A property auction has long been a place to potentially bag a bricks and mortar bargain, although in recent years with the Welsh property market experiencing the highest price increases in the UK due predominantly to the Covid-19 pandemic, many lots are being fought over by determined bidders.
Commercial buildings that offer a change of use and homes that offer a renovation project that gives a new owner a chance to add value to the property are becoming harder to secure, and if you want an auction lot that combines the two, that is an even rarer building to find.
But keep patient and keep your budget ready to spring into bidding action and you might find a property pop up in an auction catalogue that can satisfy the need for a home and a business, or a dual function building to rent out.
READ MORE: Inside the £65k Welsh country cottage desperate for a renovation
The vast majority of property experts say location is key for most potential buyers and if you are looking for a commercial opportunity then this is probably even more important.
Can potential customers see your proposed business and get access to it? How much passing traffic is there for your sandwich shop, cute café or stylish hair and nail salon?
There is one auction lot about to go under the hammer online that can offer a commercial unit on the corner of one of Cardiff's busiest streets and could also provide a place to call home too.
The former bike shop that fronts Clive Street comes with an end of terrace home attached that looks out onto Cowbridge Road East and could be seen as a perfect location to pick up passing trade as well as serve the local community.
That local community is the popular city centre adjacent suburb of Canton, which is sliced through by this main road that offers a range of national and local retailers along its path as it meanders from the city centre to one of the main artery roads out of the western side of the capital.
There are local schools, two well-loved parks, a thriving arts centre and just a short walk to Llandaff and Pontcanna fields, as well as Bute Park, the castle and the centre of Cardiff.
In its current configuration the property is a retail and repair cycle shop that still has a collection of bikes and bike parts inside, and attached is a three-storey, three bed house. Both sections of the property are in need of a full renovation project, but the potential at the plot could potentially make the hard work worth it.
The commercial unit, number 312a, is a single storey section of the plot, with a central entrance and large glazed display windows either side. Inside, there is internal access provided to the cloakroom to the rear of the unit and also into the internal hallway of 312 Cowbridge Road East - the attached house.
The house offers three reception rooms and a cloakroom on the ground floor, three bedrooms on the first floor and two additional rooms on the second floor within the loft space.
The dual function leasehold property is going under the hammer with Auction House Wales on Wednesday, September 7 from noon online via the company's website and viewings can be booked with the auction house or joint agents Hern & Crabtree estate agents.
Director and auctioneer Marc Morrish says: "This is a substantial end of terraced commercial property with part of the accommodation in need of full refurbishment throughout. In our opinion, the property offers scope for commercial and residential redevelopment, subject to all usual consents.
"Part of the accommodation is set over three floors and could be converted to a residential dwelling and the single storey area could be reopened as a commercial or retail unit.
"There may also be scope to build above the single storey section, all of which is subject to planning approval from Cardiff City Council Planning Department."
There are a few added extras that an excited bidder needs to consider and factor into their budget and renovation project plans too, as well as the need to secure planning consent for changes.
There is an administration charge of 1.2% of the purchase price subject to a minimum of £1200, both sums including VAT, payable on exchange of contracts and, of course, all potential buyers need to read the legal pack for any disbursements listed that may become payable by the purchaser on completion.
And if you know your plants, you may have spotted a clump of Japanese Knotweed in the front garden by the bay window, but the auction house states that there is an insurance backed eradication management scheme in place to deal with this unwelcome tenant.
And what of the future of the bikes inside the property? To find out if the sale comes with the multiple wheels inside, a call to the auction house or estate agent should confirm if they, and the rest of the interior of the property, change owners when the virtual hammer falls.
The commercial unit and house is going to online auction with a guide price of £199,000 plus fees with Auction House Wales on Wednesday, September 7 from noon.
Find out more by calling them on 029 2047 5184 or Hern & Crabtree on 029 2022 8135. And don't miss the best dream homes in Wales, auction properties, renovation stories, and interiors - join the Amazing Welsh Homes newsletter, sent to your inbox twice a week.
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