A former Job Centre building close to the fast improving Heads of the Valley road in north Gwent was snapped up by an investor at a recent auction.

The property at Crown Buildings, Upper Coronation Street in Tredegar was sold for £86,000 after being listed with a guide of £65,000.

The single storey freehold building offers some 4,500 sq ft of good quality, modern office space and was previously occupied by the Job Centre.

Matthew Jordan, of Paul Fosh Auctions who handled the sale, said: “The modern, well-equipped building generated a great deal of interest from potential buyers.

"Some were looking to redevelop the site while others wanted to retain it as office space. It is extremely well located close to Tredegar town centre with public parking to the rear. The property is adjacent to the fire station and access to the arterial A465 Heads of the Valleys road is via the A4048.

“It’s a good sized site and was guided at £65,000 to ensure maximum interest.

"We were delighted that it went really well and that we achieved £86,000, a £20,000 lift on the guide. Price really is key when it comes to guiding these types of properties which was proved in this case.”

The next Paul Fosh Auctions sale, the Christmas sale and the final auction of the year, will be staged on Thursday, December 6, at The Park Inn Hotel, Cardiff, starting at 5pm.