12 Monnow Street, Monmouth, Gwent

Description

A three storey end of terrace corner Shop Premises with two self contained flats above, having a return frontage to St. John Street. The property was classified as a Grade II Listed building with effect from 10th August 2005.

Accommodation

Ground floor shop together with two self contained 3 bedroom maisonettes on the upper two floors; total accommodation approximately 314.96 sqm (3,390 sq ft)

Location

Situated on the south side of Monnow Street, close to its junction with St John's Street, on the principal retail thoroughfare. Monmouth is an affluent historic market town and popular tourist destination, situated in the Wye Valley, 26 miles west of Gloucester and 18 miles south of Hereford. Nearby occupiers include M&S Food hall, Boots, Pizza Express, Caffe Nero, Superdrug, Mountain Warehouse and JD Wetherspoon.

Tenure / Property Information

Investment Analysis

The £300,000+ guide can be compared only cautiously with the supplied Land Registry evidence. The comparables are older, vary in size and property type, and do not provide sufficiently specific evidence for this Grade II Listed mixed-use building with a shop and two maisonettes. No supported GDV or market-rent conclusion can therefore be established.

Investment Snapshot

Strategy Recommendation

Do not bid on the available evidence alone. Obtain the lease, passing rent, maisonette occupancy and tenancy details, listed-building/condition information, and full auction costs before considering purchase.

Works Required

No specific physical works or defects are evidenced. A specialist inspection would be required, with any alterations subject to the requirements applying to the Grade II Listed building.

Rental & Market Context

Sold Comparables

The following completed sales were identified within approximately 5 miles:

Potential BRRR Position

A BRRR assessment is not supportable without a reliable current value, rent, refurbishment budget, lease information and finance costs. The listed status and the shop lease expiry in 2028 require particular due diligence.

Buy-to-Let Analysis

BTL returns cannot be calculated because no sufficiently specific rental evidence or auctioneer rent estimate is supplied. The occupancy of both maisonettes is also unstated. The ground-floor shop is let to Timpson Retail Limited until 2028, but passing rent and lease terms are not provided.

Flip Analysis

A flip appraisal is not supportable because no evidenced GDV, refurbishment allowance, selling costs or detailed condition information is supplied. The available sales are dated and not sufficiently comparable.

Investor Risks & Due Diligence

• Grade II Listed status may restrict alterations and increase approval or maintenance complexity.

• The shop lease expires in 2028; passing rent, break rights, repairing obligations and renewal prospects are not supplied.

• Occupancy and rental income for both maisonettes are not stated.

• No condition survey, refurbishment budget, EPC, heating or parking information is provided.

• Buyer premium, administration charge and other possible fees are not specified.

• The supplied comparable sales are historic and not sufficiently specific to establish current market value.

Recommendation

Do not bid on the available evidence alone. Obtain the lease, passing rent, maisonette occupancy and tenancy details, listed-building/condition information, and full auction costs before considering purchase.

Strategy Rating

Analysis Confidence

The property description and some historic sales are available, but rent, occupancy details, condition, works, EPC, lease economics, buyer charges and a sufficiently comparable valuation are missing.