Next time you pop into the chippy around the corner or call the local Chinese takeaway to place an order, you might appreciate how special they are, because if a recent property auction is anything to go by, they could well be worth a small pot can be. owned gold.
Usually it's the dilapidated houses or weird and wonderful properties listed in an auction house's online catalog that attract the most attention, but sometimes it's the buildings that look the most mundane that on auction day they create an unexpected frenzy of cause online bidding.
This Chinese takeaway in Caerphilly, which once consisted of two retail units and is now a single commercial property, became the subject of a recent online auction, sparking a frenzy and attracting 157 bids to snap up the well-located property, reports say Wales Online.
At the time of the online sale at Paul Fosh Auctions, the retail unit was rented to a Chinese takeaway for £650 per month. The property also hides an owner's flat above the takeaway and a maisonette to the rear of the property, which was rented at £216.67 per month at the time of the auction.
The property was once split into two retail units rather than the single space seen at auction, and at the time of the online sale the auction company suggested it could be suitable for conversion back into two units, subject to the relevant building permits.
Listed with a guide price of just £60,000, a new owner's order was eventually accepted and took the property after bidding almost four times the list price.
Debra Bisley of Paul Fosh Auctions said: “It is fair to say there has been a real battle between the various bidders to secure this property, located on the main route through the historic town of Caerphilly.
“A total of five bidders got their act together and submitted a whopping 157 bids, with the final successful bid coming in at £221,000. Sometimes it is the relatively unremarkable lots that generate the most interest, which was certainly the case with this property. “
The property is in a prime location on Pontygwindy Road, Caerphilly – a main road through the town and so enjoys many visitors passing traffic, but is also within close proximity to Caerphilly Castle and the town centre.
So if you think of the building as a money-making business, its location has certainly contributed to its popularity. However, the extra tasty aspect of the sale that made it more popular than most people would expect is its rarity.
Commenting on the price achieved and the popularity of the property, Debra added: “At the moment, properties with A3/A5 (takeaway) licenses are difficult to come by, therefore there is a high demand for them when they become available.”