UNDER OFFER, Sold Prior £476,000

1, Beaufort Square, Chepstow, NP16 5LG


  • FREEHOLD FORMER BANK
  • OVER 4 FLOORS
  • PLANNING GRANTED
  • 6 X FLATS
  • GROUND FLOOR COMMERCIAL
  • GDV £1.1m
  • CENTRAL TOWN LOCATION
  • OVERLOOKING MAIN SQUARE
  • VACANT POSSESION
  • STUNNING BUILDING

ADDRESS

Former NatWest Bank, 1 Beaufort Square, Chepstow NP16 5LG
Also referenced as 1 And 2 Hocker Hill Street Chepstow Monmouthshire NP16 5ZT

THE PROPERTY

A Freehold former bank premises occupying an elevated position in the centre of this sought after town with views of the Severn Bridge and Chepstow Castle from the upper floors and fronting the town square.
The accommodation ( circa 4000 Sq Ft ) is arranged over four floors plus sub basement and a gated courtyard to the front.
Sold with vacant possession.

LOCATION

The property is situated on the Town Square medieval market town of Chepstow just moments from Chepstow Castle, the oldest surviving post-roman stone fortification in Britain. Chepstow itself is described as the gateway to the Wye Valley, which is a designated area of outstanding natural beauty. The town itself has many cafes, bars, bistros and restaurants plus many independently owned stores. There are good junior and comprehensive schools in the area and Chepstow has excellent commuter links via bus and rail with the A48, M4, M48 and M5 networks bringing Newport, Cardiff, Bristol, Gloucester and Cheltenham within commuting distance.

THE OPPORTUNITY

PLANNING GRANTED - CONVERSION TO APARTMENTS

Planning has been granted ( DM/2021/00197 ) to convert the property into 6 apartments and a retail unit with outdoor space.
We understand the GDV to be in the region of £1.1m

RETAIL UNIT

There is scope subject to consents to convert the retail unit into a 7th residential unit.

PROPOSED SCHEDULE OF ACCOMMODATION

FLAT 1
Two Bedroom Flat - 77m2
£256,934

FLAT 2
One Bedroom Flat - 37m2
£123,462

FLAT 3
One Bedroom Flat - 37m2
£123,462

FLAT 4
Two Bedroom Flat - 63.5m2
£211,887

FLAT 5
One Bedroom Flat - 37m2
£123,462

FLAT 6
Two Bedroom Flat - 64.5m2
£215,224

Residential value £1,054,432

RETAINED COMMERCIAL SPACE
Retail space with gated outdoor area (B1/A3) 54m2
£81,520

Combined Value (Residential + Commercial): £1,135,952

PLANNING GRANTED

ReferenceDM/2021/00197
Alternative ReferencePP-09408528
Application ReceivedThu 04 Feb 2021
Application ValidatedThu 04 Feb 2021
Address1 And 2 Hocker Hill Street Chepstow Monmouthshire NP16 5ZT
ProposalChange of use and alterations to part of the ground floor from A2 (Financial and professional), to A1,A2, A3 and B1 use. Conversion, change of use and alterations to the remaining building into 6 residential flats.
StatusDecided
DecisionApprove
Decision Issued DateWed 07 Jul 2021
Appeal StatusUnknown
Appeal DecisionNot Available

PLANNING INFORMATION

Full details of the proposed scheme and drawings can be downloaded with the online legal pack.

AUCTION PROPERTY DETAILS DISCLAIMER

Hollis Morgan endeavour to make our sales details clear, accurate and reliable in line with the Consumer Protection from Unfair Trading Regulations 2008 but they should not be relied on as statements or representations of fact and they do not constitute any part of an offer or contract. All Hollis Morgan references to planning, tenants, boundaries, potential development, tenure etc is to be superseded by the information contained in the legal pack. It should not be assumed that this property has all the necessary Planning, Building Regulation or other consents. Any services, appliances and heating system(s) listed have not been checked or tested. Please note that in some instances the photographs may have been taken using a wide angle lens. The seller does not make any representation or give any warranty in relation to the property and we have no authority to do so on behalf of the seller.


Local Information

Schools Stations Healthcare
Floorplan for PLANNING GRANTED - 6 FLATS + RETAIL - GDV £1,1m Floorplan for PLANNING GRANTED - 6 FLATS + RETAIL - GDV £1,1m Floorplan for PLANNING GRANTED - 6 FLATS + RETAIL - GDV £1,1m Floorplan for PLANNING GRANTED - 6 FLATS + RETAIL - GDV £1,1m Floorplan for PLANNING GRANTED - 6 FLATS + RETAIL - GDV £1,1m