A FORMER library in the heart of an historic Gwent valleys town has gone up for auction in what is fast becoming a property hotspot.
The fully-let property in the World Heritage town of Blaenavon is being sold by Newport-based Paul Fosh Auctions.
Debra Bisley, of the auction company, said: "We've had loads of interest in properties in Blaenavon over recent months with a number of these often quirky and of architectural interest being sold at one our auctions. It's becoming quite a property hot spot.
"This very interesting former library building on Lion Street in the centre of Blaenavon is another one of these one-off type buildings. This imposing property has been expertly refurbished to a very high standard.
"The fully-tenanted commercial building has two-long term tenants so could prove to be a good investment.
"The property is currently let to the two tenants on 10-year leases with a combined annual rental income of £33,000, (£27,000 and £6,000) so based on the guide price of £190,000 this provides a rental yield of 17 per cent.
"The building, with sweeping views from some rooms over the surrounding valleys countryside, comprises three storeys with approximately 4,500 sq ft of office space. We have been informed there was a substantial refurbishment of the premises in 2001.
"Located on the main high street in Blaenavon, the property is in a prominent position on the intersection of Lion Street and High Street. The current entrance to the building is via Lion Street public car park which offers free parking to the public.
"It is just a short drive to the A465 Heads of the Valleys Road, which provides links to Hereford, Abergavany, Brynmawr, Ebbw Vale, Tredegar, Rhymney and Merthyr Tydfil.
"Cardiff, Newport, Swansea, London and Bristol can also be accessed via the M4 which is a 30 minute drive from the property."
The former library is within walking distance of tourist attractions such as Blaenavon Ironworks, The Heritage Railway, World Heritage Centre and The Big Pit. Additionally, Blaenafon Cheddar Co is located on Broad Street and attracts hordes of tourists to the area.
The former library is one of almost 80 properties offered at the next Paul Fosh Auctions online sale which starts from noon on Tuesday, June 20 and ends from 5pm Thursday, June 22.
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