Commercial development for sale
Property description & features
- Part let mixed use investment opportunity
- Self contained retail unit extending to 1,285sq ft
- Separately accessed and spacious 4 bed flat above
- Asset management opportunities to increase rental income
- Prominent location in established residential area close to town centre
A prominently located and extended property briefly comprising a self-contained ground floor retail unit together with a separately accessed and self-contained four-bedroom flat with roof terrace. The retail unit is let to an individual who has been in occupation since December 2019 and currently operates a retro toy/collectables shop offering a range of niche products. The property is prominently located at the junction with Westwood Road and Grove Street and has extensive frontages to each road with access to the flat being off Grove Street. An internal staircase provides access to the entrance to the flat and a secluded roof terrace which provides an additional amenity. The flat is well presented throughout and deceptively spacious providing four bedrooms, a large kitchen, bathroom and is currently vacant.
Location - Occupying a prominent location at the junction with Westwood Road and Grove Street the property is situated in an established and densely populated residential area approx. 500 yards from both the town centre and the A523.
Services - All mains services are connected. No services have been tested by the agents. All of the equipment within the property is included in the sale. The agents have not tested any of the equipment.
Vat - The sale price is not subject to VAT
Tenure - Available freehold, subject to contract and with the benefit of the ground floor commercial lease and with vacant possession of the flat.
Business Rates/Council Tax - 2 Westwood Road
Rateable Value: £8,800
The tenant is responsible for all business rate liabilities.
2A Westwood Road
Council Tax Band B
Payable: £1,677.24 pa (24/25)
Epcs - 2 Westwood Road: 70 (Band C)
2A Westwood Road: 52 (Band E)
Accommodation - 2 Westwood Road (shop)
Sales area: 990 sq ft
Office: 94 sq ft
Kitchen: 202 sq ft
WC --
Total N/A 1,286 sq ft
2a Westwood Road (flat)
First Floor:
Kitchen: 12'0'' x 13' 9''
Livingroom: 19'0'' x 10'0''
Bathroom: 6'0'' x 6'0''
Bedroom 1: 12'9''x 11'9''
Bedroom 2: 9'0 x 8' 3''
Bedroom 3: 12'9''x 9'3''
Bedroom 4: 9'0'' x 8'0''
Roof terrace: 12'0'' x 25'0''
Tenancy Details - The ground floor shop is let to an individual by way of a 1 year lease from 20th December 2019. The original rent of £7,000 pa continues to be paid. There is therefore the opportunity to negotiate a new tenancy with the tenant and potentially agree a higher rent. A copy of the ease can be made available upon request. The flat is vacant. The agents estimate that it should let for £700 pcm.
On the above basis the property, fully et should produce an income of no less than £15,400 pa which equates to a gross return on investment of 9.6 %.
Anti Money Laundering Regulations - In accordance with the anti-money laundering regulations, two forms of identification will be required (e.g. photographic driving license, passport, utility bill) from the applicant and a credit check may also be required, the cost of which will be the
responsibility of the applicant. Where appropriate we will also need to see proof of funds.
Property information from this agent
Places of interest
See more properties like this:
*DISCLAIMER
Property reference 33035544. The information displayed about this property comprises a property advertisement. OnTheMarket.com makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information, and OnTheMarket.com has no control over the content provided by the agent or developer. This property advertisement does not constitute property particulars. The information is provided and maintained by Rory Mack Associates - Holly House.
OnTheMarket may have applied supplementary data to this property listing, including:
Broadband availability and predicted speed
Broadband speed is measured in megabits per second, with the number returned showing how fast the connection is. Each reading is based on the highest predicted speed of any major broadband network for services that deliver the download speeds. The following are the different readings that we may display:
Basic: Up to 30 Mbit/s
Super-fast: Between 30 Mbit/s and 300 Mbit/s
Ultra-fast: Over 300 Mbit/s
The data is updated three times a year. The checker results are predictions and should not be regarded as guaranteed. For more information, see: https://checker.ofcom.org.uk/en-gb/about-checker#Answer_0_2
Mobile phone signal availability and predicted strength
Mobile signal predictions are provided by the four UK mobile network operators: EE, O2, Three and Vodafone. Predictions can vary significantly from the coverage you may actually experience as a result of local factors (especially terrain). Ofcom has tested the actual coverage provided in various locations around the UK to help ensure that these predictions are reasonable. The values shown against a property can be broken down as follows:
Clear: No bars, no signal predicted
Red: One bar, reliable signal unlikely
Amber: Two bars, may experience problems with connectivity
Green: Three bars, likely to have good coverage and receive a data rate to support basic web services
Enhanced: Full bars, likely to have good coverage indoors and to receive an enhanced data rate to support multimedia services
Energy Performance data and Internal floor area
Any supplementary data should not be relied upon as forming part of any property particulars and OnTheMarket cannot be held responsible for any incorrectness in this data. See here for more information.