP4 6YEProposalChange of use to former Bank create six residential flats (C3 Use)
- FOR SALE BY ONLINE AUCTION
- FREEHOLD DEVELOPMENT OPPORTUNITY
- MAY LIVE ONLINE AUCTION
- RESI PLANNING GRANTED
Description
This is a unique development opportunity to purchase a former bank building in Pontypool, Gwent, with planning permission to convert it into 6 apartments and a commercial unit, plus 14 parking spaces. The property has a total floor area of 5782 sq ft and is situated in a highly desirable location in the town centre. The planning permission allows for a mixed-use scheme, with the commercial unit able to be split into two separate units. The guide price range is £150,000 to £200,000, and the property is being sold with vacant possession. The proposed residential schedule includes six flats, ranging in size from 326 to 555 sq ft, and the commercial unit has a potential gross development value of £190,000. The property also has the potential for rental income, with each flat able to let for £650 per month and the commercial units able to let for £130 per week each.