Former Blaenavon bank could be a safe investment at auction
Wednesday, April 5, 2023
A former bank building in a Gwent World Heritage town could prove to be a safe investment for a new owner.
The solid, stone-built building, over three floors including a secure basement in the Eastern Valleys town of Blaenavon, is being sold by Newport-based Paul Fosh Auctions.
The property, at 40 Broad Street, is listed with a guide price of £55,000-plus.
Debra Bisley, of Paul Fosh Auctions, said: "The property comprises of several rooms and although in need of modernisation offers great potential. One immediate benefit to an investor looking to take on the eye-catching building is that it has a cash machine installed which generates an immediate income for the owner.
"Located on the main high street in Blaenavon the property could be redeveloped for some kind of tourism related use, perhaps as an AirBNB, subject to planning, as it is situated within walking distance from internationally renowened tourist attractions such as Blaenavon Ironworks, The Heritage Railway, World Heritage Centre and The Big Pit.
"Additionally, the Blaenafon Cheddar Company is located on Broad Street which brings a lot of tourists to the area. Directly behind the building is Lion Street public car park, and Lion Street bus station, this property is within close proximity to transport links and all local amenities.
"We have been advised that the property may be applicable for a grant, further information can be found by contacting Torfaen County Borough Council.
The former bank and some seventy other properties will be offered for sale online at Paul Fosh Auctions which starts from 12 noon on Tuesday, April 11 and ends from 5pm on Thursday, April 13.
www.paulfoshauctions.com
Story by David Barnes at DB Public Relations