No longer on the market
This property is no longer on the market
MapResidential development
Residential development
Features and description
- Mixed-use unbroken freehold building
- Located adjacent to Ladywell Train Station
- Arranged as a commercial unit over ground floor, and a large self-contained flat across the upper floors
- Both commercial unit and flat are separately let, currently producing £40,200 PA in total (although this will shortly increase)
- The flat benefits from lapsed planning consent to extend/convert into two self-contained flats
- Oieo: £625,000 f/h
The building is arranged as a commercial unit over ground floor, and a self-contained residential flat across the upper parts (first & second floors).
Commercial Unit
The ground floor commercial unit measures circa 800 sqft and comprises Sui Generis use class. The unit is let to a private individual operating a hot food takeaway business (t/a "The Posh Fish Shop - Ladywell"). The lease commenced in 2016 for a term of 20 years (thus having approximately 12 years un-expired). The passing rent is £18,000 per annum, although there is an open market upward only rent review in September 2024, and the tenants understand there will be an increase. There are no break options included in the lease, and it is within the 1954 Landlord & Tenant Act. As for the unit itself, Business Rates are not payable, and the accommodation has recently been fully refurbished by the tenant (including a built-in commercial kitchen with extraction).
Flat
The flat is self-contained being accessed from the side of the building via a gated courtyard (which is included within the freehold title). Arranged over first and second floors, the unit measures circa 950 sqft, and is arranged to include: two bedrooms, a separate dining room & living room, a kitchen, and a bathroom. The property is currently let to private tenants on an Assured Shorthold Tenancy (AST). The passing rent is £1,850 PCM (£22,200 PA), and the tenancy agreement expired in June 2024 (therefore the tenants are 'holding over'). The accommodation is in reasonable condition throughout.
Commercial Unit
The ground floor commercial unit measures circa 800 sqft and comprises Sui Generis use class. The unit is let to a private individual operating a hot food takeaway business (t/a "The Posh Fish Shop - Ladywell"). The lease commenced in 2016 for a term of 20 years (thus having approximately 12 years un-expired). The passing rent is £18,000 per annum, although there is an open market upward only rent review in September 2024, and the tenants understand there will be an increase. There are no break options included in the lease, and it is within the 1954 Landlord & Tenant Act. As for the unit itself, Business Rates are not payable, and the accommodation has recently been fully refurbished by the tenant (including a built-in commercial kitchen with extraction).
Flat
The flat is self-contained being accessed from the side of the building via a gated courtyard (which is included within the freehold title). Arranged over first and second floors, the unit measures circa 950 sqft, and is arranged to include: two bedrooms, a separate dining room & living room, a kitchen, and a bathroom. The property is currently let to private tenants on an Assured Shorthold Tenancy (AST). The passing rent is £1,850 PCM (£22,200 PA), and the tenancy agreement expired in June 2024 (therefore the tenants are 'holding over'). The accommodation is in reasonable condition throughout.
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