Substantial Mixed Use Property Comprising of Two Ground Floor Retail Units Producing £250.00 Per Month and £335.00 Per Month (Approx Total £7,020 Per Annum).
Vacant first floor two-bedroom flat - estimated rental £600.00 per calendar month.
Parking area to front.
No VAT on purchase.
The property comprises of a substantial semi-detached mixed use part-let investment opportunity.
From Sussex Road, there is a large tarmac area to the front and two self-contained ground floor retail units, each with shopfronts and glazed pedestrian doors with fascia signage above onto Sussex Road. We understand these retail units are separately connected for water and electricity, and separately assessed for business rates - see overleaf. Most occupiers, subject to meeting the typical criteria would be exempt for the payment of business rates.
One retail unit trades as an ironing shop and currently pays £250.00 per calendar month (i.e., £3,000 per annum). 88B is let on a similar informal basis to a nail bar occupier at £335.00 per calendar month (i.e., £4,020 per annum).
On the ground floor, there is a dedicated entrance door and ground floor hall leading to the residential accommodation, which has a dining kitchen to the ground floor, together with stairs leading to the first floor two bedrooms, bathroom and lounge.
We understand the residential apartment could achieve in the region of £600.00 per calendar month if let on an Assured Shorthold Tenancy Agreement but is currently offered with vacant possession.